5 sec is pretty hardcore scalping. I use 1min as a minimum timeframe for entries. Also use MT4 for longer term charts etc.
5 Sec ! .... that 15 minute bar method you posted must not fit your personality very well. A few months ..... First I suggest you stick to SIM trading for a while, save your money til you figure out your method/personality ..... (from a guy who just gave back $200 of profit)
Ya, I definitely would not recommend to trade real $ until you are consistently profitable on sim. Maybe only if that's Oanda and you trade really small notional value size to risk like $1 on a trade (which makes it basically the same as sim but with some emotional involvment which makes it more realistic).
You are quite correct. I trade a notional amount with Oanda, the reason I use Oanda is for speed of execution and so I can see the price momentum, it gives one a feel for the sentiment. I actually go off the 1min on another platform but place a quick scalp with Oanda. I put a DB channel on the one minute (assuming we have an overall uptrend on the daily) wait for the price to go to the bottom channel and then buy for a few pips until it reaches the top of the 1m channel, often gaining 5-10 pips, sometimes price will shoot off in an uptrend. Having already charted/tried all the other timeframes, the 1m is good for scalping when I use it with the DB channels. If I catch the 4hr with a good setup in place I sometimes trade this.