Dramatic Price Change of SPY

If anyone's already successful trading off M5, they should carry on, regardless of what I say.

There will be some traders out there who are doing well on H1 and previously did well on H4 and D1, they might want to give M5 a try. It might be an interesting challenge although financially unnecessary.

Anyone out there who has never traded should not get involved in M5, they will get chewed up in a month.

I love telling people what to do.......

 

There are "action points" in the price charts. You can identify them more quickly and often with more "repeats" with shorter-term charts. The repeats are always desirable to see. I think tic charts are overkill, but 5-minute and even 1-minute charts are often beneficial.

BTW... the only time you get "chewed up" is when you trade poorly. Time frame is irrelevant. 5M isn't inherently good or bad.

 

late reported dark pool print

 

Is that JK? Otherwise, somebody got the hose.

 

someone always does

 

Yeah, well... there's a difference between a "garden hose" and a "fire hose".

 

I keep letting it slip my mind you can trade these etfs 24 hours a day...

 

These price anomalies messed up the charts, I can't even get proper pivot points.

 

But all you're saying is trading is profitable if you do it right, and a loser if you do it wrong. Which is also what I'm saying - there are Formula 1 drivers after all, using my analogy, but the most truthful answer to a new trader or a trader new to day-trading who asks will I make money trading 5 minute charts is No.

 

Same answer to the ANY new trader trading any other time frame