NoDoji and BigFunky...I had always heard that the 1 minut chart was just a lot of "noise"...hmmm...re-thinking my thinking once again...thanks...
this is amazing to me...I actually started trading off a 1 minute chart but 'they said' it was noise so started looking at a 5 minute chart...thanks
It's noise unless you're scalping. But when your setup is getting ripe on a 5-min chart, the 1-min chart can guide you to the best entry point. I wouldn't recommend using it for exits. I've left so much profit on the table when I accidentally forgot to switch to my longer time frame for exits. In the 1-min time frame it can look like a "move" is over, but in the longer time frame it's often less than half over.
I agree. I think if you're going to day trade any one time frame in currencies, the best overall for finding setups would be the 5 min. The criteria for exiting should be consistent with the criteria for entering - both should be based on the 5 min, although better timing can be accomplished with assistance from the 1 min. - But only after the 5 min has given the initial signal.
dude, is that blotter forreal? whats with the spastic buying and selling for 2 ticks within a 3 min period? what were you trying to acomplish with that?