Darren's New Journal
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Darren
- Posts: 891
- Joined: 20 Nov 2012, 13:54
- 12
Re: Darren's New Journal
I haven't traded M1 for a while as there doesn't ever seem to be a signal when I am sitting at the computer. However, I did take an M5 trade that I did feel confident and happy with yesterday. I may have to change my trading plan to include M5!
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eaxh
- AIMSter
- Posts: 872
- Joined: 17 Jan 2017, 21:19
- 8
Re: Darren's New Journal
Great catch Darren!Darren wrote: 06 May 2022, 08:44 I haven't traded M1 for a while as there doesn't ever seem to be a signal when I am sitting at the computer. However, I did take an M5 trade that I did feel confident and happy with yesterday. I may have to change my trading plan to include M5!2022-05-06_08-44-10.png
Don't let the fear of losing keep you from winning
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Darren
- Posts: 891
- Joined: 20 Nov 2012, 13:54
- 12
Re: Darren's New Journal
I thought I would write an update as I have been quiet for a few months.
I have given up on M1 for good as I have finally realised it does not suit me. It has only taken me a decade to realise that!
I really like M5 and can see the benefit of the H1/M5 method. You can catch some really nice moves if the market is moving.
I also like H1 although for some reason I have been really reluctant to trade it. I think in the back of my mind it is too slow but in reality that is a massive benefit as you have more time to analyse the trade before you enter, and looking at Immy's results it is very much profitable!
I am currently trading M5 on 4 charts, UJ, GU, EU and Dax. I only trade the market that is moving well but I still do miss some good trades. Therefore I have setup an H1 terminal looking at the same pairs (just 4) to see how I get on with that.
When I looked at H1 earlier in the year I didn't have much luck and was BE for ages. This made me move away from it. I am now looking at the market at a different angle and won't trade anything unless there is good momentum just before the signal. I am not sure why I wasn't doing that before but hopefully that is the missing key to my success! I was also looking at a lot more pairs which in hindsight was counter productive.
We shall see what happens next...
I have given up on M1 for good as I have finally realised it does not suit me. It has only taken me a decade to realise that!
I really like M5 and can see the benefit of the H1/M5 method. You can catch some really nice moves if the market is moving.
I also like H1 although for some reason I have been really reluctant to trade it. I think in the back of my mind it is too slow but in reality that is a massive benefit as you have more time to analyse the trade before you enter, and looking at Immy's results it is very much profitable!
I am currently trading M5 on 4 charts, UJ, GU, EU and Dax. I only trade the market that is moving well but I still do miss some good trades. Therefore I have setup an H1 terminal looking at the same pairs (just 4) to see how I get on with that.
When I looked at H1 earlier in the year I didn't have much luck and was BE for ages. This made me move away from it. I am now looking at the market at a different angle and won't trade anything unless there is good momentum just before the signal. I am not sure why I wasn't doing that before but hopefully that is the missing key to my success! I was also looking at a lot more pairs which in hindsight was counter productive.
We shall see what happens next...