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From a 1 min traders point of view it was a good trade but we all see things differently. To my view daily is too high for a 1 min trader to care about but there was obvious downwards momentum on 4 hour and 1 hour and a clear pullback in a trend on the 15 min.

Example of what I'm looking at on gbpusd today. 4 hour and 1 hour momentum down. 15 min downtrend pulling back. Cci pullback and very small doji bounce from 100 and 200 smas on one minute. No brainer short would have made 30 pips in 5 mins and if you were just watching 1 min I doubt you would...

Thanks for your input, that is very much what I am doing including the use of support and resistance in multiple timeframes to try to build a framework to trade by.

You have to go with your market beliefs I think. I would just say though... Maybe you suck at day trading because of your unwillingness to embrace the higher timeframes into your analysis ;-) . (Joke) :) . Seriously though the way I see it if you don't use htf analysis you'll trade well when...

@AbbotAle agreed that the 1 min is the best tf for making money with the least drama once you're competent it's just the belief that it leads anything that I don't see. It's the same price on all tfs just a different representation. Glad you agree on needing htf direction though.

As I said in the above post when the 1 min goes up 10 points so does the monthly but when talking about turning I'm more thinking about candles changing from up to down and the trend starting to be obvious on all timeframes. Apparently it starts on the 1 min chart and shows up on the monthly...

What I meant by that was simply that when the 1 min chart goes up 10 points so does the monthly and every other tf in between. Sorry bout dat ;-) Ok, I'm completely convinced of this now, it's simply a case of knowing that the index calculation is more fluid than I thought it was and not...

My way of thinking is just that after a pullback in a 15 minute trend you can reasonably expect a 1 minute trend in that direction. May or not play out that way but increases your chances of finding something worth trading I think? I know some people can jump in and out in any type of market and...

Yes I agree with momentum being the only thing that helps. Interesting about the dax, I just wasn't sure the index was that loosely based. I find the mtf analysis makes it easier to predict momentum on the lower timeframe. Each to our own I suppose and as I say we'll see in time who does better...

My friend and I have had a debate going for years now. It's safe to say our market beliefs differ. It would be interesting to hear some different opinions about the following subjects. 1) My friend insists that the one minute chart "leads" the other timeframes as in the one minute chart will...

So the $4 is regardless of position size? More likely per contract? I know you can't trade at $5 per point but if you could you'd be paying 0.50 cents on the tick plus $4 or $4.50 in total. At 9 tick spread at 5 GBP per point I'm paying 4.50 GBP in spread. Works out the same unless the position...

@Xela by the way, what sort of spread are you getting on S+P and Nasdaq and what is your commission per trade?

I didn't catch facetious, you've been the most helpful so far! :) I suppose you don't know who knows what they are doing and who doesn't from the start do you? Until someone mentions a trading method with no indicators and just s/r and momentum...

Ok, thanks very much for your help. The ea simply puts a stop loss onto an order I've just opened with a market order (or works for pending orders too, basically any trade without a stop loss gets one applied. By the way I run this on a VPS so if I take a market order on my laptop and then for...

In case anyone is interested in my "system" such as it is... I buy at support when the momentum is up, sell at resistance when the momentum is down. Let my winners run and cut my losses short. Support and resistance to me consists of "25 levels" which I have marked with an indicator, just draws...

Yes, that's what I have a feeling of. I've always used mt4 as I have always found it easier and I can code trade management "expert advisors" to manage my trades, limited to applying an immediate initial stop on market orders at the moment. Interesting to hear it doesn't display some...

Yeah, cheers :-)

I have an inkling but could do with some advice on the subject from anyone who knows better than me.

Hello all, new to the forum. I've been reading around and there seems to be some good common sense here with strong opinions on display but usually without the flaming so I'm hoping for some sensible answers. I have a few questions related to what I am doing right and wrong with regards to my...