Most retail Forex brokers are currently closed but currency traders can still get the price of the Yen and the New Zealand dollar here, for example:
USD/JPY:
http://www.bloomberg.com/quote/USDJPY:CUR
NZD/USD:
http://www.bloomberg.com/quote/NZDUSD:CUR
USD/JPY is currently at 104.37...
Ok, now we are going somewhere.
So yes you will make more money with the same trading system using the smaller time frames, simply because you will trade much, much more frequently.
And no, the hourly rate is not an issue if you automate your system.
So, at the end of the year, Sam...
You are talking about retails traders, I was talking about corporations and high net worth individuals who trade directly on the Interbank.
If the CEO of BMW in Munich wants to buy 50 million US dollars right now, do you think he will have to wait until Christmas is over to do so, or wait for...
And here is a nice rectangle formation on the NZD/USD (15 min).
Here the direction of the potential breakout is unknown, so confirmation is needed before pulling the trigger.
Ok, let's say I buy XYZ stock when the price is above the 20 and 50 period simple moving average (and vice versa for short). Then I liquidate my position when 2 consecutive bars close completely below (or above for short positions) the 50 moving average.
As you can see a very simple trend...
What makes you think that performance will somehow deteriorate on the smaller time frames, assuming the trading rules stay the same?
What if the opposite was true?
Absolutely.
Give a computer 5000 bars and it will start generating trading signals according to the system's rules.
And yet the computer has no idea if the bars you fed it with are minute bars or daily bars.
So if you like to play the guitar and join one or more online guitar forums to share your passion, ideas and techniques you are a loser?
Interesting concept.
Really?
Trading dictates the price you pay for bread, sugar, coffee, gasoline, meat, corn flakes, interest on your mortgage, car loan and credit cards, etc...
Almost everything you buy depends on trading in one form or another.
When are you people going to learn that leverage has nothing to do with risk?
I can trade with a 500:1 leverage account and still risk only 2% of my capital on each trade.
500 to 1 leverage simply means that your broker will allow you to buy (or short) 500 units of something with only 1...
A real trader does not concern himself with any particular financial instrument, be it gold, sugar or Mexican pesos.
If horse shit futures is moving up he will buy horse shit futures contracts, if they are liquid enough (no pun intended), period.