Cornix's Forex Trading Journal

5 sec is WAY too quick. 10 second is too especially for any form of fading. 30 second is decent and most traders use the 1 min but even that's a bit quick. If you're just starting out use a 5 min chart and learn to take proper signals. Then drop it down. I wouldn't try running until you learn how to walk :).....personal experience.

The only place I could get by with a 10 sec chart and gain an edge was trading breakouts ironically (E/U moves quick). Trying to get early signals on tops and bottoms chopped me to death and I had to go back to 1 min (sometimes 30 sec).
 
Hello Athlonmank8,

I am in full agreement with you, 5sec is way to small.

But I do not use this timeframe to do my charting, I merely use this particular platform, which so happens to have a 5second period, because of the execution speeds, good spreads and size of broker. However, it is also useful for the study of momentum on that other popular term 'price action'.

I use a different platform for charting and using the donchian channels (old fashioned, but it seems to work) to quickly show me support and resistance within all the timeframes, from 5min,1 hour,4 hour, daily, weekly and monthly. When I enter a price it is based on the weekly/daily and 4hr to access the overall main trend, then I will enter a trade on either the 5minute timeframe or the 4hour timeframe and only going long if the main trend on the daily is long.
 
What bothers me, unless I am mistaken, is that you may be focused on too many 'ingredients' when it seems that you intended to simply look for 'scalps'...

Simplify ...

NiN
 
Today I am starting scalping experiment, no idea how long will it last, all depends on real time testing results:

will only trade for ~3-3.5 hours a day (from approximately 7:00 GMT to 10:00 GMT) to see if making decent profits possible by having enough free time too... :p
 
Hi Guys
Good trading. I'm hoping she goes up at least some point today, according to my charts. She is hugging the 30ma on the 15m t/f at the moment, lots of indecision.
 

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Oh yeah... But this time I got lucky to be holding the position in direction of this dump... And it went less than in a tick from my stop-loss, but didn't touch it.
 
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