Intraday FX Player

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Quote from cvds16:

wow, you definitely seem to have tightened your stops since you are trading 1 min.
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Yes, that was always what I wanted to do - enormous R/R of trades... Seems to be close to achieve it with yoohoo's help. :D
 
What concerns me with this style of trading is that quite often, there is really only one major direction for the day, yet we spend an enormous amount of energy chasing the wiggles.

For example, today a couple of us successfully shorted the top and reverse just after European open. If I had held on until now, returns would have been great. But right now I'm looking at a much smaller return for the day. I've found that this holds true for a lot of trading days.

Not sure what to do about this at the moment, as in theory returns are optimised when you trade long and short throughout the day. This is very difficult to master however.
 
Magic,

IMO thats what we look at bigger picture for: to hold on to profitable trades and to estimate where BIG picture is likely to reverse, not trying to catch every 1min wiggle.

Though sometimes (as me with the last long) don't hold enough... :)
 
With a moment's thought, I think that the problem for me is adjusting to 1 min charts. Yoohoo gave warning about what this is like, and he's right. It's sort of someone who has only driven the family car taking the wheel of a F1. It's easy to feel out of control and lose the big picture.

Right now, I'm most comfortable with the five minutes, and the last couple of days I have at times forgotten about the 5 mins in my focus on 1 min.

Lots more work to do...
 
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