A solid edge on a high frequency timeframe like 1-min is not something you share.
You are absolutely right, I have developed two of them and I will die with them. Have them automated and programming codes change daily. There are reoccurring patterns in the marketplace and I trade off HFTs, only way the system fails is when HFTs ever stop trading as it won't generate signals. I am way too slow to consistently manually trade them as they occur in bleak of an eye. And unlike what people think, profits much smaller than what HFTs make, but consistent.
With realistic trading costs, you would need about 90% win rate, or a similar reward/risk ratio for 1-minute scalping strategies. And there are also many other issues involved in trading on very short time frames:
http://www.financial-hacker.com/is-scalping-irrational/
Better take stories from one-minute traders with a grain of salt.
This is where most get it wrong, when you develop day trading systems, you should not be aiming for high win percentages, cause then this affects your money management rules. What I did 5.5 years ago was I radically changed how I day traded from making the most money I could to reducing "LOSING percentages", so all my systems now only test and trade on what it takes to keep them very low. What most don't realize though, lower the timeframe, you have to risk much more than you can make on each trade overall and almost all signals are waiting for price to come to you for reversion to mean. Where more money is produced is by violating rules that most can't do is by averaging down and going for plus one tick breakeven trades. You don't have freedom of those who trade longer timeframes like 3 minutes or higher of getting in later as where many who just getting in and I am getting out. So systems I have made, you generally out in three minutes or less. I am mentoring six guys right now on how I trade and one when he has time, even when he takes trades that are not there, has profitable days. But it is not like taking handful of rules and have money tree, you have to breathe Price Action to know when not to trade, when signals not to be taken. I can post charts all day long and most only get half the story as most are not educated in Price Action of support and resistance. Most think you wait for retracements and that's it and it is not, you have to micro-manage each trade and cause of stresses of this, best only to day trade first 75 minutes. The smaller the timeframe, the harder it is cause lack of time.
And I no longer recommend to anyone to day trade, people just too lazy to put in all the time it takes to become profitable, and why a good mentor has to be willing to work up to two years with someone, learning to trade is not like a weekend deal, and systems sold are a joke cause vendor usually not there a year from now. They sell usually parts of a Trading Plan or something that only works past few months. And I never allow a student to ever trade real time unless they can be real time sim 18/20 days, some never make it, but I don't want it on my conscious that I caused them to lose, they have to be as good as it gets in this business. And those who think no one that has a good methods would be willing to teach them for no fees is wrong, trading very lonesome business, you become a hermit and start talking to the cat more often, no one understands what you do and when you try to explain they look at you like please stop talking. Students have to bust their asses to learn, MANY hours are on them, much practice and sometimes spending two weeks on same chart often happens. I been day trading now 31 years, many ups and downs learning, and always open to learning what I don't understand.
Hey, baby it's cold outside, keep warm and Happy Holidays.
