I don't believe you can make money scalping the 1 minute.
Maybe I'm wrong, I doubt it.
Maybe I'm wrong, I doubt it.
Scalping 1 minute time frame analysis
- Thread starter jamesl2204
- Start date
In this particular situation, it seems like he's already been trading via the 1min chart and now decided to ask questions after already been doing such.
Also, he didn't mention anything about the typical scalper tools...special commission rates, broker trade execution platform suitable for scalping, DOM analysis / Order flow tools.
Thus, I hope he's just experimenting on a simulator (not real money) because most scalpers do not use charts. Typically, those that use charts only for scalping...they usually do such to supplement it for not able to use those other resources.
Therefore, technically I do agree...most can't make money via scalping because they jump in it without trading plan nor proper tools just like any other type of trader.
You know...someone that doesn't know how to swim and then jumps in the ocean and then ask how do they swim.
wrbtrader
Many professional writers / speakers said don't use 1 min chart.
They are not professional traders.
at times you have to use 1 min chart instead of 5 min, 10 min, 15 min ... chart for trade entry.
When to use 1 min chart depends of market situation.
around mid Mar 2020, market was moving very rapidly.
you have to use 1 min (or small volume) chart for trade entry.
at times, when there is an extremely powerful twitt from the President ,
even the 1 min chart is considered as too coarse.
you have to use finer resolution chart.
when market is moving sluggishly like what's happening today, use 5 or 10 ... mins (or medium volume) chart.
if you choose too short time frame chart, there will be lots of noise.
If you choose too long time frame chart, you will miss the opportunity.
we need to learn from experience so that we are competent enough to choose the appropriate time frame chart.
I don't like to use time based chart.
All my charts are volume based. so I have things like small, medium, large volume charts.
They are not professional traders.
at times you have to use 1 min chart instead of 5 min, 10 min, 15 min ... chart for trade entry.
When to use 1 min chart depends of market situation.
around mid Mar 2020, market was moving very rapidly.
you have to use 1 min (or small volume) chart for trade entry.
at times, when there is an extremely powerful twitt from the President ,
even the 1 min chart is considered as too coarse.
you have to use finer resolution chart.
when market is moving sluggishly like what's happening today, use 5 or 10 ... mins (or medium volume) chart.
if you choose too short time frame chart, there will be lots of noise.
If you choose too long time frame chart, you will miss the opportunity.
we need to learn from experience so that we are competent enough to choose the appropriate time frame chart.
I don't like to use time based chart.
All my charts are volume based. so I have things like small, medium, large volume charts.
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