In my very first video lesson on this site after subscribing to this site I mentioned that I used to trade the 5 minute and 1 minute chart profitably. I also mentioned that I did this before having little to no knowledge of trading which is true also.
I did not go into it too much because I know these time frames are not as efficient as the higher time frames and can cause a trader to over think which can be stressful and time consuming. As I have mentioned before in many of my videos, trading is supposed to be simple and not stressful or time consuming.
Recently a reader of mine named Daniel sent my an email and this is how it read and how I responded.
Early in the video you mentioned that you traded successfully on the 1
min and 5 min charts before you became distracted by indicators. Can
you elaborate more about the technique you used on the 1min/5 min
My Response was:
Thanks for the inquiry, when it comes to trading these time frames it comes down to probability again. It is hard to describe exactly in an email, i would look at structure and draw it on the 15 minute chart and then on the 5 minute chart wait for a two candle bounce on 5 minute around that location.. Only about 50% of trades are successful if done right however risk reward on the winning trades is what builds the account.. This strategy needs extreme discipline and that is why i choose not to trade it anymore and prefer to stick to above h4 or higher, plus i make way more pips with less thinking or risk on the higher time frames as well..What i will do however is make a video for it in the coming week to show how to trade the 5 minute with this technique.. I recommend avoiding the 1 minute however ( way too much noise ) as it takes way too much thinking — it does work, but less positive results..
Place stop below entry candle or candles as same on higher time frames PA strategy and lock in at BE at risk level and aim for next structure..
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Regards and have a nice day..
Above – How to Trade the 5 Minute Chart Profitably with Price Action – To view full screen click the the below right full screen icon on video. The video is also in HD so enjoy.
As promised above is my video detailing how to trade the 5 minute chart profitably, at the time I focused on engulfing’s and interestingly enough still today that is my most profitable strategy overall, however of course not on the 5 minute chart, the h4, Daily and Weekly are my favorite overall.
I hope you enjoy, please spend a moment to share this post with your friends or on your Facebook. Also any questions, comment below..