The support forum is built with (1) General and FAQ forums for common trading queries received from aspiring and experienced traders, and (2) forums for course video topics. How to Trade Price Action and How to Trade Forex Price Action videos are consolidated into common forums.
Brooks Trading Course social media communities
Is it really impossible to trade profitably from 1 minute chart?
I have always taken Al's advice to heart and stayed away from the 1 minute chart.
However, unlike Al, who can trade all day, I can only remain on screen for at most
for the first two hours from the open.
The 5 minute chart do that have that many oppurtunies, or at least I cannot find many, if at all, during that time.
It only has 24 bars after the first two hours,
and if there is a gap up/down, my chart would look empy beyond the leftmost bar on the day session chart.
(This means I would have to trade without context with just a few bars)
1 minute chart, however does seem to show more oppurtunities and more context, with less risk.
Is it really impossible to trade profitably from focusing soley (or mostly, as Al does with 5min) on 1minute chart?
If I remain hypervigilant and extremely focused for just the first hour, can I not make this viable?
Thanks.
Yes, you can but it is hard because no time to process the data. When I want to see a lower time frame (mainly in BOs) I use the 2 min chart... you can try it and get both more time to process and more trading opportunities in your 2 hours of trading. But, ask yourself the following:
All training materials, but specially the end-of-day summaries, which are essential to gauge your knowledge, are based on the 5 min chart and by going to another time frame you lose this feedback... if you were not capable of taking the trades that Al is pointing you out in his analysis, how will you do it without it? Not impossible but...
A time ago I was faced w¡th this same problem and tested many things yet I always came back to the 5 min chart where I could keep learning. Now, I shoot to take the swing trades with blue rectangles. There are 5 to 10 a week during the first two hours and you only need a few to be doing very well.
