M1 or M5? Experts say...........

[wishiwasrich]

Hi guys

I am finding that the M1 is trading machine (averaging 10 trades a day min.) and the M5 is only giving me 3-4 max.

Is anyone else having this as well?

[Simmo]

Have'nt really tried M5, but you are right M1 does get a lot of trades.
I took a beating today on EUR/USD, had a buy at 1.2768 and eventually closed it at 1.2612 and the euro was still dropping like a stone.
Still, made a lot back with some rapid manual trading ! :D

[Earl]

ask yourself why???? M1 vs M5

Think about it..... test it....read about it...then decide

M1 faster
M5 slower

M1 more trades
M5 less Trades

M1 more false signals ie spikes either way..lots of noise

M5 an average between 5 M1 candles...smoother...quieter....better signals for faps to be able to make a baetter trade.

maybe less trades on M5 but a better quality trade

I haven't had a bad trade on the M5 for over a week....

[Short14]

All I can say is I have been running the m5 time frame and the trades have been less but very productive. My floating losses are way less....


My $3000.00 practice account I opened Yesterday morning has increased to $4682.00

My live account had $1050.00 in at 10:00 am Yesterday morning now has $1463.60 in it at 3:54 pm

So I am happy with M5

[magpie69]

Hey guys - enjoyed reading your posts immensely since joining the forum. Very educational to say the least. ;) Are you using the 5min setting with just the EUR/USD or other currency pairs as well? Cheers.

[Short14]

Im trading eur/usd usd/chf

[Earl]

and I personally like eurusd alone....

1 trade 1 currency 1 sound cha-ching...

I don't have the stomach for 2 trades at a time...LOL (use to do 10)

really thats no joke:D

[Short14]

What happened to the No Guts No Glory Earl..... We miss him..

Just kidding... I was trading 5-8 also at 1 time 3 pairs Dumb Dumb Dumb

[wishiwasrich]

I must be doing something wrong. I have been online al day in demo with the M5 EUR/USD (at Earls settings) and am only just now in my first trade of the day.

Is it common for everyone to have differnent results to the same EA and settings?

Also what is the best broker to use if I only want to set up a $500 live account?

Thanks

[wishiwasrich]

Hey Earl

I know you mentioned FXDD, would you recommend them for a $500 live mini account?

[Earl]

Hey Earl

I know you mentioned FXDD, would you recommend them for a $500 live mini account?I have 3 live accounts with them...mine my wifes and my dads....np great service

[^eagle^]

Hey Earl

I know you mentioned FXDD, would you recommend them for a $500 live mini account?

500 is too small for a mini

Get a micro from IBFX

FXDD does not offer micro with mt4

[Earl]

sure fxdd offers micro...!!:D

you open and mini account and tell them you want micro trading

I'm using micro trading.....:eek:

[^eagle^]

Really? they offer micro? Wish IU new that when I had my 500 account.

As far as you using a micro....

PFFffffffffffT! ROTFLMFAO>

Bwahhahahahahaah!

HuHohohohohohUhopbhuhohuhouhbuohnuohujohooo

Hoo!
SnifF!

Sorry!:D

[mystikdragon7]

Earl, micro, huh?

[wishiwasrich]

Showing off my noobness, but recapping. Open live trade with FXDD $500, then call them to request micro?

What ratios etc. would you recommend in this situation?

PS. Thanks for the help!

[Earl]

200:1 is the best thing for you

[mystikdragon7]

200:1 is the best thing for you

I agree:) 200:1 is a really good leverage setting.

[alan]

400:1 baby...livin on the edge...*rock music playing in the background*