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06/07/18
08:49
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Originally posted by RickM
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Hi Martin
You made a statement last night that you don't think you could stand the pain of watching M5 for 2 months.
You are actually right. Trading M5 can be boring on many nights because you can spend hours watching the screen for little return. On other nights the action is full on and you can earn many pips.
I just go through my routine of starting with H1 Charts / Checking ATR and watching for trends developing.
If I see no real movement within the first 90 minutes, I cease trading M5 for the night. There is no point watching paint dry. Trading M1 is faster so I may drop down here to earn some pips to meet my weekly target requirements.
Here is the strange think, the faster the time frame doesn't mean the faster action. This is because you can spend hour and hours looking at a computer monitor for a few pips. So pips to screen time can be low.
If you want the highest pip count per screen time, there is a clear winner.
The Day Chart only requires 30 minutes a day and you can profit many hundreds of pips for doing NOTHING.
Just enter on a correct trade decision and let the pip count grow while you sleep.
The Day Chart swings provides half of my profits for doing NOTHING.
M5 also provides many pips but its a hard work and sometimes boring.
Last night was below average on M5, I only made around 60 pips
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I take my hat off to you guys trading the smaller time frames. I could never do it - I'm just not wired that way.
I hold my positions anywhere from a one day to a couple of weeks. So yes, I spend little time in front of the screen but I like it that way - set and forget.
I reckon Rick could make multiple M5 trades in the distance between my entry and stop