Tips for 5 min betting ?

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Old Apr 1, 2008, 10:51am   #1
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Tips for 5 min betting ?

Any Tips for 5 mintues betting ( choice odds ) ?
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Old Apr 1, 2008, 3:18pm   #2
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Any Tips for 5 mintues betting ( choice odds ) ?
Yes, quite simply Don't


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Old Apr 1, 2008, 3:20pm   #3
 
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That was going to be my reply but thought there might be a better one if someone has more info on the platform.
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Old Apr 1, 2008, 3:42pm   #4
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tar started this thread Trader333 & Shadowninja is this about 5 mintues betting or Choiceodds website ?
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Old Apr 1, 2008, 3:46pm   #5
 
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Trader333 & Shadowninja is this about 5 mintues betting or Choiceodds website ?
Choice odds for whom is the question.

As for betting five mintues, is this some kind of new instrument on the market or a peppermint only to be eaten on a Tuesday?
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Old Apr 1, 2008, 3:46pm   #6
 
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I only have experience of 5 minutes betting on IG. It is a good way of losing money quickly.

It sounds easy. Just pick a direction and go. In the blink of an eye, though, the situation can change.

I used to do 5 minutes, 20 minutes, 1 hour and daily binaries. I think "proper" trading is the way forward.
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Old Apr 23, 2008, 6:25am   #7
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5 minute trading is random. You are at the mercy of the next big trade that comes along and you don't know whether that trade will be a buy or sell. In addition, the marketmakers will be, constantly, trying to take out stops.The spikes will be a factor, as well.

5 minute traders with close stops are on a hiding to nowhere. The mm's love them, they are the bread and butter.

The problem is that there are a lot of sprats trying to make money in the markets. How do they do that? They go to intraday trading and put close stops on the trades. The bigger traders go for the longer term and have stops farther away. The marketmakers are in the market for the easiest pickings---pure business.

There are arguments against the spreadbetting companies and for the direct trading ones.

Get wise! There is no difference. The firms are not the gamblers, the majority of traders are, and it makes no difference where they go, they will lose their money unless very close attention is paid to probabilities. Bar size is extremely important when placing stops. Anyone placing a stop withing the average, recent, bar length is almost certain to get stopped.

Split

Last edited by Splitlink; Apr 23, 2008 at 6:42am.
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Old Apr 23, 2008, 9:20am   #8
 
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Originally Posted by Splitlink View Post
5 minute trading is random. You are at the mercy of the next big trade that comes along and you don't know whether that trade will be a buy or sell. In addition, the marketmakers will be, constantly, trying to take out stops.The spikes will be a factor, as well.

5 minute traders with close stops are on a hiding to nowhere. The mm's love them, they are the bread and butter.

The problem is that there are a lot of sprats trying to make money in the markets. How do they do that? They go to intraday trading and put close stops on the trades. The bigger traders go for the longer term and have stops farther away. The marketmakers are in the market for the easiest pickings---pure business.

There are arguments against the spreadbetting companies and for the direct trading ones.

Get wise! There is no difference. The firms are not the gamblers, the majority of traders are, and it makes no difference where they go, they will lose their money unless very close attention is paid to probabilities. Bar size is extremely important when placing stops. Anyone placing a stop withing the average, recent, bar length is almost certain to get stopped.

Split
In which case, why not trade that bar. Given one is almost certain to get stopped there, you will be almost certain to make a profit.
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Old Apr 23, 2008, 9:46am   #9
 
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I've gotta say I'm with fxscalper on this one split.

The sub 1 hour world is not random. It is noisy. It is manipulable. And the longer moves perceived in this world are created by something at a larger level.

But who cares.

The trick is that to achieve the things you describe the "big boys" are obliged to follow patterns that repeat. So you study. And you build an understanding. And you figure out how some days are different to others and if there is a way of taking advantage of this.

Then you sit quietly, like a wild cat, and when the market sets up you watch for the "big boys" to do their thing. And you jump, and hang on, and feed from their actions even though you're too small to do it yourself. Too small for them to even notice you. You're not at the mercy of the "next big trade" - it's effects and the actions needed to fill it are your bread and butter.

My world is sub-5 minute but I still only take 3 trades per day from each contract I trade; I wait a lot. The sub-hour world can be a lot of fun and very profitable.

But you do need good execution with timely information, no extra distortions, and the minimum cost. Which eliminates the spreadbetting companies.
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Old Apr 23, 2008, 11:00am   #10
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In which case, why not trade that bar. Given one is almost certain to get stopped there, you will be almost certain to make a profit.
Why not? I've been doing it, this morning on Footsie and am 18 points up. Nevertheless, it's not certain that stops and buying orders will make much difference. There is luck in this and a lot of random behaviour. I can , just as well be down by lunchtime.

Actually, Stevespray (hope I've got it right) put this forward a few months ago but it didn't go down too well. Newbies are sold on the breakout idea. It works---sometimes---
but you must keep an eye on the stops, in case, but the scalpers and marketmakers do push the price up and down before the breakout happens, making lots of money for themselves. This is all short timeframe stuff and dangerous for beginners.Beware of average crossovers, too, which is the same trap. The crossover lovers are normally getting into the market too late.
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