I'm sorry. I didn't realise. I can think other thoughts if you want to go back to the longer TFs?
Seriously though, and very germane to this thread, the shorter the TF the larger the noise component, where traditional TA works less well to not at all. There seems (to me at any rate) a pivotal point between specific TFs, which is not set for any given instrument or market or time, but shifts according to factors which I have yet to fully identify, where TA ‘just about/sort of’ still works and where noise makes up for the rest of the action. I like this area. Trading with expectations of quasi-randomness or perhaps more simply a recognition of the random elements of trading operating at these shorter TFs makes it a lot simpler not to get married to your analysis and commit the error of rejecting the reality when it diverges from it. You’re only ever in the market when it’s going in the direction you believe offers the greatest probability of continuance, based on your analyses. What I used to take as a breathing point (a retrace) and potential new stop placement level now simply become an exit.
It’s an extremely rewarding area to trade, for me at any rate, as it precisely suits my current trading style (I’m not discounting the very real possibility I’ll shift to a totally different style as and when circumstances conspire – always leave your options open I reckon).
It’s a combination of a large number of trades, very low absolute pip/point risk, very short exposure times and never giving very much to, or back to, the market. It involves concentrated screen time, but allows total freedom in when and for how long I want or choose to sit and trade. Wouldn’t suit everyone.
