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  1. #1
    poe
    poe is offline
    Senior Member poe's Avatar

    Are 60 sec trading profitable ? !!!

    From what i understood in some articles i read here and there, isn't almost possible to predict price thru technical analysis within that short term period. What about using for those short term deals a martingale and anti-martingale strategy + some personal signals and knowledge ?

    The problems is that atm im not able to spend hours in front of the computer doing the practical part or trading on IQ Option (broker i chose). My idea was to split the few hours i have during the day and do some theoretical studies and some trades( 60 seconds trade ).

    Should i change my schedule and deals period 2m+? should i do more theoretical work than practical or viceversa ? i would love to hear some thoughts .

    Thanks in advanced.

  2. #2
    Active Member ehenderichs's Avatar
    Maybe 60 seconds is very short and in general short term expiries are not recommended for newbies. I am a newbie myself and was getting frustrated waiting around for hours for a signal. Especially since I could only trade a few hours in the evening. So I studied 1 minute timeframe chart for a weekend and found the patterns do occur and you could device a strategy around this. So at the moment I trade 2-5 min expiry trades mostly based on 1 minute timeframe. Can make 10+ trades on a evening and grown account from 250 to 400 euro in 4 weeks.

    Just to clarify I started trading demo account somewhere from march this year and started with real money about 4 weeks ago.

  3. #3
    poe
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    Senior Member poe's Avatar
    sounds good to me @ehenderichs, to be honest i wouldn't bother to use a 1 or 2-5 minutes strategy... Im a newbie as well and i ve been trying to go into a lot of technical analysis and patterns + ton of side studies.. Im also using a demo account for the last week and combining martingale and anti martingale using only the 2% of my bankroll in every trade allows me to afford almost 10 continue losses...

    May i ask u where u get your strategies from ? Or did u develop them by yourself while u were using your demo account ? and when u think its the rite time to take the leap from demo to real money cuz i don't think i won't spend much time with that demo...

    thanks for sharing

  4. #4
    poe
    poe is offline
    Senior Member poe's Avatar
    yeh i have been using as well a demo account doing fairly good investing only the 2% of my roll with a martingale and antimartingale strategy... i wouldn't mind change for 2-5 min trades, but i still find hard to recognise the patterns thru technical analysis ....

    What are the main indicators u use and how u use them ? Did u develop your own strategy?

    i don't think ill spend too much time using the demo account.... to be honest i don't wanna get rich i just need some side income from now and learn the most i can ....

    thanks for sharing

  5. #5
    Active Member ehenderichs's Avatar
    I use EMA (21 and 50) to help me spot the patterns. I wait for crossover 21x50 for trend direction, wait for pullback to 21/50 and candle to indicate continuation of the trend. Besides I use stochastics and 8 EMA to determine the strength or if the trade is dangerous. That's it in a nutshell.

    I find the hardest thing trading for real money the additional emotions. Not sure how you will handle that especially since it seems you need an extra income.

  6. #6
    Legendry Member Okane's Avatar
    Quote Originally Posted by poe View Post
    From what i understood in some articles i read here and there, isn't almost possible to predict price thru technical analysis within that short term period. What about using for those short term deals a martingale and anti-martingale strategy + some personal signals and knowledge ?

    The problems is that atm im not able to spend hours in front of the computer doing the practical part or trading on IQ Option (broker i chose). My idea was to split the few hours i have during the day and do some theoretical studies and some trades( 60 seconds trade ).

    Should i change my schedule and deals period 2m+? should i do more theoretical work than practical or viceversa ? i would love to hear some thoughts .

    Thanks in advanced.
    Just try trading and reading during different hours till you get the hang of it.
    Maybe trade on the go with your phone. You don't have to sit in front of the PC
    when you trade long term, in fact long term might be better for people with less time on their hands.
    You spend some time on the analysis, place a few long term trades and then go away.
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  7. #7
    Active Member ehenderichs's Avatar
    Quote Originally Posted by Okane View Post
    Just try trading and reading during different hours till you get the hang of it.
    Maybe trade on the go with your phone. You don't have to sit in front of the PC
    when you trade long term, in fact long term might be better for people with less time on their hands.
    You spend some time on the analysis, place a few long term trades and then go away.
    The main issue - for me at least - is that trading longer terms also means you have to wait longer for signals to form.
    And missing one can be frustrating if that means you have to wait again, that why I 'feel' (and maybe other newbies aswell) that spend a lot of time in front of PC. I have to admit I am used to it, since I work as software developer. Sometimes I think the trading short or long term is a personal preference, granted short term maybe harder to predict.

  8. #8
    poe
    poe is offline
    Senior Member poe's Avatar
    Quote Originally Posted by ehenderichs View Post
    I use EMA (21 and 50) to help me spot the patterns. I wait for crossover 21x50 for trend direction, wait for pullback to 21/50 and candle to indicate continuation of the trend. Besides I use stochastics and 8 EMA to determine the strength or if the trade is dangerous. That's it in a nutshell.

    I find the hardest thing trading for real money the additional emotions. Not sure how you will handle that especially since it seems you need an extra income.
    Pretty useful your comment i really appreciate, i can add some more ideas to my trading sessions.

    Regarding the side income, i feel no worries about it, im trading with money im not afraid to loose, and that monthly profit i hope to get its just a plus and a way to build my way up faster and excited in this business... so, no real pressure, i just don't wanna loose that money cuz id prolly won't deposit again if so. Even if i breakeven at the beginning im ok with that as long as i can keep my learning process at least until i finish my masters and devote more time to this.

    Also emotional part of the business (referring to real money trading) im pretty sure ill love it, i used to play tons of hours of online poker for a long period -in fact i stopped cuz i have to give more time to my thesis now- and things like: controlling anger when loosing, assume a downswing or a bad beat, bankroll management and work hard are unique way to dominate the profession.

    Quote Originally Posted by Okane View Post
    Just try trading and reading during different hours till you get the hang of it.
    Maybe trade on the go with your phone. You don't have to sit in front of the PC
    when you trade long term, in fact long term might be better for people with less time on their hands.
    You spend some time on the analysis, place a few long term trades and then go away.
    I already got the app Okane so i prolly follow your advice, maybe i can trade while im out and leave some space for the theoretical part while im in the confort of my home.... Problem rite now is that since im working on my thesis i don't go out as much as id like

    If u are suggestion long term deals... if u were a newbie, with 300-400$ how much of your capital would u invest in each trade? How long would this period be? Do u really think it worth the wait considering that capital would be really short?

    Quote Originally Posted by ehenderichs View Post
    The main issue - for me at least - is that trading longer terms also means you have to wait longer for signals to form.
    And missing one can be frustrating if that means you have to wait again, that why I 'feel' (and maybe other newbies aswell) that spend a lot of time in front of PC. I have to admit I am used to it, since I work as software developer. Sometimes I think the trading short or long term is a personal preference, granted short term maybe harder to predict.
    I agree with erry word ehenderichs says here... Since im not planning to invest more than 2-4% of my capital on each trade i don't think long term trades are made for me -at least not atm-. One of the thing why i chose Iq Option is because u have the chance to start with very small trades such as 1$... i was planning to deposit from 300-400$ and make 10-20 short term trades a day....

  9. #9
    Legendry Member Okane's Avatar
    As a newbie you want to first confirm you can make money (during a long time)
    And it doesn't mean "oh I had 10 wins in a row so now I am a master trader" but rather
    being profitable during at least a few months. And during that period I would not invest more
    than 1% of my total funds. I would also do only demo for a few months prior to that.
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  10. #10
    Active Member ehenderichs's Avatar
    Quote Originally Posted by Okane View Post
    And it doesn't mean "oh I had 10 wins in a row so now I am a master trader"
    Totally agree, it is easy to get carried away by a few wins. As with all skills you need experience.

    As a software developer there is a rule of thumb: you need 10 years of experience to call yourself a senior developer.
    In sports there is a common understanding you need to practice a technique at least 10.000 times before it is set.

    Trading is no different!

  11. Thanks Okane thanked this post

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