Do you know what a 1-minute timeframe in forex is all about? How many of you know this concept and consider it a profitable timeframe in forex?
As we talk about a 1-minute time frame, it is a perfect time frame in forex for someone seeing extra detailing in price movements. It is meant for those traders who are potentially moving in and out of the short-term trades in the last few minutes.
For trading on the 1-minute chart, it is crucial to build and test a robust strategy on the 1-minute chart. In addition, it would help if you were attentive when trading on one minute because bars/candles are generated every minute.
Is 1 min time frame best for the intraday?
It would be the best option to strategically invest your money as a new trader. In-depth research is required to decide which time frame can show you profitable results.
The best time frame for intraday trading generally starts from 9:30 am to 10:30 am. Being a novice, you should observe the forex market for 15 minutes and then begin with the trading.
What are the advantages of a 1-minute timeframe?
1. Fastest results
When you are in trading, make sure you have a lot of patience. Some are patient enough to wait for long trades to expire, while others may be less patient to enter long trades. Thanks to this, a 1-minute strategy is the best choice for later.
Remember that with a 1-minute strategy, the results are visible after only 1 minute, so after such a short time, you will know whether you have won to continue or you have lost in a strategy to regain your defeat.
2. High chance of profit
You do not need many changes in supply and demand to cause the slight market movement that traders expect in a 1-minute strategy.
There are very few movements and price movements, and from a slight movement, a trader has a chance to make a profit, unlike swing trading, which requires many price changes to make a big profit.
Another reason that increases the chances of profit is that the tiny movements needed for a 1-minute trading strategy are much more common than larger price movements.
3. A large number of trades
The 1-minute trading strategy allows you to place more trades in one day. Among these many trades, you have profits and losses. Thanks to the privilege of numbers, it is easier to plan the recovery of lost trades within a given trading day.
4. No overnight risks
Scalping with a 1-minute strategy allows you to avoid overnight risks, such as overnight stays.
There are no events all night, as all events take place for only 1 minute.
Finally, a 1-minute timeframe is among the lowest time frame charts, known as “scalper paradise.” One of the most significant benefits of this timeframe is that you can use it for scalping or trading during pre-release price movements on specific news items. A trader can also use it for trading retracement entries on the high-impact news releases once the market has started to hurry in just a matter of seconds to minutes.