Is It Even Possible to Create Something Profitable for the 5 Min Timeframe? - page 2
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that's because even when you have good intentions to trade on the known trend, the indicators are less stable on M5 and they can repaint easily. So while some indicators are truly not repaint, some others are only non repainting on timeframes after M30...while the same indicators give False signals on M1 - M5. A human will ignore a false signal, but the indicator signal has to be more controlled so the EA doesn't trade upon a flickering signal. The moving average value on the current bar repaints constantly, but volatility based tools don't change their information so soon. Multitimeframe indicators were one solution to prevent false signals, also an MA with standard deviation filter and cluster filters.
I don't use indicators that repaint I have a healthy fear of that don't worry
It's possible but I'd have to ask: why do you care? If you can make a profit using any other time frame, then so be it. Go make your money. Why does this have to happen on a 5-minute chart?
Say I use a daily chart with a TP/SL of 100 pips and a 1 pip spread, while you use a 5 minute chart with a TP/SL of 5 pips and the same 1 pip spread. I'm spending 1% on fees while you spend 20% on fees.
I don't know about you, but I wouldn't be so concerned with working harder for less money.
But you might think "yeah but on the 5 minute I can catch all the up and down movements!" ... first, don't kid yourself, it's not going to happen like that. And even if it did, it's simpler to get more funding than it is to trade more. If I double my funding compared to you, it's not going to matter how many 5-minute trades you pull off. I'm still far more likely to end up with more money in my pocket when it's all said and done.