1m, or 1 minute, represents data collected over 1 minute plotted as a single data point.
In crypto trading, and charting specifically, the 1-minute time frame or chart is commonly used with scalping strategies to review a digital asset’s price movements plotted in 1-minute intervals over some specific time period.
Each bar, candle, or column would represent price action for a specific 60 seconds.
If we were to look at a single hour of the day on a chart for example, which is made up of 60 minutes, we would see 60 bars or candles plotted on that chart – 1 bar for each minute X 60 minutes = 60 bars or candles.
As this time frame is low, price action tends to move quickly, with a new bar or candle appearing on a chart every minute.
Scalpers open dozens of trades during the day, only holding trades open for seconds or minutes at times.
Trading on this time frame presents traders with many potential trading opportunities, but profits are low per trade since the time frame is comprised of very small price movements.
This generally means that more trades need to be taken to realize sizeable profits.
, increased trade-taking could result in higher transaction fees as more trades are entered.
Inexperienced traders generally have a hard time trading this time frame as decisions have to be made very quickly.
Noobs should look to trade higher time frames like the daily or weekly first, which present less chop and noise as price moves, allowing them to makes decisions over hours and days, instead of within minutes.