Trouble using technical indicators on a minute chart when trading indices

Hi guys,

I'm trying to master index trading on a minute chart. Although I'm currently breaking even and have not made any terrible losses (or inspiring gains) - there is definitely something that I'm doing wrong.

I think it's a question of finding the right exit point. So far I've failed to find it in 100% cases.

My method is pretty simple. First thing when the index opens, I wait to confirm the trend. Tick. I can manage that, no problem here. I read some news and I look at the biggest cap stocks in that index. This is easy.

Secondly, I put RSI and MACD on my minute chart. Then I watch for the reversal of a trend - basically where RSI hits the middle line and where the MACD oscillation starts fading.

It just never works out.

The part where I've marked with a vertical blue line on the screenshot - RSI is still going up and MACD has just had a fading red, so next we're going to have a green on MACD. Wrong, it suddenly goes into a tailspin. For the first two minutes after the blue line I'm just watching it decline thinking it will bounce back and then before I know it, it's already too late to exit.

So, at the blue line, I was $50 up. Had to exit, pocket the win and quickly open a short trade and within 16 minutes pocket another $30 but I didn't do it... ok, I'm still going to end up with a small win but the amount of time I've wasted on this... it just doesn't stack up. Instead of making several quick trades during a day, I'm usually stuck with one long painful daily trade and some $10 plus in the evening.

So, I think my main question is - what am I doing wrong? Because this is the trap I keep falling into.

And another question, what technical indicators are you, guys using either on minute charts or when trading indices in general? Thanks :)

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