If you don't understand M5 chart, you will lose a lot on it.
The key to understanding M5 lies in trading it naked.
Naked trading means focusing only on price action and ignoring indicators.
All indicators are lagging. So ignoring them won't be a problem if you know how to read price action.
Read this blog post in which I have posted a 30 minute video tutorial how you are going to trade on M5 chart naked.
The concept of support and resistance is very important.
Using support and resistance concept on M5 timeframe can help you a lot in reducing losing trades.
The only advantage of M5 chart is it can help you reduce risk.
The other side is most of the time you will get false signals.
So you will lose a lot also. If you can solve this problem you can trade profitably on M5 chart.