Horses for causes. Why are you considering switching to 5 min from 3min?
If you are after a clearer picture of short term demand and supply, you are probably better off using tick charts.
David Knight
Established member
- Messages
- 946
- Likes
- 213
?-Why
?-How did you reach this conclusion
?-What is the statement based on- your work or someone else's
?-Is this belief irreversable or is it possible you might review this opinion tomorrow/next week/or at some point during this thread depending on what gets posted here.
One of the reasons I ask is because that's a very big statement. you made there.
An indication as to how big is the number of words. I.E, very few words.
You'll no doubt have noticed how few words are required in maths.. and why.
It's a bit like saying 'There is/ is not a God'.
Ok as far as it goes, but really of no practical use for those who seek answers to the big questions.
Personally, I would be scared to make such a statement.
But, humility is a lesson one tends to learn later in life.
(Or later in your trading account, take your pick)
TiME/ PRiCE
(the small 'eyes' are there for a reason.)
At the risk of losing some readers here at the mere mention of his name,....Gann said..
TIME/PRICE are the same thing.
I looked at Gann. I moved on.
Still, years later, I find that I can neither prove nor disprove that statement to my own satisfaction and certainly not scientifically. But I will say- time is important.
(Side note)
For many, Gann is to trading what a cuckoo clock is to quantum mechanics (assuming such a thng actually exists-( QM...the cuckoo clock is real, at least I think it is, I've never actually seen one, screw it, I'll assume it does. I've never actually been to Australia either but I ****ed an Australian girl for a while and that's good enough for me... ).
3M/5M/TICK ETC
System dependent. You use what works, no doubt built to a large degree on your belief system.
My belief system is built on the fact that GS are a bunch of sociopaths whose one mission in life is to screw everybody over.
You will have to excuse me if I don't present the fuly detailed evidence based case to back up my own one line staement.
Its just that I don't want to derail the thread.
BUT..
One logical conclusion (For me) that follows my belief system is there is no edge in a 5 minute chart even though it's the one I prefer next to the Daily.
It is sometimes useful to be reminded.
"?-Why
?-How did you reach this conclusion
?-What is the statement based on- your work or someone else's
?-Is this belief irreversable or is it possible you might review this opinion tomorrow/next week/or at some point during this thread depending on what gets posted here.
One of the reasons I ask is because that's a very big statement. you made there.
An indication as to how big is the number of words. I.E, very few words.
You'll no doubt have noticed how few words are required in maths.. and why.
It's a bit like saying 'There is/ is not a God'.
Ok as far as it goes, but really of no practical use for those who seek answers to the big questions.
Personally, I would be scared to make such a statement."
Lol
and which I quote :
"?-Why
?-How did you reach this conclusion
?-What is the statement based on- your work or someone else's
?-Is this belief irreversable or is it possible you might review this opinion tomorrow/next week/or at some point during this thread depending on what gets posted here.
One of the reasons I ask is because that's a very big statement. you made there.
An indication as to how big is the number of words. I.E, very few words.
You'll no doubt have noticed how few words are required in maths.. and why.
It's a bit like saying 'There is/ is not a God'.
Ok as far as it goes, but really of no practical use for those who seek answers to the big questions.
Personally, I would be scared to make such a statement."
Lol
David Knight
Established member
- Messages
- 946
- Likes
- 213
"?-Why
?-How did you reach this conclusion
?-What is the statement based on- your work or someone else's
?-Is this belief irreversable or is it possible you might review this opinion tomorrow/next week/or at some point during this thread depending on what gets posted here.
?Why-
GS
?-How did you reach this conclusion-
'System dependant'
?-What is the statement based on- your work or someone else's-
(1)- Even the most talented people in any field owe a debt to the work of those who they have studied.
(2)- The price on a 3 minute chart is identical to the price on a 5 minute. So the choice must be based on some other criteria. (See later)
I've decided that this criteria is best served outside chart selection altogether. I mostly trade without a chart. It's just there as a general reference during trading hours.
The chart is far more important in planning my strategy outside trading hours.
TA trading includes,to a large degree, the study of historical data. I'm a great believer in the merits of that approach.
RE (2)- 'Some other criteria'
It's always important to stress in any TA discussion (which many regard as a pseudoscience) that the goals in trading are to minimize loss and maximize profits.
Using a Tick chart won't help make you a better trader unless you know exactly why you are using it. In my case, I know exactly why I'm not using it.
?-Is this belief irreversable.
It's difficult to stay on your well considered chosen path in life if one is going to keep reversing...
All I was really saying in my original post was that a one line statement with no explanation is not helpful for those who want trading forums to live up to their mission statement.
Still Brumby, you're helping to address that issue...albeit by poking me with a stick. But that's OK
..............................
?-How did you reach this conclusion
?-What is the statement based on- your work or someone else's
?-Is this belief irreversable or is it possible you might review this opinion tomorrow/next week/or at some point during this thread depending on what gets posted here.
?Why-
GS
?-How did you reach this conclusion-
'System dependant'
?-What is the statement based on- your work or someone else's-
(1)- Even the most talented people in any field owe a debt to the work of those who they have studied.
(2)- The price on a 3 minute chart is identical to the price on a 5 minute. So the choice must be based on some other criteria. (See later)
I've decided that this criteria is best served outside chart selection altogether. I mostly trade without a chart. It's just there as a general reference during trading hours.
The chart is far more important in planning my strategy outside trading hours.
TA trading includes,to a large degree, the study of historical data. I'm a great believer in the merits of that approach.
RE (2)- 'Some other criteria'
It's always important to stress in any TA discussion (which many regard as a pseudoscience) that the goals in trading are to minimize loss and maximize profits.
Using a Tick chart won't help make you a better trader unless you know exactly why you are using it. In my case, I know exactly why I'm not using it.
?-Is this belief irreversable.
It's difficult to stay on your well considered chosen path in life if one is going to keep reversing...
All I was really saying in my original post was that a one line statement with no explanation is not helpful for those who want trading forums to live up to their mission statement.
Still Brumby, you're helping to address that issue...albeit by poking me with a stick. But that's OK
..............................
Maybe i should rephrase or make it more clear what I was getting at. I find that if we look at 1 min chart or trade a 5 min chart sometimes you will get a different closing and opening price depending on your broker. Moreover, some platforms are not even in sync with broker time in the first place.
People who follows patterns from candles can adjust their chart and completely different candle would be formed yet same price. Your Hammer or doji will be completely different based on your timeframe which kind of makes them meaningless and random.
People who follows patterns from candles can adjust their chart and completely different candle would be formed yet same price. Your Hammer or doji will be completely different based on your timeframe which kind of makes them meaningless and random.
A reminder to begin with :
and your one liners
and
Your original assertion was that 5 min bars do not present an edge. I have no idea how your comments above are connected to any explanation.
and your one liners
and
Your original assertion was that 5 min bars do not present an edge. I have no idea how your comments above are connected to any explanation.
