If you are after a clearer picture of short term demand and supply, you are probably better off using tick charts.If a greater number of traders use 5 than do 3, then the 5 might present a clearer picture of at what place buyers and sellers may be lining up to enter.
?-WhyI don't think time is as important as price.
and which I quote :... there is no edge in a 5 minute chart even though it's the one I prefer next to the Daily.
and your one linersa one line statement with no explanation is not helpful for those who want trading forums to live up to their mission statement
?-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.
?-How did you reach this conclusion-
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.?-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.