Do professional traders use time based bars for footprint?

niczg

Newbie
Hi everyone I hope your well.

I was watching a course about footprint charts and the course said that professional traders don't use time-based charts and they mainly use Renko and volume charts.

I am still an amateur trader so I would like to know what you guys think.

Thanks and have a great day.
 

1nvest

Well-known member
I think whoever was providing that course is talking bollocks. You need to understand that professionals will use a multitude of tools and strategies at their disposal be that using time or non time based methods. all in the name of portfolio diversification. you will have hedge funds for example that focus on momentum type strategies, whilst also you might have the same hedge fund using trend trading philosophies. because not every method will work all of the time, they diversify their instruments (stocks, bonds, commodities, FX, real estate etc) and diversify their strategies and also will have their own mix of individuals that will favour their own type of charts.
to generalise by saying "pros" do this or "pros" do that, is so far off the mark its just nonsense.

hedge funds for example will employ a number of hedge fund managers who each specialise in these areas. Terry Smith is an example, who now runs the fundsmith range of mutual funds and ETFs. he has been renowned for his use of "value" investing. long term investing with a slant on the fundamentals aspect of a company. he wont daytrade, he wont use momentum etc. he's a pro. does that mean that pros only use value investing? No of course not

Meb Faber, a hedge fund manager and now co owner of the cambria range of mutual funds who prefers a long term momentum style trading approach and written a few books on the subject. Meb and Terry are both pros. Meb uses a moving average for his identification of a trend. and yet you will have individuals who will convince you "Pros dont use moving averages". complete rubbish.

you dont become a pro because you are using footprint charts, equally you dont become a pro because you are using time based or non time based charts or any particular trading strategy employed. its not what you are using that makes you a pro, its whether you can make it work for you.
 
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niczg

Newbie
1nvest GB10Y is in a late stage 2 but im still looking for buys because we are above the 30 week MA.

Price didnt reject from the 10 week MA so im focusing on price to reverse from the 30 week MA and the support zone.

How are you looking at this 1nvest are you thinking the same thing or do you have another way of looking at this.

Have a great week 1nvest.


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