TheBramble
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Candlesticks, Renko, Kagi...which one(s) do you use?
Which Chart Type?
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TheBramble
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Not too far off the mark Chump. We all tend to see things in the charts from time to time that aren't 'really' there.
Hi all...have used all...Renko...Kagi...and candles..(to find way forward..!!)
I think the kagis are nearest thing japanese have to P & F....have many similarities...all have almost same way of 'filtering' the 'noise'...I think the best way to trade is using a charting method that has ability to filter 'whipsaws'....Renko is similar but has different way to claculate the data....
Candles is the odd man out as candle charts do not do what other two do...candles are like bar charts that shows all....and no filtering of whipshaws...
I would suggest Stebve Nisons epic..Vol 2 to read about kagi and renko...
I think the kagis are nearest thing japanese have to P & F....have many similarities...all have almost same way of 'filtering' the 'noise'...I think the best way to trade is using a charting method that has ability to filter 'whipsaws'....Renko is similar but has different way to claculate the data....
Candles is the odd man out as candle charts do not do what other two do...candles are like bar charts that shows all....and no filtering of whipshaws...
I would suggest Stebve Nisons epic..Vol 2 to read about kagi and renko...
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TheBramble
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Yes, but a whipsaw to one person could trigger their stop, while that same whipsaw to another, it is just noise.
The filter is the amplitude of the noise that we decide to ignore.
BTW - I'm surprised at this stage (candles 12 / OHLC bars 8) just how many use bars (for other than relaxing...).
The filter is the amplitude of the noise that we decide to ignore.
BTW - I'm surprised at this stage (candles 12 / OHLC bars 8) just how many use bars (for other than relaxing...).
Quote:
Yes, but a whipsaw to one person could trigger their stop, while that same whipsaw to another, it is just noise.
Interesting. I don't follow the idea of 'noise'. I dont believe there any such thing. Every tick is important. It shows important price discovery points. Of course, this is only relevant to the time frame you are trading. Stop running is important to my comprehension of the market. I want to know when and where it is happening.
As for Mr Nisson, I read somewhere the other week that he couldn't trade his way out of his hat. Apparently, that came from his manager while he was working at Merrill Lynch in the 80's. Assuming that this was in the 'public domain' and potentially libellous if false.....Those who can't, teach.
Yes, but a whipsaw to one person could trigger their stop, while that same whipsaw to another, it is just noise.
Interesting. I don't follow the idea of 'noise'. I dont believe there any such thing. Every tick is important. It shows important price discovery points. Of course, this is only relevant to the time frame you are trading. Stop running is important to my comprehension of the market. I want to know when and where it is happening.
As for Mr Nisson, I read somewhere the other week that he couldn't trade his way out of his hat. Apparently, that came from his manager while he was working at Merrill Lynch in the 80's. Assuming that this was in the 'public domain' and potentially libellous if false.....Those who can't, teach.
zigglewigler
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Candles and Three(two)-line break. Why the hell can't I vote for two chart types?
I demand my second vote!
Recently moved away from kagi, esignal doesn't do yin/yang lines which loses its clarity. Three-line break is the mutts nuts for swing/range trading, how point and figure ought to be.
Nison book shows you how the Japs do it, he makes no extraordinary claims himself.
I demand my second vote!Recently moved away from kagi, esignal doesn't do yin/yang lines which loses its clarity. Three-line break is the mutts nuts for swing/range trading, how point and figure ought to be.
Nison book shows you how the Japs do it, he makes no extraordinary claims himself.
Most of the private traders I know use candlestick charts - not because they know how to use them, it just sounds 'exotic' and they havn't learnt how to use a barchart and have zip chance of even attempting to understand PnF - 'baubles and beads' syndrome.
Called support and was directed to send in registration details via e-mail to support.........still awaiting reply........in between, the markets have opened and closed....maybe tomorrow.
Shame really because their P&F is so good, I'd gotten to rely on it.
Shame really because their P&F is so good, I'd gotten to rely on it.
