Bro, he don't know PDs. Jack Hershey the Arctic explorer has adv. degrees in statistics, but cannot spell correlation: http://www.elitetrader.com/et/index.php?search/31921/&q=corrolation&o=date&c[node]=1
To come to the realisation that there is no "system", we must need a "system" to attain that realisation!
I attached a drawing where the bar parts are ID'ed. A 5 min bar forms over 300 seconds. The ID'ed parts appear in an order of events. for the picture I drew these occurrences appear in the following order. 1. O 2. leg 1 3. H 4. leg 2 5. L 6. leg 3, and 7. C Scientists use this information in defining expressions. The expressions are placed into forms of mathematics that are accepted internationally as standards for communications. SA is a field where structures, processes and results are examined to be able to achieve goals. For me I do SA for markets and meet a goal of doubling my capital every 1 to 3 days. Many ET contributors trade successfully and achieve other goals. You are an experienced trader who provides liquidity to markets by participating. You make bets and get the consequences. I studied the markets for 20 days to learn the system of operation of the markets. I found that the market was completely definable and by SA the full offer of the market could be taken by the PM of the HS that made up the market's paradigm. The market offers to let a participant double capital every 1 to 3 days. Learning how a bar forms is pertinent since it provides many degrees of freedom. It also shows the order of events that transpires.
The person was David Goodboy. His hustle was to get fees for finding and delivering money to money managers. In your experience, you got to believe in a topic he named something (price drivers). Too bad for you. In science and math, there are reasoned facts and proofs. David Goodboy, did not participate in any of that type of reasoning. Price is a lagging variable in the system of operation of the markets. With respect to price changing, price changes as a result of the minority who control the market. To view this "aspect of control", monitor the minority on the DOM. All trends end when the minority reverses sides of the market. David Goodboy has never seen the market in operation.
I do trade bar by bar. In bar by bar trading, signal measures are made on the independent variable, volume. (see the three signal sheets: PP's, A band, and bands B thru K. Making money to take the full offer of the market involves using the market context which is ever present and without noise, flaws or anomalies, I. e., the context is ALWAYS certain at 100%. The context surrounding the independent volume signal involves: 1. the type of trend (one of four types) 2. the type of turn (one of three types) 3. If a false positive signal was given (see move reversal sheet) 4. If a failsafe signal is used (either a BM or a BO T1) 5. And the combination (1 of 8 possibilities) of three fractal sentiments (30, 5 and turn sentiment arrow) Each of the 5 aspects of the context is 100% certain. Since optimum trades do NOT occur at ends of bars, the trading decision and timely action take place within bars and a reasonably close to bar extremes as is possible to cat with "certainty". There is no connection between making money and lifestyle. The offer of the market always exceeds any possible lifestyle. Just as in modern economics, there is no need for a full employment economy. No ne ever has to work full time to enjoy any chosen lifestyle. Anyone learning to trade purposefully, knows in very little time (one or two months) that he has gained a lifetime of freedom. college>>>Poughkeepsie>>>Greenwich>>>>Zurich>>>>Bucks County>>>> Phoenix >>>>AZ/HI/ME. golf>>>>sail>>>>>ski >>>>glide>>>>>travel by seasons. Some notes: candlesticks are flawed since the body is determined incorrectly (incorrectly means unscientifically). check your journal for the absence of volume in charts.
If volume independent why do you need the price bars.I have a system that uses only volume.there`s no absence of volume in my journal.there`s absence of the price type of sticks which are more of an eye candy to me.