Registered: Jun 2009
06-15-11 12:26 PM
Quote from semaj68651:
Does priceactionlab work well with intra-day time periods like 1min,3min AND 5min time periods?
When I first tested the demo I tried 5min bars and it produced many patterns. The main issue is whether these patterns are robust enough for using them in real trading. The good thing about this program is that you can always test these patterns on unseen data using a fucntion called Test Patterns. You can thus see how many are profitable on randomly selected unseeen data samples. It is a lot of work but it has to be done. It is also the honest way of doing things. Some programs I tried before employed walking forward optimization or even used implicitely out of sample testing to present only with good results that were nevertheless the result of data snooping bias. Keep in mind that this type of testing takes long and requires a lot of computing power. It is not for the average Joe. Do not get this program unless you have a spare powerful computer to install it on. Do not even think that you will have this program running while you watch the market, send emails, surf the web, etc.
As far as 1min and 3min I have no idea. After I got this program I also turned to a position trader because in addition I could get better signals from it but I had decided long ago anyways that I wanted to start taking position in the markets for larger winners and smaller losses.
Look at their support faq. They have some good notes there about intraday use.