EZinvestor, Welcome to the thread. Yes, reading the entire thread is a very worthwhile endeavor... We all have, most of us numerous times... The lessons to be learned are two-fold... The mechanics to a winning system and one of sharing within a community... The answers to many of your basic questions may be found in my notes located at the links below. Summarized AHG: http://elitetrader.com/vb/showthread.php?s=&postid=1695880#post1695880 Images referenced in notes: http://elitetrader.com/vb/showthread.php?s=&postid=1697223#post1697223
As I'm catching up with the thread from my absence (nearly there), I'm noticing a lot of people are taking action off of HA bars. I gotta ask the question... whose found an advantage in doing this and why? I can't imagine hiding info could be more productive in gaining an entry but I could be wrong...
The HA Bars are NOT for entry, they are being used for timing the exit... they help keep you in the trade to take advantage of the runners... Piscuy re-introduced the modified bars... Suri, has a set that Anek is evaluating... But for entries nothing has changed regarding AHG.
O ok I must have missed that somehow as I'm caught up now. I noticed lots of people posting charts with HAs and nothing but them so I assumed action was being taken off of those.
I try to have no bias so can take the trade either way and enter the order manually. I enter the order once its a valid setup for me and enter it in the direction I think will be the one with the highest probability of success. P.
Recently just got my Tradestation account and hence able to display Time, Tick and Volume Charts. In term of trendline, it does make a difference in some instance. For tick and volume chart, it takes care of the pre-market trading quite well as well. I picked a trading day on 5 Dec 07 as a reference for comparison, with two charts side by side. I am not good to draw many conclusions. You might want to take a look to make your own judgement. 'NQ Time Chart 8hrs 071205a.jpg' 1 min and 30 min charts, premarket excluded. 5 days multiday chart, 5 Dec 07 'NQ Time Chart 24hrs 071205a.jpg' 1 min and 30 min charts, premarket included 5 days multiday chart, 5 Dec 07. The 1 min chart uptrend line is first few swing low points. 'NQ Tick Chart 8hrs 071205a.jpg' 233 tick and 1250 tick charts, premarket excluded. about 5 days multiday chart, 5 Dec 07 'NQ Tick Chart 24hrs 071205a.jpg' 233 tick and 1250 tick charts, premarket included. about 5 days multiday chart, 5 Dec 07 'NQ Volume Chart 8hrs 071205a.jpg' 1000 share and 10000 share charts, premarket excluded. about 5 days multiday chart, 5 Dec 07 'NQ Volume Chart 24hrs 071205a.jpg' 1000 share and 10000 share charts, premarket included. about 5 days multiday chart, 5 Dec 07 After having initial comparison of the above charts, I go for volume chart. 'NQ Tick Chart 8hrs 071205a.jpg' http://img138.imageshack.us/img138/7987/nqtickchart8hrs071205agr5.jpg 'NQ Tick Chart 24hrs 071205a.jpg' http://img502.imageshack.us/img502/4179/nqtickchart24hrs071205adk1.jpg 'NQ Time Chart 8hrs 071205a.jpg' http://img139.imageshack.us/img139/8954/nqtimechart8hrs071205apd3.jpg 'NQ Time Chart 24hrs 071205a.jpg' http://img137.imageshack.us/img137/5589/nqtimechart24hrs071205azm1.jpg 'NQ Volume Chart 8hrs 071205a.jpg' http://img135.imageshack.us/img135/4567/nqvolumechart8hrs071205qu6.jpg 'NQ volume Chart 24hrs 071205a.jpg' http://img267.imageshack.us/img267/7125/nqvolumechart24hrs07120jr3.jpg Chiu
Just want to make a comment about softwares... If anyone is using Ninjatrader and has MB... make sure if you are going to download the new MBTNavigator to download the new version of NinjaTrader (6.5, still in beta). I spent the better half of this morning uninstalling and reinstalling the 6.0 version only to realize this... On the bright side, the software has many cool new features!