I see your point, profitseer, and that's what Dow Theory is all about. Nevertheless I am talking about a tradeable trend within your "tradeable frame". Now, how you are going to tell if the trend is tradeable or not is up to you, my friend. cpo
the market will hardly chop for 3 hrs on the 1min timeframe, even on 5min... beside this you can use a pattern made public by linda raschke. it is called "3 pushes down/up" or "3 little indian", means, when you have had 3 up- or downlegs, the trendmode is done and 1) a deeper corrective move or 2) a range or 3) a consolidation in the form of a triangle or 4) a direct trendreversal can follow...but you still have to choose what you like to look for...
Hardcash: The market chopped "perfectly" on the one min chart for the first three trading hrs of 9/11 as I posted before: (sorry for the blurriness..due to file size limitations)
Pabst, As long as you have been trading, I doubt you have ever seen a "typical" day in the market your whole life! (maybe, "Hey, this kind of reminds of a day we had in the winter of '89.")
Point well taken profitseer, but using 9/11 as an example of choppiness is like using Oct.29,1929 as an example of how shorting the market is always a sure thing.
Yeah, but if I made 18 points one typical day trading es, and then I had 180 untypical days where I either made or lost a few points, I can still say, "On a typical day I make 18 points." Right?
I guess it is all dependent on ones definition of "chop", BWTF are you talking about??? 85-90% I dont think so! Acutualy I can state a case that markets trend 90% of the time on one TF or another! It is simply a matter of ones perception. When is the last time the ES chopped in a range on the Daily TF??? In addition; Absolutely sure relates to the past, one thing you can be absolutely sure of in this game is that you can be absolutely sure of NOTHING! PEACE and good trading, Commisso