Good close and great week! Went right down to the 2800 floor cash and responded well. Looking long again for next week.---Izzy
Specifically, what things does range do that time does not do? Range and 'walls' can be easily read on time based charts as well, IMO. I also think 'exhaustion' can be read more easily on a time based chart (or even volume). I will be testing it a bit more over the weekend, but see below a 12 tick range chart vs a 15-minute time chart. I chose 15-minute since that was what most closely approximated the range chart in terms of number of bars. This is of course just one day of data, but I fail to see the advantage of the range chart here. What am I not seeing? Personally, I think both the 5-minute and 1-minute looked pretty 'clean' and orderly yesterday. 5-Minute: 1-Minute:
just personal preference ...nothing else...thx....great illustration in favor of time based charts...I see the painting of the picture different than others for the most part....if we cannot place value on bar patterns formed by same size bars all the time with wick on winning end of bar then we cannot agree except to say to each trader is his edge. no edge no money....
my brother is giving me 2000 reason s to trade his time stuff....he is mad because I told him I see red I sell I see green I buy....
Personal preference I can understand. I can also understand how range charts compress during periods of inactivity. This may be seen as an advantage. But when I hear comments like 'Range charts are so superior to time based charts it is laughable' I'm curious if I'm missing something obvious (or something not so obvious). I try to keep an open mind.
the biggest difference for me is the 3 things I know at all times....all bars same size.....for clarity and consistency...dependability...next is one wick on winning end of bars...in other words entry opoints….or near....bars paint the channel walls for trend....just personal preference....sorry, laughable was used after 1 million years of observing...laughable, one million years...porgie still village idiot....no offense intended....u said monster comment.....open mind....I gathered 400 5 min charts a few years ago....studied them day and night....loved them....now I love range in my lazy old age.....there is no one way for everyone....psyche of each is the challenge...……..ur comments are very nice and wish u the very best trading and life in general.....
I am always commenting only about American eminis es nq ym……….intraday....prefer first 2 hours of market …..there are opps other times but too much proven to not like first 2 hrs......first 5 mins will take ur money first 30 mins not ur friend...…...9 oclock turn most days or big event time...…..30 min tims change most rollovers occur...but if range chart does not show the rollover I do not trade ….not lines, not times, but price...range does better of keeping me out of trading because all bars are same and all bars create their own trend......again personal preference....bar tips create the channels...walls...trends....find the right size bars for the different markets...there are key settings that never change...not moving averages....or no indicators at all just the naked charts....range cannot compress......only u can compress it....the bars...…..it only refuels when price does not move it...a 2 hour look back is okay but if u use key price lines that look a long ways back for you why do u need to see what u know is back there? permanent lines show pivots, yesterday open close yesterdays open....high and low....why do u need to see what the lines permanently are telling you I s back to the left....if u get the range charts set too short for ur market yes they wont help u...………………….. find a comparison chart time based that has -huge wicks and giant bodies one after the other and see what the range looks like...…in other words a wild market and see the range print the clear chart and the time doing the watusi………..….the nq is the wild one...but so full of fast gold...wow ..I am not professing to be a great trader...the time base charts are full of gold and traps...all charts after ur coins but still golden stuff with enough yrs study ..
I WILL AGREE THE TIME BASED CHARTS ARE FAR SUPERIOR TO ANY OTHERS IN ONE WAY GUARANTEED....PATTERNS....RANGE IS LIMITED IN THAT AREA....RANGE WILL SHOW HAMMERS / SHOOTING STARS....BUT BEYOND THAT VERY LITTLE....TIME CHARTS IS GOLDMINE OF PATTERNS AND PRICE ACTION STUFF...….MECHANICAL STUFF...GOODBYE