FootPrint Charts

Discussion in 'Technical Analysis' started by tommo, Aug 12, 2019.

  1. MichalTr

    MichalTr

    I haven't used them, so I can't tell anything about that company.

    But if someone want to sell you a tool, and you are not sure if that tool is for you, of course he would propose you that he will teach you how to use that tool. So in your psycho you think, that if someone will teach you how to use it then you have more chances to be succesful using it, so you desire to buy it.

    I'm not saying it's bad tool or good tool. But that it's just tool.

    You can think about it like that - long time ago japanese candelsticks were something new. There were some super programs, that recognized the patterns, there was a lot of courses. $$$ in the air. There was also a time of black box technical systems (and for some ppl it still is that time), same story. Tape reading - some super tools to read tape better then others, same story. DOM reading, same story,market profile, same story, few last years it's "orderflow" (and "" because, there is orderflow nad "orderflow"). I'm sure that in some time from now it will be some quantitative solution, they will tell everyone that everyone can make money trading using some Python scripts. And each of those "new" concepts after some time is free to everyone in almost all platforms. Why ? because it doeasn't metter. There is nothing that will give you an edge (as a retailer) over other reatilers. It's good to have good platform, good source of news etc. but it's not critical. Ok, 10+ years ago, when the technology was just developing, in example having TT for scalpers and short time traders, was an edge over others (but it was not cheap, so not for typical retailers). But now, I cant see anything like that. It's just the way you get the information. And how to process it - that's the job.
     
    #21     Mar 19, 2020
  2. robbo

    robbo

    No worries Tommo
     
    #22     Mar 19, 2020
  3. robbo

    robbo

    That what I meant, Footprint charts look great but how many traders after learning about them and spending hours and hours of screen time watching them actually keep using them in a profitable way. Or are they just a good sell for the vendors.
     
    #23     Mar 19, 2020
    MichalTr likes this.
  4. robbo

    robbo

    NOFT $6,700.00 nows thats EDGE!
     
    #24     Mar 19, 2020
  5. MichalTr

    MichalTr

    In fact, my post was to Tommo :D
     
    #25     Mar 19, 2020
  6. MichalTr

    MichalTr

    With that price. Definitely an edge. No doubts.
     
    #26     Mar 19, 2020
  7. qlai

    qlai

    I have recently met a guy at NYC Trading Expo who is running a trading group using NOFT trading /ES. He has lots of educational materials on how to use it. If anyone is interested please PM me. I am not part of the group, have not attended trading sessions, nor endorsing this in any way.

    P.S. Moderators, if this is not appropriate, feel free to remove this post.
     
    #27     Mar 20, 2020