I really don't know if it is comparable or not, since I didn't place my buy setups on my chart. I use the .5 chart to enter/exit a trade. I like to enter a break double, or triple top signal on the .5 and I figure where the break will come on the .75. I split the difference and enter the trade.
http://www.trade2win.com/boards/pri...upport-resistance-demand-supply-abridged.html And don't spend all your profits in one place. LC
Hey ProfLogic, were those actual trades you took today, or just trades that you would have taken looking back on the fact? Seems like they would have been quite profitable. I'm just trying to figure out why you entered where you did.
Now I'm all confused. Some traders use minute bars, others use volume bars. I feel that both sides have their perks, but I'd like to use whichever is more effective in learning Price Action.
People use different ways (time, volume, etc..) to look at price. They are all looking at price but with different view points. Just pick one way and learn it well. They all work.
... and there's the rub. You're going to have to use whatever speaks to you. For Prof Logic, there's nothing better than a volume candlestick. That and a cup of coffee just makes his day ... so what he actually needs to see is price and volume Whereas I realized a long time ago that I had to see price action without the element of Time (because it distorts pure price action), so for the longest time I would only use range bars. However, there are traders who like to see the price action within the context of a time bar, and I found that when I tried this, I liked the way it felt, so that's what I like to use now (something about the dual bars that takes all the thinking out of the equation). GL
A veteran pit trader gave me the same advice. (Have I followed it? NO. Am I profitable? NO.) (Maybe there is a connection there.)
If you're trading stocks this is the way to go. Someone mentioned P&F, if you familiarize yourself with Dorsey Wright and their P&F studies, you'll be ahead of the stock trading crowd by a mile.