Correct. But many people never stop to consider that the input of time based charts actually are OHLC data The chart is simply the output. I wonder if the straight line traders knew that before this post. When you start analyzing data in that manner, it does open up a lot more possibilities and you can view and sort price data in a new manner that you simply can NOT do if you use ONLY charts. I dare say it's more precise and objective as well. Still, as a chartist, I still find great value in charts, so personally I'm certainly not dismissing them.
the difference is my posts are real. yes, there is ego in there certainly; but remember i did not create p/l thread.. what i am trying to do is keep some reality here at ET. her remarks are head spinning...these guys (DB, nodogi) clearly are trying to protect some kind of cult following for less than honest reasons...imo.
Oh snap! Nice dig... Seriously though, you can't see your ego involved here? "I can annotate an ES chart with the best of them", my automated approach to the market is "a level above" SLA. The reality is your approach hasn't produced any results. I'm not saying it can't or it won't if you keep at it but currently your approach produces no edge. Since all of that knowledge you have of the markets hasn't resulted in steady wins, maybe you should re-examine that knowledge set rather than look for things completely outside of your control to lash out at? You chose to trust someone at face value and got burned. I get why you are scared to take anything else at face value. All of this energy to attack/defend approaches that you admit you have no interest in - its just not constructive. You have something you've worked hard on to develop and you see it as promising, right? If you believe this you should roll up your sleeves and finish what you started. Nobody is going to make money for you. If DBP admits in the next post that he has never made a dime in the markets or even traded, besides feeling like the king of the world for half a day, how would it help you make money? Somehow - something about you leads me to believe that you actually want to succeed at this. If I'm wrong just ignore me. If I'm right just ignore me and get to work.
I don't know what you mean here? The input of a time based chart is tick data, like any chart. It slices up the stream of tick data by the time increment. Am I wrong?
Yeah, you're wrong. Two fools discussing "inputs" on the chart. The chart cannot be deconstructed into tick data unless it's a tick-chart.
No, you're not wrong. All data is derived from completed trades, printed as ticks. A tick is the agreed-upon price, or, if one prefers, the "close".
1. I'm just pointing out that my hindsight analysis of price action is top notch. It's up there among the best. I can annotate a chart if you don't believe me. Like Volente says, "Don't confuse ego with confidence" Or was it the other way around? Anyway, I don't subscribe to the no ego school and I have never pretended I don't have an ego, so don't give me the ego lecture. I used to be a monk in fact, but decided it was more fun to nail hot chicks and get drunk. 2. I never said my approach was fully automated. Potentially, it can be, but it's not. And yes, since I'm a master painter and can draw trend lines like the best, I'm sincere in saying that I think this approach is a level above painting lines. If you saw my last post, it simply opens up a completely new dimension of looking at price that charts alone simply can't offer you. 3. My approach has made a lot of money, but I lost more. I don't doubt that dbphoenix makes money, but does he make more than he loses? Frankly, I don't care any longer. I've never been a follower of dbphoenix, it simply started with me being curious if he could actually make a call in advance and not just annotate a chart after the fact. If he makes money or not doesn't change anything for me, but would it change anything for you if you learned that the one you're following never earned any coin with the method he's teaching you? 4. I don't see myself lashing at anyone here, but yes, I do ask questions that may be perceived as difficult or critical. That should be allowed on a discussion forum, especially when claims that can't be backed are made. You mentioned that my method has not produced any results. That's true and I'm hundred percent honest about that. Best wishes, Mr Green.
Wrong. You cannot deconstruct a bar chart into its constituent tick-data. It's derived, but not expressed (as tick data).
I don't use tick charts or other type of charts based on activity or volume. I'm referring to time based charts, where for example a one minute bar is made up of the open, high, low and close price in the period. The bar is printed regardless of if there was only one contract traded or a million during that minute. Thought this was common knowledge.