I follow @volpri and scalp. It is hard to scalp and at the same time let profits run because it tends to run into a big loss, for scalper it is deadly.
Agree. Time is useful but there are better ways organize market data. Useful because a market is made of humans and as we’ve seen in the replies… they abide by the clock. There are seasonalities. An order is defined by its type (Buy/Sell), its price and its quantity. We don’t care when it took place, at least, it doesn’t have any bearing on the bottom line. Volatility is of utmost importance though but it’s only a derivative of time (speed). I seldom prefer range, points and figures, charts à la Jesse Livermore. Why start a new candle because of the clock ?! Especially since there are 24 primary time zones. It’s a completely arbitrary measure. People had to recalibrate their watch when they took the train in the past. They used the clock at the railway station as a standard. ps: I am still looking for percent based points and figures charts but a chart isn’t going to make or break a trader … So anyway.
thanks for the question. a chart is made up of two things: price and time. most market participants [MP] when they talk of a market crash think of price falling rapidly. However, a market crash, can also mean a market, not falling, but staying near the high for a long long time. this is time action a term i incidentally coined.
You didn't coin ANYTHING, you dumb cunt. You now think "time action" is some new construct you have discovered for swing trading. Holy cow, you are so ignominious!
I agree, stocks more difficult to trade cause so much of accounting is bs. I rather look for major bottoms, doomsday at news stand. Copper one of my favorite markets, now any deep replacements am adding to shorts/hedged. If economy tanks can become long term trade and keep shorting deep retracements.
Mark Douglas IS CORRECT. Important to have a win rate that conforms to your account size and your method of trading -- (Your Edge) You may PM me if you need more info.