Mr. Now, I thank you for your thoughtful question, whcih made me think myself. I find myself increasingly beset by short-term memory problems (I pray that it is the alcohol and not the Alzheimer's), so I need to chart on a time scale within which I can function reasonably well. I find that a scale of some 15 minutes or so works well. But I loathe the opacity of candlesticks, so rather than chart in one-minute I chart in one second and compress it. There are many benefits. For example, on a one minute chart I might see a double top. On a one second chart this may resolve itself into a triple top, much more significant.
First of all, lets be very clear. Not one single person in this thread has stated they use the typical stuff taught in popular books as you imply nor has one single person in this thread stated they use canned indicators as TraderZones implies. In addition, not one single person in this thread has stated they use TA or Japanese Candlesticks all by itself profitably with no other input. If someone has said such in this thread...please provide the quote and I'll post an apology along with telling that person their full of crap. In fact, several individuals has specifically stated not to use TA or Japanese Candlestick patterns all by itself including me. Weird via you continuing ignoring that statement by me and others in this thread and prior threads. That above reason alone (the blindness) is why I will continue questioning whatever you say especially when you continue debating with those that share the same opinion...the canned stuff don't work so stop pretending that's what we are debating about. In addition, if you do your research properly...you'll see that a few of us also use global macro trading and investing. Thus, maybe you just have a personal issue with someone here, which most likely is the case? Something else, why are you harping on Japanese rice traders from the 18th century via a method that's not used today by anyone I know. You do realize that Steven Nison canned stuff is different than the 18th century stuff. ??? Did you know that those wise Japanese rice traders from the 18th century actually had the commodity right in front of them. Much easier to get a fair value (worth) for something that's in front of you along with knowing how much the guy next to you can afford in comparison to today's electronic markets. Thus, please stop with the ridiculous apple to oranges comparisons and if you actually know someone that's using a 18th century method as is...I'll be shocked. Steven Nison learned his method from those that had other resources and inputs at their fingertips (government policies, arbitrage, economic events et cetera). He's just better at marketing something that others weren't really interested in marketing it. Last of all, I'm just absolutely amazed by your intelligence level via all the poor assumptions you consistently make via information I don't know a single profitable trader that uses such in reference to all the canned stuff via the way you describe or hint while not providing any proof of your own so called quantifiable edges derived from historical studies unless you're afraid TraderZones will steal it and try to sell it as his next system design. P.S. At least you stop requesting codes while not willing to cough up your own codes to your system. I guess we're making progress with you. As for all your agreements with TraderZones that's a person that's a non-sponsor trying to sell his methods here at ET...that's a guy that believes using charts, s/r levels and trendlines is useful but is NOT TA. You guys shooting up on crack or what because I'm obviously not the one confused here with all the hypocrisy and contradictions I've seen by you two. Masrk
Who could have predicted that my simple little post would stir up so much contention? The one thing we can be sure of, this being ET, is that if I had praised candlesticks we would have gotten the same posts, but transposed in order. I will devise more informative (opinionated?) entertainment for you another time.
could you delight us with InterBar Gaussian Shift next? Counting cards in Vegas is so much fun. Even more fun is listening for the cricket when they are going to change dealers on you.. Remember those days?? Did you see that thread where the guy is thinking about calling "chop" the times when the price is between S and R or going from S to R? Its too much .... LOL..... What do you think would happen if he found out which side of the premium smart money is on?? When they throw darts to get an entry; how do they know which way the entry was taken? I can't imagine not trading out of any entry and making money too.... Its like saying price only goes through a given price just once...LOL.... Being in all the time is different, I know that... When you stay in all the time, you are just staying on the correct side of the market which is to the left of the sentiment line. I almost said staying on the right side (geometrically) which never happens, anyway. Do you have candle sticks for volume yet? It is a candle stick turned inside out. You stay on the fat tail side...LOL.... a price profile for volume...
Oh, no thanks, Jack. I just need a dose of your complexity and arcanity periodically to appreciate the simplicity of what I do. I bitch about the near-stasis of your method, evolving with pre-global-warming glacial slowness, but I am an incurable complicator. I just finished my bi-monthly cleanout of all the useless brain farts I had and coded up. Now I am back to the bare simplicity of forty-some S/R levels. But I like your idea of a volume candle. A worthy internship project for the next Nwbprop.
I have tried many of them most are sub-break-even and too much risk you really do gotta figure this shit out for yourself
Forgive me as I am just making my way through this thread and my reply may be some what late. For starters I believe that the daily, weekly, monthly, & yearly charts are the only charts that matter. But let me ask you this... If you buy a stock and the yearly candle closes bullish, will it not complete the majority of its range in either the first or second half of the year? Going even further, will it not make the largest move of the year in the 1st, 2nd, or 3rd time period of the year? If a daily bar closes strong it will have likely completed the majority of its range in the first or second half of its range or in 1 of 3 parts of its range. Although I get and totally agree with what you are saying I am going to say that it is not completely accurate. As far as computers are concerned... I started off updating paper charts, but I think that that question is irrelevant as is the question about the chairs