%%\ GOOD home run hitter; daniel c1 I LOVE to shoot targets long range.................................................... BUT some closer range stuff, higher hit rate. 'cause i enjoy target shooting. ONE dealer loves to shootsuper long range \ 1,000 yards + has trophys on those...........................................................................................................
thank u, that's a really good way of putting it what are the benefits of using bar charts instead of candlesticks? i've always used candlesticks by default
I find it easy to miss things on candles because only the middle of the bar is highlighted. In reality the middle of the bar has nothing to tell you. It's the top and bottom that's important. I was trading when they first appeared. I seem to remember they were promoted as the method Japanese rice traders had used for hundreds of years. It had all the elements of a good marketing plan: From a mysterious foreign culture; if they used it for many years it must work; the Japanese are smart people; we can make it look bright and sparkly. Sales departments high fiving all around.
yes, i also found that the smallest things can make a difference i use a white background for charting, maybe that's why candlesticks seem to show up easier onscreen for me than the bars. previously played a lot of video games as a kid, so i avoid the black backdrops to keep myself from a subconscious tendency perhaps to act too cavalier when the backdrop reminds me of a video game Steve Nison's candlesticks was one of the first books i read when getting in, the 80s seemed like a fun time, with all the new stuff and gizmos being introduced what are your thoughts on algo trading's effect on ES over the years? keen to hear your perspective on how you stayed in the game for so long
I haven't seen any effect from algo trading. I will say that trading is much easier now. The main reason being the closing of the pits. Trading with only a quote screen a phone (rotary dial) and hand drawn charts was not easy. I've stayed in the game because it's so much fun. Also I follow the trend, keep loses low and contrary to most advice I do not let profits run I always have a target. I think a lot of new traders would benefit from taking as much off their screen as possible. Only have on your screen things that you can't do without and have rock solid evidence, based not on back testing but rigorous statistical analysis that they work. I don't know of any.
Though I know how to read them, I don’t find bar charts very helpful. I mostly prefer candlestick charts.
Candlestick charts are better than bar charts as they are more precise with the information. Keep using them.