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I don't use raw volume either, @Scataphagos. That is, volume under my time based bars. And to adress your original concerns: my system is built on time bars and most of my charts are time based. The volume chart is just my finest degree/resolution and can also help to 'tune in' with what's...

Most stupid and ignorant post I've read here in a while.

Me neither. But, 5 ticks might not always represent 5 trades, to make a simple example. So, they might not be consistent in what they're showing from day to day or bar to bar. A volume bar will always represent what it's supposed to represent. But not sure if it really matters...

They sure look interesting, cornerstone. May I ask if it has increased your profitability yet or are you just experimenting with them? I might want to trial them some day soon myself. :)

I also like volume based based charts for the reasons you've mentioned. Any thoughts on tick charts vs equivolume? I'm not sure it matters, but I've seen some people express skepticism towards tick charts due to the way ticks/trades are aggregated in futures trading. I use a 500 volume chart...

Hi, everyone, Anyone use anything other than time based charts for trading? Renko? Range? Volume? Tick? I'm supplementing my time based charts with faster volume charts and find them to offer some additional insights. That is, I can read what's happening inside a 1-minute bar and the pace of...

Do you use a daily target profit? Ideally, I think one simply trades the entire session on maximum leverage taking every good signal, but if one is not yet a master trader I think a daily target profit isn't a bad idea. Or at least scaling down dramatically after a certain amount of profits is...

Good comments. Thanks. What is your account size then? Would it be more appropriate to have daily max loss per contract? Unless the goal is to continue decreasing risk as the account grows? I consider this stuff on a per contract basis instead, but not sure if that's the right or wrong way...

My maximum daily drawdown is three full stops in a row which equals 9 points/contract. At that point I'm done for the day. It's rare that this happens.

I risk slightly more than 2 %. I want to reduce this number eventually. I stop trading for the day if I take 3 full stops in a row. This would be 9 points per ES contract. My maximum drawdown per day is the same. This rarely happens. I can also add that on the event that I'm wrong on a trade...

Hi all, What kind of rules do you utilize for your day trading operations? How much do you risk per each trade? Do you have a maximum daily drawdown rule? A maximum number of losses in a row? Also of interest - do you stop trading if you're up a certain amount for the day? Thanks in advance.

*.csv. But I only use 1-minute data.

Buy signal triggered for a move up to 85-86. Reverse and long at 78,50. EDIT: And that's why I need a stop. Stopped for a small loss. Turns out this down move had some potential after all.

Down move still in effect. Trailing a stop closely (horizontal line) to capture what I can. Closely because I'm expecting a reversal anyway. Will exit on a buy signal. Once again observe the redrawing of the trend line. This is why I don't like TLs. They have a subjective nature to them. But if...

Can't take more than what the market offers. Since I think (but obviously don't know) this down move will be of a small size, am prepared to take profits here and will follow price closely now. EDIT: And stopped for a small profit (2,0 points).

Personally, and I can't share everything about this, I think we'll make new highs later today, so my expectations of this sell is small. But the slow signal have yielded 2 points already, so I take that also.

I agree that signal support is better and even necessary. But my specific question now (and one I think isn't very much adressed in trading books since they annotate after the fact) is how one deals with re-drawing trendline if an intial trendline break turns out to be a deeper retracement...

Trend lines seem to work very well for generating signals, BUT, there are problems that needs to be adressed in order to create rules for consistency. The most pressing matter is that of when a trend line is broken and when it's redrawn. See picture below. Not the best example, but on this...

Very interesting. Mind me asking what's your medium/long-term outlook for the US stock market? :)

Very interesting. I also utilize a quantitative model in a similar fashion, but it's usually too rough to give precise buy/sell signals. Hence why I utilize charts as supplementary analysis. Is this day trading? Do you utilize charts also? Thanks.