I think it's pretty obvious that the answer is yes. the market is more complex structure and does't sum in a decision that based on one chart (or dimension),if so it was an 'easy' occupation. but if you look for the most convenient chart to look at, in the sense that in one chart you get the most data on the market, I recommend on Bookmap heat map chart.
Anyone use anything else than time based charts for day trading?
- Thread starter Howard
- Start date
If you had 50 - 5 gallon buckets in front of you and they all contained the same item, little metal balls each weighing 1 pound, but you couldn't look into the buckets to tell how many of those little metal balls were in each bucket, would you say that all of the buckets were equal in the outcome they would produce if you tried to move them. Traders, that trade from charts, make the same determination each and every day when they try to evaluate their what information their charts are trying to relay to them if they don't analyze the their construction correctly and can't assess the volume contained in each bar, candle or other chart symbol.
%% I think market profile is real importanT if someone ran a fund +had to exit huge without huge slippage perhaps.
But its like the fund manger in the WSJ, that noted he sold his longs in JAN since most bottoms are ''w'' not ''v'' . Good for him being 1 or 2 month or12 months early-must get paid on gross
BUT i cant say Market Profile ever made the difference in profit + loss; same for PSAR, but i just like parabolic stop + reVerse LOL. If one could ignore volume 95% of the time for most; no sense in study volume same as price. Market Profile makes nice lines but i prefer thinner grids also
