Anyone use anything else than time based charts for day trading?

[Reactive Analytics]

Thanks

 

[murray t turtle]

Thanks

%% Sure.Have you read/ re read all of Jack Schwager Top Traders books, RA??

I do that time + time again; good time trade /invest .LOL

 

[Reactive Analytics]

As you could possibly tell by my nickname, I build automated reactionary algorithms. I stopped trading manually about 5 years ago. After over 20 years of being glued to the charts I now spend my time glued to improving on currently running algorithms. I'm shooting for June as a retirement goal so I will put that that book on my list. I really appreciate the response Murray.

 

[HolyGrailSeeker]

Posting this because "Howard" ragged on me for it....(can't reference his post as I put him on ignore)

I've traded a lonnnng time and have made $Millions. Let me suggest that anyone with such cred should at least have his views considered.

I have 3 disses on conventional wisdom. 1. TA doesn't work (it does), 2. Indicators don't work (they do) and 3. Volume considerations are essential. Not only "are they not essential", they are at best coincidental... and at worst, detrimental to your success if you try to use them.

I disagree with your view in saying volume is not important. You may have found a way to make money using just price action solely but I think looking at volume charts is a good factor to consider.

A green volume bar followed by another higher green volume bar would indicate buyer interest while a green vol bar with a lower green vol bar would indicate one to be cautious about the rising price.

Volume also indicates the liquidity of the stock and how fast you can get in an out.

 

[Scataphagos]

I disagree with your view in saying volume is not important.

I disagree with your disagreement with me... at its very best volume is still a lagging indicator (at its worst, leads you to make bad trading decisions)... but you're free to spin your wheels in any direction you choose.

(BTW... I mentioned handle.)

 

[HolyGrailSeeker]

I disagree with your disagreement with me... at its very best volume is still a lagging indicator (at its worst, leads you to make bad trading decisions)... but you're free to spin your wheels in any direction you choose.

(BTW... I mentioned handle.)

It isn't only me that feels volume is important. Most of the best traders in the world share the same sentiment.

But ultimately trading has many ways to it and can also be profitable if the underlying method is sound. Maybe yours is to actively watch DOM and look at the speed of buy/sells on the market to compensate for your lack of volume bar reading.

 

[Reactive Analytics]

Some people can appreciate and understand that there are many profitable ways to trade these markets, like yourself. Personally I like to investigate as many as I can. Lots of times I can find parts of one strategy that can be applied to another or maybe just an idea. People that think that THE best way to trade is the way they trade and aren't open to the possibility of anything else. No sense in trying to talk a wall into being a tree.

 

[Scataphagos]

Most of the best traders in the world share the same sentiment.

Fact or something you "feel"?

Just think how much better they would be if somebody paid me enough to "'splain" it to 'em!

Maybe yours is to actively watch DOM and look at the speed of buy/sells on the market to compensate for your lack of volume bar reading.

Nope. I used volume years ago but later stopped. It was like shaking a sharp pebble out of my shoe.

 

[Reactive Analytics]

Would you care to share in what form you used volume, "years ago".

 

[Reactive Analytics]

Fact or something you "feel"?
Just think how much better they would be if somebody paid me enough to "'splain" it to 'em!
Nope. I used volume years ago but later stopped. It was like shaking a sharp pebble out of my shoe.

Would you care to share in what form you used volume, "years ago".