Chart Reading - Timeframe

trdes said:
I never said I can't trade on a blank chart. This is where I am not understanding your point. You're separating or putting a "one vs the other argument" when that is not what I am doing.

I'd rather you make the statement that you don't believe indicators can help you see patterns. That's something I can factually come back at. I am not trying to be picky but I am writing paragraphs explaining my point and situation and the counter points I get back are:

From Kcalhoun is an argument based from authority saying he worked somewhere and also an argument saying "squiggly lines" mean nothing. That is not very helpful.

From you I am getting back "what if I lose my indicators" argument. Like what my computer crashes and I didn't back up my files? That doesn't seem like a very well intention or good argument either..


Again it isn't one vs the other. I am not sure why people always think an a "Democrat vs Republican" stance for example. I am saying indicators can add value to a blank chart that allow people to see things that they otherwise wouldn't be able to process. Does this mean for everyone? of course not. But you're the one saying "for everyone" and making a definitive statement and that's what I am not understanding.



EDIT: I see Ken just posted a statement clarifying his position and that he isn't making a blanket statement, so I don't particularly have any issue with that now. I'd still like to understand why you are making the blanket statement though.
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I completely agree with you, and never really understood the distinction between reading candles and reading indicators. It's all lagging! From the perspective of the trade you want to take, even T&S is lagging -- once the trade happened, it can't happen again.

And that's just fine. We have all of inferential statistics to teach us how to take past (i.e., lagging) data to predict future events.

And to say indicators don't work is questionable. RSI divergences, for example, work really well to show trend changes in certain futures. I still can't trade them, because there's a lot more to trading indicators than using them as static buy/sell signal ... but to say the indicator isn't predictive is just false.
 
tanv said:
Question is about reading chart -
While checking on various indicators (BB, Fibo, RSI, MACD and Volume), do I need to apply timeframe in reverse chronological order i.e. Starting from Month, Week, Day, 4 hours etc? I saw various posts but not sure about the order.
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mr tanv, from what timeframe would you trigger a trade in the case that you had answered the question op'd?
 
schizo said:
For me, even VIX and TRIN are worthless. They're no better than any other indicators. Only reason the VIX is up is because the prices are volatile. Hence, it too is a laggard. Everything will eventually be shown on the price.
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That is because the VIX is a projection ....... for the next 30 days and not just what is happening currently.
 
tanv said:
Question is about reading chart -
While checking on various indicators (BB, Fibo, RSI, MACD and Volume), do I need to apply timeframe in reverse chronological order i.e. Starting from Month, Week, Day, 4 hours etc? I saw various posts but not sure about the order.
More...

What indicators do you like to use? post a few charts, let us know what you find.

fwiw, a trader could be alerted to a situation on a longer timeframe chart, say a Daily, 240, etc, and then a trader could standby for action on a more granular timeframe like maybe a 5m or a 1 minute chart. there's an example of this below. the first link has longer timeframe charts, the second has granular 1 minute where a few quick entries from below the blue50ma green20ma could keep things interesting. If you like to trade a few timeframes above this, then it seems the same situation could apply there too, eg Qtr, Mo, Wk, Day, 240m. How do you determine stops? That mnq is turning out to be a nice vehicle for position sizing granularity, instead of that spaz nq.

https://www.elitetrader.com/et/thre...l-format-right-here-baby.343012/#post-5069098
https://www.elitetrader.com/et/thre...l-format-right-here-baby.343012/#post-5069167
 
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