Day Trading - Time Based Charts VS Price Driven Charts
- Thread starter Laissez Faire
- Start date
You're making the big bucks trading with this stuff.Quote from Laissez Faire:
You need to bring more to the table than that, speres.
.. so on which are you making the bigger bucks??
I have spent decades trying to "make" other type of charts to be better than time based charts to no avail. Although in my youth, did much with Point and Figure and did well, but time charts are best for me cause I know when the end of the bar is. And when you spend a lifetime watching all the patterns they present, just too tired of changing.
If it not broke, why fix it?
If it not broke, why fix it?
I use the daily charts for the next 5 days/135' bars/81' bars/27' bars/etc min bars that haven't printed yet. MM does the same.
I will continue using the 1-minute as my main chart, but I`m interested in doing a little more research on the 1000-volume chart and possibly the 1-point range chart for ES.
I remain skeptical, but it seems that there may be some added value from this chart, so it`s worth considering.
In my opinion, most of the charts essentially show the same patterns.
The main difference is that the minute charts are consistently the same size every day and that consistency may be an advantage. Price driven charts may smooth price action and remove "noise", but for some, this "noise" may contain valuable clues.
Price driven charts shine during very volatile periods when the minute bars get large.
Interesting to hear that the professionals here are not very fond of price driven charts either.
Thanks for the input.
I remain skeptical, but it seems that there may be some added value from this chart, so it`s worth considering.
In my opinion, most of the charts essentially show the same patterns.
The main difference is that the minute charts are consistently the same size every day and that consistency may be an advantage. Price driven charts may smooth price action and remove "noise", but for some, this "noise" may contain valuable clues.
Price driven charts shine during very volatile periods when the minute bars get large.
Interesting to hear that the professionals here are not very fond of price driven charts either.
Thanks for the input.
MM, as in Milo Minderbinder?
"But I make a profit of three and a quarter cents an egg by selling them for four and a quarter cents an egg to the people in Malta I buy them from for seven cents an egg. Of course, I don't make the profit. The syndicate makes the profit. And everybody has a share."