Yes. There is a time to trade and also there are other times to avoid trading (NY lunch hour being one of them imo). Or trade lighter in certain times and trade heavier at other times (you can see that from volume). This all applies to longer term daily, weekly etc too.
I have bought Al Brooks' Trading Course
- Thread starter Visaria
- Start date
Yes. There is a time to trade and also there are other times to avoid trading (NY lunch hour being one of them imo). Or trade lighter in certain times and trade heavier at other times (you can see that from volume). This all applies to longer term daily, weekly etc too.
Al Brooks says that price bars are fractal across different time frames e.g. they are the same whether they be 5 second, 1 min , 1 hour, daily, weekly, monthly, yearly. I don't think i agree with this.
At the smaller intraday times frames, the 5 sec, 1 minute etc, much of the price movement is being caused by machines e.g. algos and hft and also dumb retail money. Whereas on bigger time frames e.g. daily, weekly, monthly, price reflects non machine money e.g. smart money, institutional trading, hedge fund trading. Therefore why should the price patterns be the same? Thoughts?
At the smaller intraday times frames, the 5 sec, 1 minute etc, much of the price movement is being caused by machines e.g. algos and hft and also dumb retail money. Whereas on bigger time frames e.g. daily, weekly, monthly, price reflects non machine money e.g. smart money, institutional trading, hedge fund trading. Therefore why should the price patterns be the same? Thoughts?
1 min can be too noisy...try 2 min, or 90 sec if there is such an option?
I know this is a common assumption, but is it really true?
I'll admit that I have never studied it in detail, but I recall extremely liquid days in the ES where the market didn't really go anywhere. I've also experienced 'lighter' days with a lot of movement.
Let's consider the Flash Crash. Wouldn't it be correct to say that a lack of volume was what caused price to drop so fast?
IMO/IME, what moves price is an imbalance between buyers and sellers.
Thoughts?
I do like volume charts though.
@Visaria
hi my cyber trading friend, i do not wish to put you on the spot, nor to appear to
single you out but would you mind just to back up what you stated above in ref to mondays and fridays, volumes and all....
just to save your time, just go back just one year and pull out mondays and fridays volumes, and whatever else you care to surmise from those 20+ trading days per month data, K?;
we would tend to believe you more concretly and trade-wise too, that you are truly
speaking from some knowledge backed observation and not just wanna say what i
wanna say.... with all due respect, vasaria? plse by all means do not get uptight nor upset over my request, otherwise i would apologize here first, alright?
ANY DAY IS GOING TO BE A GOOD TRADING DAY FOR THOSE TRADERS WHO
SUCCINCTLY, SPECIFICALLY AND PURPOSEDLY execute EACH AND EVERY
TRADE ACCORDING TO THEIR TRADING PLANS....
if and when a trader trades according to his/her trading strategies, it really does
not matter much at all, if that particular trade is going his/her direction or not....!
if it falters, so be it. get out at whatever comfortable stop you preplanned to get out
at.... there is no; if or but or whether.... attributable to any subjective judgment while you are in a live trade: if you wanna be a consistently profitable trader, that is.
if i were to say, there were no pain.... i would be dishonest. but the point is, whatever pain it inflicted, it was just momentarily at most; for we move on to the next setups, which might be seconds, minutes, hours apart.
on the contrary, if the trade goes your way, congrats....
ride it to whatever level, your preplanned trading strategies allow you
to extend your profit to run to....
thx much everyone for your indulgence and your time. enjoy.
-----------------------------------------
the aforementioned is not intended to be, nor can it be construed to mean,
TRADING ADVICES, in any shape or form. traders must consult their own brokers
for whatever trades they wish to make. any verbiage or graphics presented herein
are for fun and pleasurable viewing, that is it and that is all, it is intended to be (1999-01-01).
Visaria
I think you're confusing a few things (small wonder since brook's writing style sucks - not the subject matter mind you - just the way in which he writes about it)
Soooo., in my simple minded-ness - allow me to break it down
Data point one: Price bars are fractal - in that buying / selling repeats its self - ad infinitum - save for session breaks / trading halts
Data point two; No matter what TF (time period) one breaks PA into - it all the very same exact data
The only thing that changes..., is our - frame of reference / vantage point / view of the landscape
You should cause it a fact - when the price of XYZ hit $34.98..., on Jun 12th @ 13:32 and 28 seconds - it did so no matter what TF (time sample) you view it in/ from
And it will forever remains so - no matter the TF (time sample) you view it from 100 years from now
======================================
Price movement.., or lack thereof - is caused by buying / selling / non participation
Holding times are what varies amongst the various participants
No matter the TF (time sample) - price is price is price - PA is PA is PA - whoever is buying / selling is whoever is buying / selling is whoever is buying / selling
PA is all the same: how it looks (the "price pattern") is of course going to change depending on how one slices / dices PA into various TFs (time samples)
hth Sir
RN
I think you're confusing a few things (small wonder since brook's writing style sucks - not the subject matter mind you - just the way in which he writes about it)
Soooo., in my simple minded-ness - allow me to break it down
Data point one: Price bars are fractal - in that buying / selling repeats its self - ad infinitum - save for session breaks / trading halts
Data point two; No matter what TF (time period) one breaks PA into - it all the very same exact data
The only thing that changes..., is our - frame of reference / vantage point / view of the landscape
You should cause it a fact - when the price of XYZ hit $34.98..., on Jun 12th @ 13:32 and 28 seconds - it did so no matter what TF (time sample) you view it in/ from
And it will forever remains so - no matter the TF (time sample) you view it from 100 years from now
======================================
Price movement.., or lack thereof - is caused by buying / selling / non participation
Holding times are what varies amongst the various participants
No matter the TF (time sample) - price is price is price - PA is PA is PA - whoever is buying / selling is whoever is buying / selling is whoever is buying / selling
PA is all the same: how it looks (the "price pattern") is of course going to change depending on how one slices / dices PA into various TFs (time samples)
hth Sir
RN
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I had thought when looking over your posts that you are not serious about trading and just liked to clown around as many non professionals with plenty of extra time do. They are either frustrated with their own lack of success or like to argue as a sport with apparently too much idle time on their hands.
After reading your comment about PA, I have to really question how serious you are about trading. There are other hobbies in life that will contribute more to society than being a clown when others are trying to learn.
Good points. Keep studying the charts, don't think, and follow anonymous internet posters.
Why not quantify this supposed edge of PA and prove me wrong rather than ad hominem attacks?
Likely because you can't.
surf