If you want to fail as a trader, study TA

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Quote from The Expert:

Have you ever seen the Mr Bean movie, where Mr Bean is mistaken for a very prominent Art Expert, and, he travels to the US to unveil the famous painting Whistlers Mother:D


690px-WhistlersMother.jpeg


Can you see the difference:D

TE
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That's a great piece of art, very aesthetically pleasing, probably got something to do with the golden ratio...:D
 
Quote from The Expert:

Have you ever seen the Mr Bean movie, where Mr Bean is mistaken for a very prominent Art Expert, and, he travels to the US to unveil the famous painting Whistlers Mother:D

mom.jpg




690px-WhistlersMother.jpeg


Can you see the difference:D

TE
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Yeah.........they look slightly different. Here's the same data as your chart just different bars.



Uploaded with ImageShack.us
 
I don't know why you two are banging on about charts, a chart is just a graphic depiction of numerical data, a visual aid to analysis.

How you set them up is down to your personal preference but the numbers are the same.
 
Quote from Fibbin-Archie:

I don't know why you two are banging on about charts, a chart is just a graphic depiction of numerical data, a visual aid to analysis.

How you set them up is down to your personal preference but the numbers are the same.
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Because my brain doesn't seem to like them. Just last night I was looking at the NASDAQ and never even noticed until yesterday how wide the daily ranges became before the fall.

I'm constantly zooming in & out on charts and I'll miss a move and look back later and say oh look that was obvious support on the 15 minute chart, but I didn't notice it on my 1 minute chart.

I'd like to have a computer programmed to talk to me.
"Resistance approaching - 60 min".
"Bars are really narrow dude".
"Volume is extremely low"
"just hit the last weeks high; careful of reversal"
Any programmers here?
 
Quote from Fibbin-Archie:

Too tired to get into Mandelbrot & fractals so I'll bid thee good night, (not that anyone seems to be paying me the blindest bit of notice anyhow):cool:
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I'm listening to you if it makes you feel better.
I'm just on a chart-hating rant !!! :)
Maybe I'll learn to love them someday.

Mandelbrot & fractals sounds not so good. No more info can fit in my head. Going crazy !!!
 
Well to be fair Mac you'd stand a better chance of spotting Ex-Con (expansion, contraction) volatility range on a squashed chart than on a spread sheet.

Like I said it's down to preference, personally I don't look at anything smaller than 5 mins, too much noise on the ones & twos IMO.

Mandelbrot Set & Fractals:
<object width="480" height="385"><param name="movie" value="http://www.youtube.com/v/gEw8xpb1aRA&hl=en_US&fs=1&rel=0"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/gEw8xpb1aRA&hl=en_US&fs=1&rel=0" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="480" height="385"></embed></object>


Night night.
 
Quote from macattack:


I'd like to have a computer programmed to talk to me.
"Resistance approaching - 60 min".
"Bars are really narrow dude".
"Volume is extremely low"
"just hit the last weeks high; careful of reversal"
Any programmers here?
More...

If you are using TradeStation, their EasyLanguage is a relatively easy lingo to code in, so you should be able to make some helpers for when you nod-off in front of the screen.

All charting packages have some stuff you can use these days, though frankly the line-drawing tools are many times good enough.
 

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Quote from Fibbin-Archie:

Well to be fair Mac you'd stand a better chance of spotting Ex-Con (expansion, contraction) volatility range on a squashed chart than on a spread sheet.

Like I said it's down to preference, personally I don't look at anything smaller than 5 mins, too much noise on the ones & twos IMO.

Night.
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That's another thing. What should I be using for daytrading stocks? 1 minute, 5 minute, volume chart?

On that 5 minute chart I posted I can see the nice short opp when it retraced up to a resistance level in the middle of the day. I can see the higher lows which occurred before the move up at the end of the day.

On the 1 minute chart I see a big mess, but I get the impression that good daytraders use a 1 minute chart or similar for the extra detail. I really don't know though.

TE.............you have all the experience.........what's a good chart for daytrading stocks?
 
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