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Open Letter to Worden Brothers
- Thread starter crazyAtrader
- Start date
Quote from stock777:
only a clown thinks that microscopic precision is even worth pursuing.
we have many here.
Absolutely right.
What are the charts displaying anyway? Its the mid price for FreeStockCharts and TC2000, but why not display the offer or the bid, it would make a difference in the way that 'precise' lines would be drawn.
If the underlying prices of a 5 min chart were resampled and displayed as 5 min bars but with the sampling (not the price data) shifted say a couple of minutes then the chart would look slightely different - but the underlying information would be the same. Its what is seen in the brain that matters, not whether lines are drawn precisely or not.
Quote from crazyAtrader:
Until your software freestockcharts and the paid version tc2000 includes snap on lines all technical analysis based on lines is inefficient and inaccurate in your software due to involuntary errors that could easily be corrected via line snapping to highs and lows pivots.
I agree that the lack of a snap to price is inefficient but, I disagree with you asserting that it's also inaccurate.
What appears to be a valid trend line on an arithmetic daily chart is often the exact opposite when you change to a logarithmic weekly chart.
Warts aside, I've yet to find a charting program that lets you cycle through charts as quickly as TC2K does.
Quote from stock777:
only a clown thinks that microscopic precision is even worth pursuing.
we have many here.
this is one of the worst comments i've read in awhile.
its hardly microscopic when you are talking about angles and degrees. a few degrees difference in a bar can be magnified largely on a chart in some future time.
Quote from jprad:
I agree that the lack of a snap to price is inefficient but, I disagree with you asserting that it's also inaccurate.
What appears to be a valid trend line on an arithmetic daily chart is often the exact opposite when you change to a logarithmic weekly chart.
Warts aside, I've yet to find a charting program that lets you cycle through charts as quickly as TC2K does.
if you are trading price and price alone and use these tools for precision, it does not matter if one type of time frame or chart setting is similar to another or duplicates the same lines. it matters if the specific chart setting you are on allows accuracy and precision for the tools you use to quantify and read price.
All vendors are always behind the times.
I certainly would not use any of the vendors recommended so far.
I certainly would not use any of the vendors recommended so far.
Quote from dealmaker:
jack hershey
Registered: Feb 2003
Posts: 5391
09-26-11 07:33 PM
All vendors are always behind the times.
I certainly would not use any of the vendors recommended so far.
Who do you use?
I'm sorry.
When you are in trading for 53 years, you don't use vendors. You use only clean data.
The people mentioned do not offer clean data.
AFAIK the Worden business has changed generations in management and the kids are unfamiliar with the financial industry's needs.
Quote from jmonday:
if you are trading price and price alone and use these tools for precision, it does not matter if one type of time frame or chart setting is similar to another or duplicates the same lines. it matters if the specific chart setting you are on allows accuracy and precision for the tools you use to quantify and read price.
"if you are trading price and price alone and use these tools"
Why the need for tool(s) if you're trading price alone?
"if the specific chart setting you are on allows accuracy and precision for the tools you use"
"Specific" is just another way of saying "curve fitting."
I'd continue, but you've made it pretty apparent that you don't appreciate the difference between lin-lin and semi-log graphs.
Quote from jprad:
"if you are trading price and price alone and use these tools"
Why the need for tool(s) if you're trading price alone?
"if the specific chart setting you are on allows accuracy and precision for the tools you use"
"Specific" is just another way of saying "curve fitting."
tools just mark highs and lows and certain levels of supply and demand. nothing that is a derivative of price.
specific, in this matter, is not another way of saying curve fitting.
g'day