trading the momentum cycle

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_eug_ said:
I am following your journal and this bar by bar analysis seems so fruitless and tedious. Kudos to you for sticking with it. I hope you can prove that it works for you.
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i am enjoying it and learning a lot
i have been trying to do this for ten years and you have to be very precise
also i am doing this to pass time till the big move comes...
 
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What is so significant about the 5 min chart ? what if you used 6 minutes, or 4 minutes? This is why bar by bar always makes me confused as to how it can have any significance ... the close and open on the candles would be totally different but the market is still doing the same thing and is going where its going..... so its kind of irrelevant what one candle does compared to the last one in my market understanding.
 
_eug_ said:
What is so significant about the 5 min chart ? what if you used 6 minutes, or 4 minutes? This is why bar by bar always makes me confused as to how it can have any significance ... the close and open on the candles would be totally different but the market is still doing the same thing and is going where its going..... so its kind of irrelevant what one candle does compared to the last one in my market understanding.
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you are absolutely right...i could have used 7, 8, 8.5, 56.8,2006.65, instead of 5 min or anything you like.
Seykota said" if you cant measure it you cannot manage it"

so all this does is it give you some basis for measurement.
if you used any other time other than 5 min your startegy would still remain the same.
you may not understand bar by bar but if you use daily IT IS STILL BAR BY BAR so everyone is doing bAR BY BAR

you may check the market every week, but it's BAR BY BAR on the weekly.
 
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