Why do people use Volume, Range and Tic charts?

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Hi Prof,

I have been playing with a momentum indicator and trying to get it to match up as close as possible to your ergonic, can you please post a screen shot of the NQ 343 and 2401 from this morning so I can see how close it is to mine.

Cheers :D
 
Nice Buy from 2217.5 this morning then consolidation. Next Buy was 2212.8 to challenge 2221.5 and ended with a match. Had to trade the 343 today because the 2401 was in major consolidation.
 
Quote from ProfLogic:

Nice Buy from 2217.5 this morning then consolidation. Next Buy was 2212.8 to challenge 2221.5 and ended with a match. Had to trade the 343 today because the 2401 was in major consolidation.
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perhaps a direct question will receive a direct answer, perhaps not:

what is 343 and 2401?

what is the reasoning behind these figures?

I have asked this question multiple times on this thread regarding why a certain volume is used to build a bar and why its superior to any other randomly chosen number---- no one seems to know.

thank you,

surf
 
Quote from marketsurfer:

perhaps a direct question will receive a direct answer, perhaps not:

what is 343 and 2401?

what is the reasoning behind these figures?

I have asked this question multiple times on this thread regarding why a certain volume is used to build a bar and why its superior to any other randomly chosen number---- no one seems to know.

thank you,

surf
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The answer you seek is in this thread...here's a headstart for you:

http://www.elitetrader.com/vb/showthread.php?s=&postid=1337929&highlight=2401#post1337929
 
Quote from marketsurfer:

perhaps a direct question will receive a direct answer, perhaps not:

what is 343 and 2401?

what is the reasoning behind these figures?

I have asked this question multiple times on this thread regarding why a certain volume is used to build a bar and why its superior to any other randomly chosen number---- no one seems to know.

thank you,

surf
More...

343 & 2401 are the number of contracts traded per bar.

They are multiples of 7 which is prime.

Before I answer your "bar superiority" question let me set up the answer by asking, "do you understand why some people like 10 minute charts and others like 30 minute charts?
 
Quote from ProfLogic:

343 & 2401 are the number of contracts traded per bar.

They are multiples of 7 which is prime.

Before I answer your "bar superiority" question let me set up the answer by asking, "do you understand why some people like 10 minute charts and others like 30 minute charts?
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Don't mind Surf, Prof.

We all "get it", he does too, he just likes playing the devil's advocate to anyone presenting a rationale methodology for taking money out of the market every day.

He's just feeling his manhood over the fact that he's sitting on a WINNER, but remember, even a broken clock is right twice every 24 hours ... but it's real sweet being right every hour on the hour, now aint' it.

Good trading,

JJ
 
Quote from JimmyJam:

Don't mind Surf, Prof.

We all "get it", he does too, he just likes playing the devil's advocate to anyone presenting a rationale methodology for taking money out of the market every day.

He's just feeling his manhood over the fact that he's sitting on a WINNER, but remember, even a broken clock is right twice every 24 hours ... but it's real sweet being right every hour on the hour, now aint' it.

Good trading,

JJ
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I know. I agree and that is why I need reminded as that. Thanks.
 
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