Why Is The Obvious Not So Obvious?

[MrScalper]

It's certainly not self evident to me. I use candles. Could you explain this rationally?

The one advantage I can see with bar charts is that they take up less space such that you might fit more bars into your charts, but if you compress your charts that way you end up loosing detail.

So, I certainly don't understand this statement, but would happy to hear your thoughts on this.



Very interesting. Would like to hear more about this.

One can use whatever they want..as long as it works. The way I was shown is much easier with bars..in fact..it is very awkward using candles..so much so that it is not worth using..so..horses for courses..you use what is best for you.

It really does depend on the trader..what market he chooses..how much money he has..and whether he has any problem taking losses..if the trader has a problem with taking losses..then no matter what method is used..it will just not work.

Any trader who tells you he has no losses..well..in my opinion he is not a trader..in fact..the only way to know if a trader is any good..is to see his losing trades

 

[ironchef]

MrScalper,

After staring at charts all week using candles and bars, often as the price moved in real time, I am switching over to bar from now on.

Thank you and the others for your coaching.

Regards,

 

[Laissez Faire]

One can use whatever they want..as long as it works. The way I was shown is much easier with bars..in fact..it is very awkward using candles..so much so that it is not worth using..so..horses for courses..you use what is best for you.

It's probably due to habit and having always used candles, but bar charts are very awkward to me and I feel I'm not 'seeing' as much using them.

That's why I thought the 'self-evident' comment from Vindago was interesting. Because it's not to me at the moment.

 

[Vindago]

It's probably due to habit and having always used candles, but bar charts are very awkward to me and I feel I'm not 'seeing' as much using them.

That's why I thought the 'self-evident' comment from Vindago was interesting. Because it's not to me at the moment.

one way to put it: the majority of traders lose money, right? a good part of this majority base its trades on some form of TA, especially patterns, these patters sometime works sometimes don't. The bars, IMHO, shows these patterns more clearly than candles, if you can find a way to use the fact that TA may or may not work and you have a plan for both situations....

 

[Vindago]

the above is one of the reasons Bars works better form me, but there others that I feel unconfortable to share.

 

[Vindago]

One can use whatever they want..as long as it works. The way I was shown is much easier with bars..in fact..it is very awkward using candles..so much so that it is not worth using..so..horses for courses..you use what is best for you.

It really does depend on the trader..what market he chooses..how much money he has..and whether he has any problem taking losses..if the trader has a problem with taking losses..then no matter what method is used..it will just not work.

Any trader who tells you he has no losses..well..in my opinion he is not a trader..in fact..the only way to know if a trader is any good..is to see his losing trades

I have to agree with you as it has been proven on my skin on recent days. I needed a reminder, that I can make as much money as i want but if I am not ready to lose some money when it is needed (and that may be very subjective and dependent on the trading style) than, soon or later I will need to loose way more money than needed...

 

[dealmaker]

Why Is The Obvious Not So Obvious?

I have read thru some of the recent and distant posts in this section, and have come to the conclusion that; the obvious is not so obvious to many!

There appears to be a lot of textbook information being thrown around, especially in relation to position sizing and risk management.

What every trader has to realise, is that all the risk management and position sizing techniques in the world are of no use what so ever, unless the trader is aware of the obvious pre-requisite to trading any market.

It will be very interesting to see what answers the many traders come up with for the obvious, those with little and lots of experience alike!

Because market messages are nuanced and changes with market cycles.

 

[MrScalper]

We can argue all day and night about what to use and if TA works or not..but it really makes no difference to the individual..as each person must find out what works best for self!

Of course there are better ways..but there is nothing to say that the way you use can not be the best way for you..after all..the only thing that matters is the bottom line..and if you can do it..then what me or anyone else says does not matter one little bit!

However.. ..most will find it very hard to come up with a way that works well most of the time..as it is very hard to discover something that is constant in an ever changing environment. Major levels do offer low risk opportunities..as this is when extra activity happens..so..this is one thing that is constant "enough" to help a trader make money.

We all like trying to be right..and trying to predict what might happen next..hell..I still look at different things to see if I can discover something new..but to be honest..deep down I know it is a waste of time in relation to making money..but it is not a waste of time as you get older and need to keep your brain active to prevent the likes of Alzheimer's..and if something worthwhile is discovered..then so be it..it won't be the first time it has happened!

I actually have something I was working on..will post the last file saved and then update it and post the latest data..see if anything "obvious" turns up?

 

[MrScalper]

This is the file I last saved on 15-Apr-17. Will now update the data and see if any sense can be made out of it?

Update

SPX..the task is to see if anything on the yellow chart reveals any clues on the SPX chart in relation to possible future direction..not magnitude?

Does anyone know what the yellow chart might be..before I tell you of course

 

[_eug_]

It's probably some sort of market breadth indicator but I cannot figure out which.