PowerX Strategy "PowerZ"

[kiwiarian]

This is a 6-minute line chart, a rate of 10 snapshots of the market per hour. . .
now imagine taking 60 snapshots per hour and ask yourself if it was worth the effort;

when you are talking about chart periods, all that you are really talking about is how fast the camera is taking pictures.

As you can see, Fools day was not kind to crypto the Jasmy is holding up well though, so there's that.
ADA_M6_LINECHART_asBAR.png

Yeah I was wondering about that on the 1 min, I know you posted using the 30 min a while ago which seems more manageable.
Even the 6 minute one is a bit of work, but acheivable.

[IgazI]

Yeah I was wondering about that on the 1 min, I know you posted using the 30 min a while ago which seems more manageable.
Even the 6 minute one is a bit of work, but acheivable.

If you do double the work then hopefully you are getting at least 50% more profit

Both the M15 and M30 are great for not spending a lot of time in front of charts: if you use 15 minute closes and only update the chart every 30 minutes then that is roughly the same amount of work. . .it's the difference between marking a dot and extending a dot to form a line.

M30

M30_LINE.png (55.72 KiB) Viewed 670 times

M15

ADA_LINE_2.png (67.34 KiB) Viewed 670 times

[IgazI]

Was the 6-minute line chart worth the effort? probably not. . .
you can see a clear 'something' forming around 38 and two strong moves out of that 'something' prior to 16:00 and 20:00 and after Apr 3.

Updating a chart every 12 minutes, 5 times per hour, is my absolute maximum; if it's not important enough to do it by hand then nothing changes when you have the computer do it for you.

ADAUSD_M6_LINECHART.png (56.66 KiB) Viewed 490 times

ADAUSD_M10_LINECHART.png (77.76 KiB) Viewed 477 times

ADAUSD_M15_LINECHART.png (68.81 KiB) Viewed 482 times

ADAUSD_M30_LINECHART.png (59.53 KiB) Viewed 480 times

[IgazI]

UP and DN are trends (eg above/below a larger price range).

IN is a room.

OT is an exit door.

If you're worried about where EXACTLY to draw a line then you're worried about the wrong things.

PS: if you're trading crypto for cash then do so with a contract: the cost to move crypto on an exchange is astronomical.

ADA_M10_LINECHART.png (65.76 KiB) Viewed 455 times

[IgazI]

. . .

smh.png (59.91 KiB) Viewed 427 times

[prochargedmopar]

Watched John Wick 4.
Man, those kills using Dragon's Breath... I swear I was instantly reminded of you, Pro

4WJ Dragon's Breath.jpg

I don't think I've seen a single John Wick movie. . .
I might check it out later today.

Me either.
Suppose to be good stuff.

[prochargedmopar]

This is a 6-minute line chart, a rate of 10 snapshots of the market per hour. . .
now imagine taking 60 snapshots per hour and ask yourself if it was worth the effort;

when you are talking about chart periods, all that you are really talking about is how fast the camera is taking pictures.

As you can see, Fools day was not kind to crypto the Jasmy is holding up well though, so there's that.
ADA_M6_LINECHART_asBAR.png

Relative:
Are you wanting to take a trade/profit every 5 min OR 50min, Maybe 5hrs?

6min ain't for everybody.

[IgazI]

Relative:
Are you wanting to take a trade/profit every 5 min OR 50min, Maybe 5hrs?

6min ain't for everybody.

I'm mostly just trying to follow along with Don

I would just use something like H4 bars as the large chart and M10 closes for the small chart; the idea here is to not stray too far from H1 when selecting the smaller and larger chart.

The objective is simple, hitch a ride on the large chart using your smaller chart. . .
traditionally, we would use D2 and M30.

where_are_we_240.png (41.13 KiB) Viewed 379 times

[prochargedmopar]

Relative:
Are you wanting to take a trade/profit every 5 min OR 50min, Maybe 5hrs?

6min ain't for everybody.

I'm mostly just trying to follow along with Don

I would just use something like H4 bars as the large chart and M10 closes for the small chart; the idea here is to not stray too far from H1 when selecting the smaller and larger chart.

The objective is simple, hitch a ride on the large chart using your smaller chart. . .
traditionally, we would use D2 and M30.

where_are_we_240.png

I think you meant to say h3 and m2, OR,
30m and 30sec.
Best yet? m15 and 15sec.......

[IgazI]

I think you meant to say h3 and m2, OR,
30m and 30sec.
Best yet? m15 and 15sec.......

Nope. It depends on what we are talking about. . .

M30 is the largest chart that it makes sense to use closing prices as the intraday price action is not represented well beyond that point; M30 is only used with daily+ charts, as it gives you enough information to see what's going on while still having the time to manage multiple charts.

I would not choose M30 to day trade; it would be better to use an M15, 10, or 5 minute chart.

If you choose a 1 second chart then the 'time' portion loses all meaning, likewise M1 is more time and sales than anything else; a time-based chart is people, and people need time to think.

"Large" has always started from H4, at least since I've been around; H1 is the tent peg for your small charts, so you want to use something larger than that.