WHY DO YOU USE INDICATORS THAT...

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TygerKrane
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Postby TygerKrane » Tue Nov 19, 2013 2:11 pm

Time cycles are fine if you understand that 1 +1 [DOES NOT]= 2 in candlestick charting.
They just give you a frame or reference to narrow the list of options you should consider taking next.
Different 'shifts' will be more accurate on different days versus another 'shift', but in the long run, uncertainty equals them out.

One trader's retracement is another trader's trend.

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Postby TygerKrane » Thu Nov 21, 2013 3:46 pm

TheRumpledOne wrote:I started this topic (and others) to get traders to SEE the fallacies that have been perpetuated.

So long as traders believe that the 5 minute chart is some how different than the 60 minute chart which is some how different than the daily chart which is... then they are stuck in the "tar pits".

I want traders to SEE and UNDERSTAND it is all the same data.

In the time from TIME A to TIME B, there will be a high and a low. And no matter how you slice up the time from TIME A to TIME B, the high and low will be the same. That is the point I am making.


MightyOne/PebbleTrader,
If you were in a 3month trading contest (that you were trying to win, 8) ),and you could only use one timeframe, which one would it be?

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PebbleTrader
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Postby PebbleTrader » Thu Nov 21, 2013 3:56 pm

A small chart...with the ability to zoom out a lot :)
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Postby MightyOne » Thu Nov 21, 2013 8:09 pm

If I were trying to win then I would not use just one chart!

A 2 minute chart with an indicator displaying the high/low & previous close of the 2 & 3 day chart would be acceptable.

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Re: WHY DO YOU USE INDICATORS THAT...

Postby dchappy » Fri Nov 22, 2013 8:47 pm

TheRumpledOne wrote:WHY DO YOU USE INDICATORS THAT CHANGE VALUES WHEN PERIOD CHANGES?

http://youtu.be/EA9zFPfqAhA



I think the better question is "Why would you use different periods that change the value of your indicator ?"

As a day -trader taking small bites out of the market , I am little

concerned with what happened last month, week , day or even

pre-market .

I see too many traders getting confused by looking at multiple

time frames trying to discover a bias to enter a trade .

Like Flip Wilson used to say "I attend the church of What's

Happening NOW " :lol:

Of course , there are some benefits if you are a position/swing

trader . I am only talking about short term type trades .

( Feel free to disagree .......... :wink: )

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Postby dojirock » Fri Nov 22, 2013 8:55 pm

I agree! BUT, I tend to use one other time frame (higher) to force me to hold trades longer, otherwise I always seemed to get out to early.
If something is wrong with your trading, isolate it and fix it. Thats what fixed it for me. Another example is waiting for the pullback to the opposite side of the ema for entries...fixed my problem of getting in at bad prices. If traders just could isolate one problem at a time then fix it, they would be set. Dont get me wrong, sometimes it takes more than one attempt to fix a problem.
....and as of late, I have discovered new problems pop up from time to time that can discourage and set back traders temporarily. Solution: Dont give up and stick to your trading plan. Temporary problems are different from trading plan problems. Its the trading plan that will get you thru those.

Sorry, didnt mean to get off on a tangent.


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Postby MightyOne » Sat Nov 23, 2013 2:26 am

What is now but a series of then the duration of which is determined by the speed at which someone observes? =)

"Now", at least for me, when it comes to trading, is a single bar with a duration that is the assumed length of time between a trader seeing and taking action.

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Postby MightyOne » Sat Nov 23, 2013 10:34 am

PebbleTrader wrote:A small chart...with the ability to zoom out a lot :)


TrendStacker 3 wide on left and 1 wide on right.

And, of course, a prev. close = open chart to keep the M1 looking pretty.
:lol:

Image


I'll just attach the indicator before any new people ask...
Attachments
JS_-MultiStack-.mq4
(11.31 KiB) Downloaded 66 times

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Postby Humble » Sun Nov 24, 2013 1:09 am

PebbleTrader wrote: ~~ That was kind of my point as well. Traders over value a close, just one tick out of hundreds to thousands, solely on what time it is on their watch.

Once we understand that the data is all the same and that the time slice doesn't matter...than we can discuss interesting solutions :)


Looking forward to these discussions. I do not know about others but whilst I can not disagree with your logic, I do not find it very helpful from a trading view point (at this time). I accepted the logic about closes some time ago but in the end I gave in and thought if it works why argue. I now see it the same way as I do S&R, that is if price was not manipulated S&R would not exist either!

A chart.

Image
Is price closing higher or lower than something? Simple yet powerful question. ..MO

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Postby PebbleTrader » Mon Nov 25, 2013 4:06 pm

Hey MO,

I think the TrendStacker would be more useful if the CC's were an independent price axis.

Because it is the same as the smaller chart, it stays too far zoomed in.
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