Chart Set-up

[brownsfan019]

	Quote:	walterw
	Browsfan : can you share a little bit whats your trading strategy on that chart ? thanks Walter.

Walter - let's see if I can...

GREEN LINE = Quick MA
RED LINE = Slower MA

Blue candles = up candles
Red candles = down candles

The strategy is rather complex and difficult to explain here... let's give it a whirl - both MA's pointing up, consider long; both MA's pointing down, consider short.

You'll note that I use Share Bar Charts (aka Volume Based Charts). I used to use minute charts and found that the premise behind them is faulty in that who cares what happens in 3 minutes? I'm interested in knowing when there is action, aka volume. I want to see when there is action happening and volume charts do just that - candles rapidly fire when there is action (and when I coincidentally want in) and candles take longer to form when there is minimal action (and when I don't want to participate usually).

I would strongly encourage all traders, esp newbies, to examine Volume Based Charts / Share Bars in your trading. The end result to me has been phenonmenal. The 'holy grail' (to me) if you will. Just changing a simple setting on how you view the chart is what propelled me to the next level.

note - I obviously did not disclose the exact way I trade. That was done on purpose. I believe in learning things for yourself. I could easily disclose how I trade here, but inevitably most would consider it to simple and need/want to complicate it b/c it just can't possibly be that easy...