GPS Trading

[Hlm]

Today in the chat room a member was describing how they could see direction but had trouble finding entries. Of course, my initial response was that if you can really see direction on one time frame, all you need to do to get precision entries is to look at other time frames as well (of course easier said than done, but that's not the point of this thread). Then it hit me. Of course that could have been the second cup of coffee taking affect too . It's exactly like GPS. One satellite doesn't do much. It pretty much can narrow you down to what side of the globe you are on. Add another one and maybe it can narrow it down a little bit more depending on the distance and location the satellites are from each other. When you add the third satellite your position can be triangulated accurately if you know your elevation. Add one more and you have precision. I can picture the book cover already . As you can see, I posted this in the "General Discussion" area because it is more of a caffeine driven rambling instead of serious trading discussion.

ADDED: Again, just a fun thought. Not meant to go into how to read those time frames or how to find the area of least resistance.

[TacTrader]

Does Garmin make a model that will do what you describe?

[garp]

ahahahaha

[btrader2]

After you have that lowest time frame precision....Send the drone.

[forsearch]

So, in essence, you are saying use at least 4 timeframes for accuracy?

[Hlm]

Originally Posted by forsearch So, in essence, you are saying use at least 4 timeframes for accuracy?

Only if you don't know your altitude .

Yes, but not necessarily four separate charts. You want multiple vantage points. This could be achieved with a combination of candlesticks, market profile, vsa, oscillators, moving averages, etc.

[forsearch]

Originally Posted by Hlm Only if you don't know your altitude . Yes, but not necessarily four separate charts. You want multiple vantage points. This could be achieved with a combination of candlesticks, market profile, vsa, oscillators, moving averages, etc.

The last two: Oscillators and Moving Averages... don't you find them to be a bit laggard when using them?

Also, what about using tick chart and a volume/share chart, and a regular (time) chart concurrently. Would this fit your parameter of showing a different view of the markets?

-fs

[ckait]

how about price time and volume through in some tpo's and your good to go

[Hlm]

Originally Posted by forsearch The last two: Oscillators and Moving Averages... don't you find them to be a bit laggard when using them?

This is where many traders, in my opinion, get off track. There is absolutely nothing wrong with using a lagging indicator if you use it to obtain the correct information. Many traders look to indicators for a signal TO trade when they should be using them to find areas NOT to trade. By being able to quickly and efficiently remove lower probability situations, you give yourself a greater chance at being correct.

Originally Posted by forsearch Also, what about using tick chart and a volume/share chart, and a regular (time) chart concurrently. Would this fit your parameter of showing a different view of the markets?

It strongly depends if your vantage points are unique enough to quickly spot the required information. If during a certain market condition your time, tick, and volume charts are giving you similar bars then there is not enough difference to extract the required information.

Originally Posted by ckait how about price time and volume through in some tpo's and your good to go

I take it that when you say price and time you mean candlesticks on one time frame? If so I would consider that one, not two.

[ckait]

by price and time I mean the acceptance or rejection of price over time. is price trading for a significant amount of time at a level or is it being quickly rejected out of a level. candles are only a reflction of the time price relationship as are bar charts and point and figure charts as well.