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Old 05-09-2008, 09:49 PM   #9
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Re: GPS Trading

Quote:
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.

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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.

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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.
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Old 05-09-2008, 11:20 PM   #10

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Re: GPS Trading

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.
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Old 05-10-2008, 10:45 AM   #11
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Re: GPS Trading

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Originally Posted by 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.
Thank you for the clarification.

i.e. Market Profile

...which can, and many times is looked at in different time frames. Market Profile is just a statistical representation of a period of time (e.g. a daily candlestick).

However, I would like to add that this thread is posted in the "General Discussion" section and was meant to share a fun analogy. If anyone wants to discuss more in depth concepts about lagging indicators, market profile, etc...I would suggest starting a new thread. I would be more than happy to reply.
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