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I think he's doing it at a very fine-grained level. He claims you need automation, fast access (he says Tradestation isn't fast enough), etc. So he must be scalping for a few ticks.
if you trade on a higher timeframe then the automation and fast access isn't necessary and I think the time histogram (which is very similar to what I had produced) is pretty good.
Can you help answer these questions from other members on NexusFi?
I'm almost through the thread. After all my testing I believe my current volume template & indicators (posted in my volume thread recently) are "good enough" for me. Check it his two trades here:
Not that it matters but his name is Pat Dittmar.
Here is something I found on his bio from ecwpress.com
Pat Dittmar has played professional poker for more than twenty years, and has been a consultant to a major online poker site. His math expertise comes from years in the financial community, including partner in a brokerage firm, derivatives trader, big block trader, arbitrageur, and Compliance Registered Options Principal. He lives in Las Vegas.
Here is a podcast interview he did in 2008 about his book.
On this podcast, he says he is 64 years old. I've not found any photos of him.
I have been checking some things out and I've come to an impass.
The spikes on the chart MUST be something besides or in addition to volume.
They could be volume related but they are strange because of a few things:
If the chart is a 1000 share chart = 1000 volume bar chart. (Ninja can do that I've run it with the replay data just as he has on the data from 9/17/09.
I see the three areas his charts show as spike areas. Some of the indicators I'm using actually show some type of volume spike but here is the part that is the puzzle:
If the bars on his chart are 1000 volume, then EACH bar will only show 1000 contracts and then a new bar will be generated. His charts show spikes over 45000 on those volume bar charts. If that were volume spike alone without some modification then the 45000 contracts would have created 45 bars not 1.
(at least that is the way I understand constant volume charts work)
I think the system he uses looks very good but I'm not certain that everything he writes is easy to uncover.
Am I missing something here?
Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
I forget the third. For the 2nd, the only way I know how to do that is by using upTicks & downTicks in Tradestation.
Let's say price is moving up to 1000 and I got a limit order to buy a million contracts at 1000. The ticks at 1000 are going to be on upticks (I'm letting the market come up to me), which would make us think it was buying volume. And it was, buyers pushed the price up.
Unfortunately NT 6.5 doesn't have this. It's something I can't trade without, which is why I use both NT & Tradestation.
So if you guys want me to test anything out on TS I can..