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My opinion - it doesn't really matter which type of charts you use. It won't make the difference between making and losing money.
All you need to know is where the market has been and where it reversed.
The actual interval isn't that important either - it should be set so you can see enough history to make decisions. For me, that means being able to see the current session on the screen.
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a use ticket chart for scalping aim very happy a never use bar time chart because he ripped money and confused time trading =expose to risk and time is risk to go more 5 minute you inderstand a hate to make time bar and look it goo up go down never seee what happed a use ticket chart when market go fast make good profit for market and range bar for other market : Becky:
Big firms and non professionals enter orders based on time and price, together. if you've ever worked a big order book, you would understand that humans love easy reference points, and time is often 1 of them.
And what I elaborated on was to easily reference fast buying/selling via time charts. That is not irrelevant.
To say such a blanket, sweeping statement does not work in markets that have so many complexities.
They do - but many believe in astrology and moon-phases, too.
There's no rational reason for using Fibonacci numbers to set the tick-count, is there?
I may have missed something (and in fact that's normally the reason for my failure to understand things) but I don't really understand why people with volume-charts available should ever prefer tick-charts. There seem to be enough of them, even among profitable traders, for there probably to be a valid reason, but I don't understand it, myself. Even after discussing it on several occasions.
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
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I have come to believe..... if you (the understood you) are comfortable using whatever you use and believe in it in yourself your method your skill sets your abilities your judgment your decisions making ability your self control are confident (for the sake of a brief post stopping here) you could use just about anything in any combination and pull $mil's from the market each year.
Beliefs are the most powerful. They define your life in every single way. It's an illusion that most can't see past.
For example I no longer have any desire whatsoever to view or participate in trading type webinars. It matters not what that person does in that webinar training. If they believe in it to the extent stated above it will work for them. And if someone tries to fit it to themselves but doesn't believe in it it will not work at all.
This might sound dead wrong and one could say, "but if the system works and you apply it correctly XYZ will happen" but that's part of the great illusion sucking in traders every single second.