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Conflicting information

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Market Wizard
Gits (Hooglede) Belgium
Trading Experience: Master
Platform: NinjaTrader, Proprietary,
Broker/Data: Ninjabrokerage/IQfeed + Synthetic datafeed
Favorite Futures: 6A, 6B, 6C, 6E, 6J, 6S, ES, NQ, YM, AEX, CL, NG, ZB, ZN, ZC, ZS, GC
rleplae's Avatar
Posts: 2,955 since Sep 2013
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Grantx View Post
This is a preventative maintenance strategy. Instead of imagining trade signals on this Friday afternoon and taking stupid trades which Ill regret later Im going to distract myself by typing this post. Here is an observation from earlier today.

I was watching a video journal and noticed the chap had quite a few different charts open. Tick charts, time charts, volume profiles, lines, indicators. This is all fine if the information gives you an edge but I must say that it is quite taxing on your mind having to continuously process multiple streams of data.

I have tried watching various different things on a single instrument and in my case it was unsuccessful. The problem is that the more you attempt to complement your decision making by using more tools, the harder your brain has to work (not the other way around).
The more confirmation you seek the more conflict you create.
This is entropy. Things are always getting hotter. The more you try and control, the more chaos you create.

There will ALWAYS be something conflicting with your idea and your job is to remove it. Cut it away like ts a cancerous growth on your method. If it works sometimes then bomb donít need it. You might find that you end up removing everything and relying on one or two simple signals and your own intuition. Thats not a bad thing.

What do you think?

Few comments :
dont change your charts all the time, stick you what you have and only change 1 thing if needed at a time
the setup should be complimentary, looking at a higher time frame is quite common
you can have daily, 5 min, tick bars etc.. you look at it top down, for example the daily you look at
the start of the day and once in a while, it is for the context
what i mean, is if you are all the time in tick charts, you tend to loose the bigger picture

but last but not least important, you should put the charts on YOUR screen that work for YOU
every person has his capability and his way of doing
there is no GOOD or WRONG combination

1) don't change it every other day
2) get used to it.. = many many hours of screen time

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