Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I think what's missing in your stats (which renders them unusefull in their present state) is a second point of reference. Example, the distance to yesterday High = 5.75, what's the probability for price to return to 1146.75 before making an equivalent trip in the opposite direction considering the opening print at 1141. Or if price moves lower after the opening say 1 point lower at 1140 or 2 or whatever value, what's the chance to get up to 1146.75 ? Conditional stats speaks more than generic stats usually. Conditional stats like this provide actionable knowledge that may result in value.
Can you help answer these questions from other members on NexusFi?
I see your point, and that is the rub with working with OHLC daily values...there is no time component. In your example above the Chance to get up to 1146.75 = 57.02%. No matter how far the price drops, the chance remains the same. Only if we take out the YL target would the % change. Then we could look for the % of both YL and YH targets being hit. See post # 10.
We have only had a couple days (maybe one if I remeber correctly) where the stats have been very useful. Some days they are dead on.
Like I said before...tomorrow is a coin flip as far as direction goes. The predictive value of the stats are limited. If they are useful to you GREAT! If not, thats OK too.
