I was trying to pull your leg, nevertheless with the intention to transform the subject into a serious discussion. Your first post of this thread states that
- x-axis scaling and y-axis scaling should be fixed (ok, no objections from my side)
- there should be a proper relationship (this sees me quite sceptical)
Fixed scaling has some obvious advantages.But what is a proper relationship between time and price?
I am always very sceptical, if somebody comes with angles, squares or any related stuff. I have read a few chapters by W.D Gann, and what I have found was valuable trading advice blended with a lot of unbelievable nonsense. I mostly would subscribe what he says about trading psychology, but his master methods for forecasting are somewhat flawed.
I believe that there is no such thing as a relationship between the time and price scales.
I understand your view "unbelievable nonsense". Sometimes I trend that way sometimes not. Gann thought of time and price as the same. Some of the geometric stuff he used "resonates" with me. Some of it reads like a sci-fi novel. So I really am not interested in debating, in great depth, Gann's methods at this time.
I do think there is a proper relationship between time and price, if at the very least, how data gets displayed on the chart. When I look at a NT chart and see price axis divisions two ticks wide...well that is just ridiculous visually. A seven tick change over the "time" represented by three bars looks like a breakout.
I just prefer a consistent "view" ..one where a 1:1 slope looks like a 45 degree line...that is what I mean by "looks right".
I'm attempting to post a webinar by Earik Bean the creator of Wave 59. I do not understand a lot of what Earik uses, but I know him and have great respect for him. His platform is, IMO the best, bar none, for analytics. I have great indies and strategies that are locked up there because I have yet to become adept at coding. I'd love to bring some of those ideas with me to a platform that integrates with my broker.
Thank you for posting the video link. I am just watching the section Price-Time in IBM. I feel sorry to say that the video confirms my prejudice. I definitely do not want to insult anybody, but the video is alsp plain nonsense. Just continuing that tradition of Gann and in line with what I have read.
Counting forward 121 bars to find the next high, because a first high was made at 121 points, will only work, if lots of traders share that superstition and use the same bar types.
The Age of Enlightenment was in the 18th century, unfortunately a lot of false beliefs and numerology has survived until today. I just feel that I have to stand up against this from time to time.
False beliefs are dangerous. Numerology, creationism and islamic fundamentalism have the same roots,let us call the brothers in spirit. I am not astonished that Gann has also published some religious writings, but I am certainly not going to touch that stuff.
point of view Fat Tails. I, by choice and by belief, tend to agree with what you are saying here. I'm not going to contend. I will hold on to my statement that IMO it "looks" better as a visual when a slope of 1:1 looks like a 45 degree line on a price chart.
I do share some of Earik's approach to trading and the markets. I also find value in his product. I know what he has accomplished in trading, like Gann's tarding results, that can't be denied.