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What is your favourite chart type for your trading entries?
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What is your favourite chart type for your trading entries?

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What is your favourite chart type for your trading entries?

What is your favourite chart type for your trading entries?

There are many different chart types available: time, kagi, line break, point&figure, range, renko, tick, volume, and more.

Which one is your favourite chart to make money?

When I started out trading, I used a 1 and 3 minute charts, then drifted to line break and point & figure for a while, and finally end up with 2 minute chart. This one just grew on me. Sometimes is bit messy so I take a break. The main point is I can use it with many different instruments which is a plus.

Mike, I've searched the topic and I couldn't find similar thread. If I missed something please accept my apology and move the post to the appropriate thread. thx
Also, please visit ES Unfair Advantage where I asked you about the other thread that I would like to start. It's called Emotional Intelligence.


Last edited by dario1; August 17th, 2012 at 08:18 PM. Reason: typo
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Quick Summary
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If anyone wants to post anything regarding this topic please feel free.


Last edited by dario1; August 14th, 2012 at 01:22 AM.
 
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true or false


95% of successful traders use 5min charts for their entries?

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95% of successful traders use 5min charts for their entries?

@dario1

How would one come up with that percentage?

I use range bars .... and I'm in the 1% ....

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I'm just a simple man trading a simple plan.

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I've dabbled with a lot of them, but I rarely touch traditional time based charts anymore.

I either use, Kase (modified range) charts by their lonseome or in conjunction with an artificial renko overlay (which allows me to see true highs/lows and gaps). Or kagi charts.

Time based charts have too much noise for me.

"A dumb man never learns. A smart man learns from his own failure and success. But a wise man learns from the failure and success of others."
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I only use time based charts with the volume histogram and three simple moving averages 21/55/233, nothing else

- Monthly/Weekly/Daily for my swings
- Daily/60m/10m for my intraday Trades

Successful people will do what unsuccessful people won't or can't do!
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@dario1

How would one come up with that percentage?

I use range bars .... and I'm in the 1% ....

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hey TMFT, what a splendid looking chart.
And yes, you're right regarding the range bar users. I'm actually experimenting with range charts now.
There is a excellent info @ Range Bars | Great Trading Systems

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@dario1

How would one come up with that percentage?


@ThatManFromTexas


I don't know but I got that from the futures.io (formerly BMT) site

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@ThatManFromTexas


I don't know but I got that from the futures.io (formerly BMT) site

@dario1

That wasn't meant as a criticism of you ... You will hear all kinds of numbers bantered about i.e. percentage of traders who fail, number of hours of "screen time" to become a successful trader etc. ... but no one seems to know where those numbers come from ... was there a scientific study that produced those numbers... or did someone say something in jest one day and someone else quoted them making it an "internet fact" ... in that case ... the 1% of all traders use range charts thingie ... is now a "fact"

btw ... I pulled that 1% number from the same place I suspect a lot of the other statistics quoted come from....


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Thanks for the article on range bars. I liked using the 2min for about half a year. Before that a tick chart such as 377. Now I like using range bars, but only the Rjay rangenogap version because I can still see some two-candlestick bar price action behavior. It seems to help filter out some 1-2min small chop and fakeout areas for me. https://futures.io/traders-hideout/2248-rangenogap-vs-range-bars.html

Article on RJay's Renko Hybrid bars:
AN ANTIDOTE TO CHOP AND EMOTIONS? | Fx Daily

Free download of RJay's RangeNoGap:
Range No Gap Bars Chart

For non-intraday options trading, (swing trading if ever) I still like the regular daily candlestick chart.


Last edited by Cloudy; August 19th, 2012 at 06:53 AM.
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