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Using harmonic time frames doesn't make sense


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Using harmonic time frames doesn't make sense

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  #1 (permalink)
Denver, Colorado
 
Experience: Intermediate
Platform: Ninja Trader
Trading: ES, CL, anything that makes $$
 
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So its suggested whether its Gann, Murrey Math, etc they advocate using time frames 4, 16, 32, and 64 because they are harmonic numbers. Has anyone every stopped to think about that there aren't an equal number of divisable time frames in a trading day?

None of those number whether using globex or cash comes up with a equal number for ES? Does that make sense. It doesn't to me. Try it yourself. Emini S and P opens 9:30 EDT closes at 16:15, thats 405 minutes divided by any of the above numbers and its not equal so atleast one of your time segments is distorted. Same with globex 1425 minutes not equal.

This is both a question and a statement. I would appreciate some constructive feedback.

Good trading to all.

Dan

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  #3 (permalink)
Chicago,IL
 
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I think you are right, they don't make sense.

The reasons, for me, are a different than yours. During Gann's time intraday info was non-existent- his minimum time frame would've been daily.

As to the validity of intraday time frames- this, to me, is one of greatest errors in technical analysis. The example I use is this.... People don't buy and sell according to a clock. Standing in line at stores and watching people buy things: I have never seen some wait for a particular minute to close before laying done their hard earned in cash.

If you ever attended an auction, whether in the financial arena, real estate or merchandise, you would see people bidding based solely on price and perceived value. To think that people would abandon their habits of buying and selling when it comes trading in financial instruments just doesn't make sense to me.

Thus, it is impossible for me to justify the importance of a particular time interval.

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  #4 (permalink)
Denver, Colorado
 
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TI Anon View Post
I think you are right, they don't make sense.

The reasons, for me, are a different than yours. During Gann's time intraday info was non-existent- his minimum time frame would've been daily.

As to the validity of intraday time frames- this, to me, is one of greatest errors in technical analysis. The example I use is this.... People don't buy and sell according to a clock. Standing in line at stores and watching people buy things: I have never seen some wait for a particular minute to close before laying done their hard earned in cash.

If you ever attended an auction, whether in the financial arena, real estate or merchandise, you would see people bidding based solely on price and perceived value. To think that people would abandon their habits of buying and selling when it comes trading in financial instruments just doesn't make sense to me.

Thus, it is impossible for me to justify the importance of a particular time interval.


If you think about it though time is definitely a variable because if nothing else employees get paid a certain time of the week. During the auction process whether its real estate or market profile in the financial arena price trades back and forth. Even a real estate auction has a start and stop time. Just some point to consider.

I brought up the point about time intervals because it happened a few years ago with TradeGuider. Gavin recommended a certain time seting and I thought that doesn't divide equally into the trading session. So its going to be distorted at some point. I asked another well respected educator about incomplete time periods and agreed it didn't make sense, as you would lopping off minutes of the last period of time.

I have only been studying Gann/MM for about a month. But I do recall reading Gann suggesting that traders would be well served trading off of higher time frames. And I agree. The Murrey Math lines appear more accurate on 15 min and higher time frames.

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March 19, 2010


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