Garry - did he say anything in the webinars about the 5min timeframe on other markets than ES? I've been experimenting with 5min vs. other timeframes for Euro & CL. So far I settled on 5min on Euro and I've almost settled on 5min for CL too.
I don't recall him saying anything specific to other markets, but he did have 5 min. charts marked up for AAPL, RIMM, POT, OIH, GS and SPY. I seemed to get the drift that price action is price action on his 5 min. charts.
- a PDF of this article which is supposed to have a couple charts missing in the web version.
- two PDFs made from a member of trader's laboratory
- some of his articles for the futures magazine
I made it to page 15 or so of the thread, there could be a lot more I will read it later. Al was participating in the thread so I highly recommend reading the thread. It's great when people post questions and Al explains it. The first time was quite unexpected.
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A retired pit trader said that 5min is noise. He didn't recommend anything less than 5min. That's when I first went "back" to 5min charts after having tried tick charts for a while. It makes sense to me. A big trader goes to the bathroom and I put in my order. He comes back and my stop is hit. Bathroom breaks shouldn't impact the trading.
For CL the 5min bars are often 30 ticks long (or more). To get around this "problem" I was dropping down to lower timeframes. But that just gave me even more noise. Price moves through stops like a warm knife through butter. Not good.
So now I'm of the opinion that if the 5min is not good for trading then I should look at other markets.
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