Fast moving range bars push my buttons.
I have less time to think and more opportunity to react.
With time bars I feel I have some control as I know when
they will complete. And 5M bars give more opportunity
for more profits from fewer trades. The range bars
make me nervous and and I react impulsively.
The following user says Thank You to plethora for this post:
Hmmm.. there used to be a trading room from a group over at NationalFutures.com that ran 5 and 15 minute charts on ES, TF, YM and 6E. It was managed for John Person by a guy named Butch Hedding I think, but that was a couple of years ago. I cannot vouch for how good it is but it is at least still in operation and I think they provide a free trial of some sort.
Mind you this is not an endorsement of any kind. I just remembered that they traded with 5 minute charts, as you had mentioned.
Last edited by randyjb; March 6th, 2011 at 09:27 PM.
The following user says Thank You to randyjb for this post:
Just looked at the website and it seems they would be upselling proprietary indicators.
And no specific details about the trading room.
But thanks for thinking of me.
Still searching. The one and only MWinfrey at futures.io (formerly BMT) would run a rockin' 5M trading room.
Once upon a time, I was a member of a now defunct trading room whose name will remain anonymous that taught setups on the ES using a 15 and 60 minute chart. The moderator had great success (or so he claimed) because he incorporated tape reading (i.e. discretionary) input into his setups. As a result, his students didn't do anywhere near as well for themselves as he claimed for his account because they only learned the setup rules, not tape reading, which was touchy feely. However, to his credit, he called out trades in realtime, not after the fact. He also claimed to trade 32 ES contracts at a clip. There were times when he doubled and tripled down on a trade. His method was contra-trend.
I will post the setups here as I see them develop if anyone cares. No indicators, nor nothing esoteric. Simply price patterns based on the bars.
The following user says Thank You to Tundi for this post: