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Bar and Candle Time Distortion

Discussion in 'General Forex Talk' started by blastus, Jun 23, 2009.

  1. blastus

    blastus Recruit

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    Does anyone feel that there is a time distortion in viewing price action in bars or candles instead of ticks?

    Could a lot of the illusiveness of Forex be attributed to a skewed sense of the ebb and flow of the market because bars hide the nuances of price movement and the actual dimension of time?

    Are bars and candles used only because of practicality?

    Analysis data for any time frame can be rendered from a tick chart.

    Are there trading platforms available that will allow you to view 6 to 12 months of tick price action on a single chart?

    I’m new at this, but I’m getting the idea that toggling back and forth between charts of varied time frames hinders an innate sense of market direction that many call intuition.
     
  2. Realistic

    Realistic Recruit

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    As for me it is a very simple method and only requires Bollinger Band of default setting and to watch closely the bar that penetrates either Upper or Lower band of the Bollinger.

    Stop loss is only set at 20 pips with take profit aimed for 40 pips. The stop loss will be reduced to 10 pips once the price has moved 10 pips from entry price and further reduced to break-even once price moved 20 pips from entry price.

    Entry: Simply count 30 pips from the highest or lowest point of the bar that penetrate either the Upper or Lower band of the Bollinger.

    This method is not a set and forget system. You must monitor the market movement (price movement) as it happens in order to reduce the stop loss level
     

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