Friday, February 24, 2012

Self Evident Truths


Self evident truths are propositions that don't need proof. It is a basic assumption upon which further ideas are built. Something so basic that it should not need defining or explaining. In trading also there are some self evident truths that nobody dares to question.

Once the great Aristotle said women have less teeth than men.No body questioned the validity for a long time because for them  theory-not experience-was the source of truth,

Most of the traders do multiple time frame analysis .Some of them run multiple charts on different monitors and their trading desks reminds me of the  Space Shuttle control room of NASA.

So far I have not felt the necessity of looking at charts other than my trading time frame. Actually smaller time frames show much more detail. Everything evident on a higher time frame is visible on a lower time frame much more prominently and much early.

In fact, I would have gone down to much lower time frames, but the problem is my mediocre brain cant process so fast.

I may need some RAM upgrade

My opinion is purely a day trader’s perspective. Swing and  Position trading are different ball games

5 comments:

  1. Agreed on time frames. Douglas Tucker has written a beautiful article on this subject. Maybe you've read it.

    For other readers who would like to read, here is the link

    http://tuckerreport.com/articles/time-frame/


    Good day ST,

    ss

    ReplyDelete
  2. SS

    Thanks for the link.

    I feel Time frames,Candle patterns etc are not that important in trading.

    Trader decision points and acceptance and rejection of these levels are much more important.

    ST

    ReplyDelete
  3. Hi ST:

    Good article. Truth is enlightening when understood or else it hurts badly. You are right, "acceptance and rejection levels" are important. Thanks :)

    ReplyDelete
  4. Hi VK
    Thanks
    Please do visit and write your comments

    ST

    ReplyDelete

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