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Using Non−Time Based Charts for Short−Term Forex Trading
Thu, Jan 17 2008, 14:52 GMT
by The Forex Journal
This article is taken from the Forex Journal, a special edition by Trader’s Journal magazine in Nov 2007.
The author is Dr. John Clayburg. A trading system developer and trader based in Western Iowa in the U.S. More information on the Universal System and other self-adaptive automated systems and indicators
- Have you ever considered using non-time based charts in your technical analysis? Dr. John Clayburg talks about the advantages and disadvantages of doing it:
Daily bar charts have been part of technical analysis since trading of commodities and equities commenced on centralized exchanges. Many books written by the early ‘masters’ of trading are heavily laden with handdrawn graphs recording the daily activity of various stocks and other traded items.
When short-term trading and daytrading became popular a several years ago, the natural progression of this activity was to also use charts to analyze short-term market movements.
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Published on Thu, Jan 17 2008, 14:52 GMT
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Legal disclaimer and risk disclosure
This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the authors and the publisher are not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought. In commodity trading, as in stock, and mutual fund trading, there can be no assurance of profit. Losses can and do occur. As with any investment, you should carefully consider your suitability to trade and your ability to bear the financial risk of losing your entire investment. It should not be assured that the methods, techniques, or indicators presented in this magazine will be profitable or that they will not result in losses. Past results are not necessarily indicative of future results. Examples in this magazine are for educational purposes only. This is not a solicitation for any order to buy and sell. The information contained herein has been obtained from sources believed to be reliable, but cannot be guaranteed as to accuracy of completeness, and is subject to change without notice. The risk of using any trading method rests with the user.Related reports
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