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The following is just my opinion
In laymen's term, shorter time data (intraday,daily) might have a big random
factor,
but the trend can generally be seen more in a higher time frame . The trend is
the dog,
with the short term data is just the tail (random wagging).
Mark Brown wrote:
> I categorize random data as data that has a short term impact on the market,
> but yet not valid in determining the overall directional mission of the
> market. To understand this completely (and I believe you do, but I'll
> expound here a bit for others) you must first know without a doubt what the
> general directional intent of the market is. Now Intent is Only after this
> is fully understood (and this alone is difficult at times) can one start to
> thing about capitalizing on short term random price moves whether with or
> against the trend. Yet that is another theory of trading, I failed to
> mention in the original post. Price shocks could be a general description
> of random data, if they are instigated by something other than orderly price
> flow. MB
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