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Traders:
I just found out that a trader, who I respect, does not use, or monitor his
trades with real time data, even though he has Trade Station.
Interestingly, I have followed comments on Wheat, where the end of dayers say
sell, and someone who looks at daily charts as well as 60 minutes suggests
buy.
Which brings me to the point of the value of realtime data.
1. When I got Real time data, initially I felt guilty if I was not watching
it every
minute, and not trading the 5 minute S&P, as I had paid all this money for it,
and was not getting my moneys worth.
2. I am now of the opinion that it is an expensive tool, to be used possibly
for entry and exit. However it is a tool that I am wondering whether I can
continue to afford
3. There are End of Day traders who plan everything from the daily chart, who
would like to position themselves intraday, say at a Fib point and act if
things look right, as opposed to just putting a stop in the morning and
checking to see what happened in the evening. Also the wave structure can be
analysed by going down one time frame
4. Delayed data - I am not sure is of much value. If you plan to act on data,
then you want current data, and if you are visual, you need to see the graph
Any comments, pro or con. At present I like to analyse the daily and try and
position intraday. But the $$$$$$ are a burden according to my wife !!!!!!!
Edgar
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