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Trading is all about filtering an overload of information. having too much will
prevent you from efficient decision making. Having too little, you may miss
important info. Key is hence to find out what is really important to you, not to
others, as their own decision making may be quite different.
Lastly, in terms of costs, things are again the same. On one hand you need to
spend a bit to be able to make some, but on the other hand, if the cost becomes a
burden, it will interfere with your trading and have potentially desastrous
consequences. Intraday is obviously better than daily, if only to make sure your
daily testing was correct. However, if you cannot afford the cost really, then
just buy intraday data to test, but trade only daily, and wait to trade intraday
until you really have the means for.
Best regards
Gwenn
Bbbazusa a écrit:
> 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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