There was a time, a long time in fact when I preferred slow charts and a slower pace of trading. I’m not sure exactly when the transition occurred, but at this stage of my career I personally prefer faster charts and more frequent opportunities.
We all differ, we each have our preferences and the good news is, we can take the same trading strategy and articulate the time-settings to meet whatever mode of trades execution we personally desire. That’s the power and the beauty of our CM Patterns method… it functions across any chart settings you opt to operate. If that were not the case, if only a specific setting of charts would work, there could be no sharing such a strategy with the public.
Fortunately for all involved, reality in our profession is that chart settings simply don’t matter. If the strategy works, they all work in kind.
Room For Improvement
On the personal executions side, I’m happy with my performance but not content. There is definitely room for improvement, particularly on the TF “fast-swings” side. I can see where a more focused attention span results in much greater gains… but likely at a cost of diminished attention spent elsewhere.
Of course it goes without saying that with one glance at today’s Russell 2000 and Crude Oil futures charts above, you can plainly see these are still unusual outlier market conditions. For whatever reason(s) overall market liquidity is at all-time historical lows and price behavior is bastardized because of that, you know these conditions cannot last forever and most likely won’t persist much longer.
That said, I am prepared to trade quick, nimble and precise for targeted daily gains of +50 ticks or so from either/both symbols and retire from work => enjoy life for the balance of that day, asap. Both TF and CL offer solid opportunity to make more than enough progress between the pit session open and noon est.
More often than not, I expect that to be the bulk of my workday as demonstrated in the Russell Friday and Crude Oil today. And if in fact that sounds good to you, you can certainly do the same thing, too.
For more daily updates from Austin, visit his blog at Coiled Markets.