DAYTRADING Fundamentals Message Board

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Strategies & Market Trends : DAYTRADING Fundamentals

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To: Herc who wrote (4280)	9/20/1999 10:35:00 PM
From: OZ	Read Replies (3) of 18137

"I would think that a 5 minute interval is too short to really meaningfully measure investor sentiment with candlesticks." The 5 min candlestick bar is the 44 magnum for the intraday trader. With a good eye and "candlelight" he will shoot ya dead and take all your money while you are left lying in the dark. It is also great for the swing trader as it allows them to tweak their entrance and exits. The first time a larger time frame trader uses it, he has to beware that he does not fall into the trap of letting the faster bars shake him loose. This is in my opinion the biggest problem for the new daytrader. Or rather, the biggest catalyst to emotional reversals. Three down candles mean nothing in the context of a daily bar swing type setup. The minute you rollover the stock will do what it was "supposed to". Almost feels like a conspiracy when it happens. regards, OZ

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