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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: SE who wrote (7710)	11/3/1998 9:05:00 AM
From: Patrick Slevin	Respond to of 44573

<he never uses it cause it is longer term in nature> You have to remember I trade off 5 and 1 minute bars. I think for me to implement it the market would have to have a quickly identifiable set-up due to the time constraint. The way I glance at patterns it would take me longer to size up the Pitchfork; hopefully I would already be aboard a move that may only be less than an hour in duration. On the other hand, if one were to extend the trading pattern to one hour bars, perhaps.....or 45 minute bars (probably better) then implementation may be smoother. But consider this: If the Daily A.P. extends back to June at this point we are talking of perhaps 60 ticks. Using even 45 minute bars that's over 6 days of intraday data to scope out. It may be viable; but I do not think the Pitchfork lends itself to view as readily as all that. That is to say, it may take quite some time before one can "see" where the precise points on the fork should be set-up. Looking at the current config from June, it would have been from whenever the prior config of the fork started until October before one would have "seen" the current config. I think I'm on the right track with this; perhaps my impressions are patently absurd.