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Discover the Decisionbar Trading Software! Les Schwartz, President, DecisionBar Trading Software: One tool that is consistently under-used by most traders is Range Bars. When you create a chart using Range Bars, each bar represents an equal range (amount of movement) from the high to the low of the Bar.
The time interval between bars can vary quite a bit. More bars will be drawn during a specific period if the market is moving, and less bars will be drawn if the market is quiet or choppy.
With my DecisionBar Trading Software, this has the effect of giving fewer signals when the market is not moving, effectively reducing whipsaws. Here is a portion of yesterday’s chart of the S&P 500 eMini using 3 point Range Bars. I’ve applied my DecisionBar Trading Software with just the default settings. Since the S&P 500 eMini trades in increments of .25, a 3 point range bar represents movement of .75.
The time interval between bars varies from as little as 30 seconds to as much as seven minutes or more, but each bar represents an equal amount of movement (.75) from high to low. One thing to be aware of when using DecisionBar Software to trade using Range Bars, is that Secondary DecisionBars become much more important than when using time interval charts.
This is because Secondary DecisionBars are generated from chart patterns, and chart patterns are much more effective predictors when the market is moving. Learn more about DecisionBar Software and how becoming a DecisionBar trader can super-charge your trading profits. This is just a quick reminder that this year’s 4th of July Promotion will end on July 6, 2010. Here are the details:
1) Subscribe to DecisionBar by July 6, 2010 and we’ll give you a three week FREE trial of TrendLine Trader.
2) If you decide to keep your DecisionBar subscription active after your trial period, we’ll continue to give you free access to TrendLine Trader for as long as your DecisionBar subscription is active.
3) I’ll also include a PDF with hints on how to use DecisionBar and TrendLine Trader together to improve your profitability.
I got a kick out of this email I got from one of our subscribers that has been using DecisionBar and TrendLine Trader together for a couple of months:
“I can’t stand this!! I’m making nothing but Money!! Don’t tell anyone!!”
Name withheld by request.