cheunt3 wrote: Fri Feb 18, 2022 7:20 pm
I've seen many traders using factors of 6 to analyse top down timeframes.
For example, 1080 mins, 180 mins, 30 mins.
I have even seen range and renko traders using 6.
Question is why?
What's the logic and reason behind using 6?
There is no logic in this, only mysticism in this.
The Russian poet and writer Pushkin has a story called The Queen of Spades.
There, a man killed an old woman so that she would give him the secret of winning in a card game.
She, dying, told him that he should bet first on a three, then on a seven, then on an ace.
He did just that during the game.
He won the first two bets big, and on the third, instead of an ace, the queen of spades somehow mysteriously fell out.
He lost everything, went crazy and was put in a psychiatric hospital.
For the rest of his days, he kept muttering the same phrase: three, seven, ace ...... three, seven, queen.
Never fall for the tricks of crazy players in the market, otherwise you will end up like the hero of this story.