No. of Recommendations: 1
Quill,

Use whatever bar format works for you. It's not like you're new to this stuff. I just know that trying to use 5-minute bars would drive me crazy.

Sometimes, a name is just a name, and nothing of significance is meant by it. But when it comes to putting money at risk, the terms matter, because they define tasks and shape perceptions. TOS might have called their alert system a 'scalping tool'. But the HFT boys would snicker.

In his book on technical analysis, the guy who edited the Market Wizard series argued there only three possible trading systems: trend-following, counter-trend trading, and patterned trades (the S&H stuff, etc.). Clearly, your intent, purpose, and goal is trend-trading, and you favor 'longs'. (Using inverses is trading long, as opposed to putting on an honest 'short'.)

Now, you've become intrigued with shortening up your holding-periods, and I agree. This is a frantic, jumpy, rumor-driven market where profits are wispy ghosts, appearing and disappearing quickly. Getting in and out the same day makes sense, at least with a portion of one's risk capital.

Arindam
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