Use Less Stuff Thursday, page-39

Hi - Yes, I now base my gaps on the 5 minute chart as that is what I trade these days. Yes, there are different gaps on the 1 and 2 minute charts, which I used to pay attention to, but it can get rather tedious on that smaller time scale. I guess it depends on your trading style and what your profit objectives are. In the slow period, trading a 1 minute chart on a gap basis can yield 1 to 2 points in a few minutes, and just keep doing it, but I stopped doing that. The smaller time scale gaps get filled quickly coz as you know, during the day we can have a 2 to 3 point bid/ask difference. I found that if they are still showing as unfilled gaps on the 5 minute chart, then they have more significance, and also, yes, it's bad for the eyes and automation would help with a gap trading strategy. cheers