TraderInterviews.com: One of the things you said was ATB, A-T as in atom tom boy?
Derek: Atom tom boy, that stands for Average Time in Bar.
TraderInterviews.com: Got it. OK.
Derek: Then indicator I have created. Well, actually, I won’t take credit for that. One of my guys created that thing. And we have an associated tool called the ACH which is the Average Candle Height which is also taking the clarity. When you’re looking at pure price you have a much more what I call a noise-free charting environment. So tails and wicks less frequent. They’re still present because you’re still looking at open and close, high and low, but you don’t have massive tails and wicks. So the presence of that becomes more important. With the ACH, it’s going to extend it. Visualize a histogram, and if I have a bar and so the ATB is a histogram going down, and then the ACH is a histogram going up. So the longer the ATB, the longer the bar, I have the more extended histogram pointing down, right? On the ACH, if my bars are full and they’re mainly just looking at the high and the low, and the close are all inside that bar, no tail or wick, so the ACH is going to get longer and longer, and longer, and longer. If I start seeing tails and wicks become present and consistently, it’s going to knock down that histogram of the ACH. So we’re using the two things. Two of the biggest inherent benefits of looking at pure price is you remove time. So we’re using that removal of time to our benefit on the ATB, the Average Timing Bar, and the clarity, and the noise free, and the cleanliness of the chart, so the presence of tails and wicks are much more substantial. So we’re using the removal of the majority of the tails and wicks to our advantage. We have an indicator and they’re kind of a yin and yang to each other. They have made the stat with each other. They take a very little space, and that’s always nice. They’re very simplistic to recognize.
TraderInterviews.com: So kind of just turning a candlestick pattern recognition system into just pure numbers to get a feel for it quickly.
Derek: Absolutely. Absolutely. Time is worthless to me, and it really comes down to price. Once again, fear, apprehension, and greed got to be patience, discipline, and consistency because trading is based on momentum, trend, and divergence.
TraderInterviews.com: All right. We’ll finish up with this. Goals for yourself. Do you set a dollar amount you want to make everyday, every week, every month? How do you set goals for yourself?
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