Related summaries to Time vs Price in Trading

CIC Romeo Chapter 2 Part 1

The transcript discusses the importance of understanding the concept of Candle Range Theory (CRT) in trading. The speaker emphasizes that time is more important than price when it comes to successful trading. He explains that the majority of traders focus only on the price axis (y-axis) and neglect the time axis (x-axis), which is a crucial mistake. The speaker introduces CRT, which essentially means that every candle represents a range that will either be broken out of or turtled (true or false). He demonstrates the importance of time by using the example of two traders, Jason and Romeo, who bought Bitcoin at the same price but had vastly different outcomes due to the difference in their entry times. The speaker then goes into the different levels of CRT, including the 4-hour, daily, weekly, and monthly time frames. He explains that each daily candle is composed of six 4-hour candles, and the highest probability of getting a CRT candle is related to the 9:00 a.m. New York time 4-hour candle. The speaker warns the audience against "CRT grifters" and "merchants" who may try to capitalize on the popularity of CRT by offering simplified or modified versions of the concept. He emphasizes that anything anyone knows about CRT is what he has taught, and any additional claims or "innovations" should be disregarded. The speaker then provides a detailed explanation of the 9 a.m. CRT model, which involves marking the landscape, identifying the higher low, and waiting for the formation of a specific pattern before entering a trade. Finally, the speaker discusses the weekly and monthly CRT models, highlighting the fractal nature of price and time, and how the patterns observed on higher time frames can be applied to lower time frames to gain experience and improve trading performance.