Alan,
Thanks for the TA lesson. Some of it is familiar to me, especially the first hour breakout, which I think most traders are aware of. I'd have to learn a lot more about charts to set them up for fibonacci, bollinger, etc.
My theory, though, having used stochastics for awhile, is that I can see the action faster on my screen and play it faster than anyone who is watching charts. I have a minder (window) which shows the DJIA, Nas, S&P 500, S&P Futures, Tick and Trin. I also have secondary pages which show these in chart form with stochastic overlays. But I only go to my secondary pages if I can't see the action on my primary screen. Watching my indices window gives me a really good picture of the markets' moves and market sentiment. I also keep CNBC on to keep up with breaking news. And, I have a bigger minder with thirty stocks in in with bid/ask last so that I can visually see the action.
I am sure as I go along I will look more at the charts you mention. I'll try anything that works.
Rick |
