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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade
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To: Nemer who wrote (1423)8/11/1998 12:01:00 AM
From: FishbackJ  Read Replies (1) of 2120
 

<<most quote screens will give you TICK and TRIN is you enter them as $TICK and $TRIN ---
as far as telling you how to use them ....... now that's another story
I use them both every day, but it's more for obtaining a "feel" for the market than setting up strict guidelines for their usage.>>

Drag them into a chart and you'll see how the reversals from the bottoms are useful when they happen together.....not so much trin, but the spoos (S&P futures) and tick really affect the big techs. On a strong day, buying the bottom of a tick channel while the futures bottom at the same time is a virtual guarantee of making money in an already strong dell or msft, etc.

I'm really trying to take Woogie's advice though, about clearing the screen of all the graphs and bright lights and just watching the price on strong day gainers and dumper bounces, pullbacks, etc....

Here's the problem.....I'm just not able to see the subtle nuances JUST through the numbers.....I still need to "cheat" with graphs to keep track of the levels on several stocks at once.

I think what Ken was saying (and please correct me if I'm wrong) is that with enough practice, you can forget what all the indexes and futures and indicators are up to, and just learn to read the leading stocks, and actually be ahead of the rest of the stuff...right?

Thx,

Dick
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