Momentum Daytrading - Tricks of the Trade Message Board

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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade

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To: William W. Dwyer, Jr. who wrote (1436)	8/12/1998 11:04:00 PM
From: Rick Faurot	Read Replies (1) of 2120

Bill, Tick isn't really a leading indicator because it describes something that has already happened. On the other hand, as a secondary indicator it does provide a bit of a lead on what the Dow might do next. I believe that only the S&P Futures is considered a true leading indicator. I am surprised, though, that more traders do not focus on the indices we have been discussing. I certainly watch them constantly. Have to say I am still not too sure how to use Trin as an indicator or if it is valid. I have seen traders who swear by it get hammered in trades because they ignored other indicators. It really is vital to evaluate everything in the L2 window and TOS. Focussing exclusively on just one indicator like Trin is going to lead to some very bad trades. John Hunt's posts in MBT are very astute, by the way. He knows a hell of a lot more than I do. Good trading! Rick

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