Anybody Else Use This?

Discussion in 'Technical Analysis' started by antincedo, Sep 19, 2008.

  1. ive been trading with a 5min chart with the major indices on another 5 minutes chart...

    before trading my strategy i make sure that i only trade with the market. if its up or green candle i will go long

    major indices showing me red i go short

    so anyways.. ive noticed the major indices seem to have major effect on practically every stock. does anybody else use the major indices as a major indicator?

  2. That is a really good idea.
  3. well it has been working for me i dont know why i dont hear about it here on ET
  4. perr


    hey antincedo,

    I don't want to break this to you, but we all

    do this.

    Good luck on your next one.

    trade well
  5. LOL well i guess i figured it couldnt have been too much of a secret. how much do you base your entry/exit on the indices though?
  6. perr



    Don't change anything there.

    Always keep that one on your screen.

    trade well
  7. perr



    the same way, just like your doing.

    indices showing sell, you go short etc.

    It is one of your Major Indicator!!!! (or it should be)

    Base your entry/exit on it.

  8. thanx for the confirmation
  9. perr



    Same thing with the Dow.

    If you know where the Dow is going

    you'll know where everything is going!

    The World that is. (Up Side or Down)

    trade well

    (easy game when you get it) you will.
    You came up with the first thing you need know when trading.
  10. Thats the right way to be ready to trade--know the direction and then you work on tweaking your entries and exits.

    good luck bro.
    #10     Sep 19, 2008