Best method/indicator...

Discussion in 'Trading' started by gohstrader, Jan 28, 2007.

  1. Can anyone help me determine the best way to tell in the first 10 minutes of market open which way the market is going? Do you watch the Naz futures or certain stocks? The Tick or Trin or just a favorite indicator?

  2. sure I can help you in that regard

    in 10 minutes of market open watch the indicator RSI

    if its point up, you go short

    if its pointing down, you go short

    if its pointing flat, you go long

    this helped me for 10 years

    ok good luck :cool:
  3. 'er ... that's not very specific, ex_broker ... what kind of chart and period for RSI?


    NASDAQ Composite
    Chart Time: 2 hours
    Bars: 1-minute candlesticks
    RSI: 9 periods

    ??? I'm an amateur, but I think you'd need some more information to properly set up your charts .....
  4. rcj


    Not to worry.

    You dont need to wait till 10 min after the open to tell what's gonna happen.

    See, here's what ya do. Just ck out what BlueSreek has to say about direction, etc. He often does his analysis after 11pm the night before. When Blue is a bull go short and when he gets bearish go long quick.
  5. notouch


    When the blue line crosses the red line you pull the trigger. IT REALLY IS THAT SIMPLE.
  6. my post on this thread is a joke
    like many others here
  7. 2 MIN MACD will give you direction and momentum at any given moment, slight lag is the price you pay for such accuracy but you can use a 10 period MA as a heads up
  8. Thanks alot for the info. I appreciate it. Some day I will return the favor to some other newbie, but I''ll try to be as sincere as possible.

  9. Overall direction of the market is not THAT important, it certainly helps, but sometimes I'm so focused on a group of stocks acting well that I'll be pulling the trigger left and right and be seriously surprised when I realize the market is down a lot.
    In terms of the big picture most of the action takes place in the first half hour unfortunately but this can be used to your advantage because there is a 10:00 am swing time when the market usually reassess itself as well as a 3:00-3:30 swing time. These create nice lulls when you can take a shot at a hot stock that may have pulled in.... The lunch hour can also be sleepy and is a good buying time. So basically if you start UP futures- open up and make it through 10:00 am you have a good chance of pulling in at lunch and then making the decisive turn at the end of the day. If market reaccelerates into the close hold all positions for more fun the next day. If the market sells off after 3:00 the next day will most likely open down... then you look for your 10:00 turn hopefully to the upside! It's all a cycle.
  10. nkhoi

    nkhoi Moderator

    wait 5 more minutes then you have 15m range, this range give you early direction, in range = chop, above range = up, below range = down until some new event waltzs in
    #10     Jan 29, 2007