On the one hand this is a thread seeking value, offering none. So I apologize in advance. On the other hand, it might help other noobs here, not just me. And to repeat, I’m new to trading , not to investing. I just need a place where I can ask what might be elementary questions without starting a gazillion new threads. So….
Can someone explain to me in plain English what the difference is between RSI and RS? I’ve always looked at RS, from what I’ve gleaned reading IBD. But I don’t recall IBD ever mentioning RSI. And yet I see traders (one that I subscribe to his service) use RSI all the time.
In the thread about a book on Profitable Trading Strategies, there is a reference to NQ. What is that?
What is “discretionary trading”? Before I retired, as a financial advisor, it meant to me, I had discretion and managed accounts without the ok from the client in each trade. but I’m guessing it means something different here. Is it trading in gut feel, as opposed to rules based trading? That’s my guess, but I’d be surprised if that’s actually a thing among professional traders.
NQ is the CME symbol for the Nasdaq 100 future - https://www.cmegroup.com/markets/equities/nasdaq/e-mini-nasdaq-100.html