They were all NYSE. I gave up figuring out why. I stay with TS. After staring at them for almost 3 hours tick by tick this morning. I understand that Trend of the $trin is important, but when I saw the trin started trending, I was then too late to get in with the trend. I forgot that I should look for all the pieces of puzzles....The TRIN isn't a crystal ball... Tick in the meantime, the 1000 level and -1000 level are great indication to take profits or take reversal signal (with waves). When they trade in the middle. (600---- -500) are a bit confusing to read. I would keep practicing reading them. I don't know why they look so subtle to me. They shouldn;t be that hard to read!!
Now, looking at the chart. The early morning long could be the trade I would have taken. 9:00 double top reversal trade could be hard for me to take. Because it's against the prevailing trend. Even though looks like a place for market to pullback. I added 200 ma to my chart. I did horrible yesterday. So horrible even I myself don't know what I was doing.... Should a small account like me stay away from 9:00-11:00? Look at the brightside, if I could be a good sniper day trading in mini account, I probably could shoot anything eventually be a lady double7.
I am up for the interview! I can be relocated in Asia with no problem! Let me know if there is an opening. It will be so cool to work for a cool boss like you and trade Dow at night in Asia! haha! I couldn't make it to NYC this Sept. But I will probably go to HK in AUG.
Hi Matcha, Your Trade D was beautiful. I had a similar SHORT trade at that spot but pulled the trigger a bit slow 'cause I got tangled up in a bad long trade just before that set up. I have also added the TRIN and the TICK (5 min charts) to my tracking. I made 2 small charts for them. I use it for QUICK reference to get an idea of whether the current moment is bullish, bearish or neutral (just like Boli said). I also use Boli's data and added horizontal lines on the charts to denote the bullish and bearish points. I color coded them, it helps for a quick check on whether the current state is above of below the lines. Thanks Boli for the data: TRIN: 2.00 - a thick red horizontal line for super bearish, Short trades only 1.50 - a thin red horizontal line for bearish 0.70 - a thin green horizontal line for bullish 0.50 - a thick green horizontal line for super bullish, Long trades only I try to trade mainly long or short accordingly and if the TRIN is between 0.7 to 1.5, long or short will be considered. I also look at the slope of the TRIN data to see where we are going. TICK: 1000 - a thick red horizontal line for super bullish, reversal a hi prob. -800 - a thick green horizontal line for super bearish, reversal a hi prob. I also inserted 2 white horizontal lines (at 600 and -500). Anything in between is in the neutral zone - no particular attention required except may be the direction it's heading. Once again, you did a great job in managing your stops today to nail $155 with a 50% win rate. I am still working on my stops. I know it is as important as letting the profit runs. Have a great Friday! --po
Well said Boli on the DT/DB!!!!! I shall remember what you said about the few bullets I have and be a choosy snipper before I pull the trigger. --po
Hi ~~~, Thanks for the vote of confidence and the invitation, but I couldn't make it to NYC in Sept. either --po
Thanks NoDoji for the excellent advice. I shall hold on to this wonderful KEY to wait very very PATIENTLY for my next PRIME setup after a loss. --po