Discussion in 'Trading' started by traderkay, May 1, 2003.
your comments pleeeease.
For entry and exit's double confirmations
1. I have personally found this to be a useful tool to guage floor sentiment. Just by hearing the volume levels on the floor, one can discern whether the market is hitting resistance or support. These high decibel levels determine the so-called "meat of the market." These become your pivot points.
2. When the box gets quiet and general lassitude exists on the floor while a slow grinding price trend persists, that is one indicator for the market continuing in its general direction.
3. The voice commentator, though, will never be able to repeat the bid/ask as quickly as you'll see reflected in the Globex quotes.
4. If this is your profession (which should,by extension, be approached as a full-time business), then you need every possible edge over your competitors. This is a good tool. As for which box to use, there are several choices.
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