Quite awhile back, I made some posts asking for advice on intraday trading. The overwhelming consensus seemed to be that for trading intraday, it is better to ignore technical indicators, and focus on price, volume and time & sales. I've been keeping a T&S window open, but I'm confused to what I should be looking for. To you T&S junkies out there, how do you interpret the stream of numbers that goes flying by ? -T
Start cordinating what you see in your T&S window with your chart patterns (price, volume and volatility). I myself don't put more emphasis on T&S in comparison to chart reading (price, volume and volatility). I just think they work well together when you need a picture painted of what is occurring in T&S. For me...I can understand the charts without T&S info but need chart info to understand T&S info. Last of all, don't bother trying to learn or understand T&S if your not willing to use a live screen recorder of your T&S window and charts so that you can make sense of the price action in your study/review after the market is close or when your done trading for the day. You can use ET search menu to find what other traders are recommending for a screen recorder. http://www.elitetrader.com/vb/search.php?s= Mark
Thanks for the suggestion of using a screen recorder to capture the charts with what I see happening in the T&S. Thats a really good idea. During the day, it flies by so fast, I dont know what to make of it. Hopefully, someday I can get to the point where it doesnt seem like random noise ! A funny follow up to that....a fellow who screen trades next to me was looking for some equivalent to "pit noise" to incorporate into his trading. He saw me using T&S and is now using that as a substitute for "pit noise" in a pitless market. -T