I'm a trader and I trade what moves. I need volatility to make money, so I go where the action is. In the pit, we traded "our" market. We belonged to a "crowd" - guys who I stood next to every day and against whom I competed. If our pit had a quiet day, that was reflected in my earnings.
Moving upstairs, the world became my oyster again and I could trade what was moving.
I am an advocate of 1 chart and 1 market until a trader masters his craft. After that, be a trader. Trade. Trade what is moving.
Today I'm showing my Light Crude action. A good day, whether you traded the London or U.S. morning.
Hi EL,
ReplyDeleteA while back you mentioned you were looking at Volume Strips. What did you think? I've been in touch with Steidlmayer Software after seeing the video but didn't get a reply.
Is it similar to the Volume at Price profile on MD Trader and some other DOM's?
Thanks,
Nick
Anon 12:31. Volume Strips are nothing new although the VS app does present the information diffeently. If you are using MarketDelta then you have that and a lot more.
ReplyDeleteWhat is the best way to determine where the action is?
ReplyDeleteAnon 11:31, I usually look at what happened overnight. Another thing is what there is going on in the news. When I hear the word OIL a lot, I pay attention to CL. hen it's EUROPE, the Euro is what I pay attention to.
ReplyDeleteIs it possible to get the chart definition for this chart in Trade Station ... thank you Sir.
ReplyDelete