TRIN or TICK...the HUGE Question...very serious and important..please read!!

Quote from increasenow:

thanks everyone for the great posts...I will now focus on the TICK...wow, very exciting to look at and examine the potentional...thanks
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Only focus on one thing if you think the market always does the same thing. (HINT, it dosen't)

Reality is it dosen't and you'll end up losing faith on day 2 when the market shifts gears on you. You need to really be aware of the whole picture and focus mainly on price action and volume.
Internals play their role as well but its part of the bigger picture.
I'm finding this all out the hard way, which is the only way your're going to learn. People won't give you the grail, you'll have to find it. Because the grail is knowing what works for your mentality and sticking to what works for you IMO.

Good luck
 
Quote from mcichocki:

focus mainly on price action and volume
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thanks for the input...question, can you or anyone explain the whole "volume" deal?...okay, look at the ES...5 minute chart and the volume with it...what is it telling you...we see the same volume and the ES can go up or down...thanks in advance
 
Quote from increasenow:

thanks for the input...question, can you or anyone explain the whole "volume" deal?...okay, look at the ES...5 minute chart and the volume with it...what is it telling you...we see the same volume and the ES can go up or down...thanks in advance
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If you're not seasoned I'd stay away from the ES. It's more fluid but the fills with the deeper DOM could lead to slippage IMO. Pros run the ES and it's hard to go from street ball to the NFL in one swoop. ;)

At $5 per tick I am new and use the YM. It fits my small risk tolerance though it does move kind of jerky sometimes.

You need to study candlesticks AND volume. I need tons more screen time myself but the tape is also pure price action and very helpful.

The reality is your job here is only to understand supply and demand and read the market sentiment. Get in the mind of the market participants. This can be done best by using the above tools.
If you use indicators be sure it's what the majority of people use because again you want to go with the market, never try to fight the market.
 
TRIN gives you Bullish or Bearish reading (as well as when it is choppy and the TICK is not as useful). Why use just one when you can use both! If I had to choose I would use TRIN so I know when the market is choppy and set-ups are likely to fail.
 
2008.07.18-DJI_TRIN-5Min.jpg


Get ready...somethings gotta give. 2 days now TRIN has been moving in tandem to the DJI. These are meant to be inverse to one another so divergence (or technically absence of divergence) is horribly blatant but with no direction. Looks like the DJI may have a double top since TRIN failed to make a new low with the retest.

Thoughts???

Note: I don't do much with internals other than glance and then analyze EOD. This caught my eye the last 2 nights.
 
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