NQ Today

[traderken]

I caught a nice NQ trade on the 3 min today. Good R/R of 2.25, entered long at 1663.50, moved my stop a little closer when a sell signal popped up but the MA was still trending up so I stuck with it. Still climbing now, past the first target and doing well.

I tried to attach a screenshot but haven't quite perfected it yet. I also haven't been able to figure how to load $TRIN on TS yet so if anyone has any counsel there I would appreciate it.

Ken

[Tony Beckwith]

Yes, a real beauty Ken - well done!

Tony.

[traderken]

Thanks, any insight on how to load $TRIN??

Ken

[Matt Bowen]

Hi Ken,

I'll second Tony on that one...GREAT trade, glad to see you catch it. I was on the phone with a customer when the alert went off and she was able to catch this trade as well. Good for you...

All the best,

-Matt

[Tony Beckwith]

Ken

If you can hang on for Steve (back this Monday 13th Feb) , I'd like him to advise on the TRIN as an eld file in TS8 please...much appreciated.

Thanks

Tony

[traderken]

I'll certainly hang on. I was able to get it set up in a separate window, and am getting value from it. However, I cannot set it up as nicely as the eSignal one.

Thanks, Ken

[Tony Beckwith]

Just to show that NO indicator is 100% guaranteed....this ES H6 5min long unfolded beautifully yesterday - against a high and red TRIN.

As traders, we know this happens (annoying though it is!) and have to live with it...

[mascurioso]

Hi Tony,

I think your example underscores another simple but important point, i.e., that it's less important what the TRIN reading is at any given point than what it is relative to where it has been. Most traders hear, and trade, by the axiom of "TRIN less than 1.0, buy and initiate only longs; TRIN greater than 1.0, sell, and initiate only shorts." This is a good rule of thumb, one that usually works, but I think the relative trend of the TRIN is what's more important. This kind of thinking comes in handy when the trend of the indicator, in this case the TRIN, is behaving differently than the only thing that ultimately matters, which is price. I always try to remember that there are actual PEOPLE behind these numbers, and I'm always curious when they're acting differently than they have in the past. Looking at your example chart, from about 10.30 to 11.30, the price was slowly and choppily rising despite the fact that the TRIN was making or trying to make new highs. This is a tell that "something's up". After 11.30, regardless of how high the TRIN reading was above 1.0, it was making new lows relative to where it had been. That was a signal worth paying attention to.

Regards,

Mas

[tombtrader]

Hi Mascusioso, right on.

Divergence!

[Steve Griffiths]

Hi,

Agreed, I also look at the "slope" of the $TRIN. This allows you to capture trades like the one in this example..........

Steve