September 28, '04. Be the trend...
Tuesday: Catching the early trend is the single most important focus of the day for floor traders. Nothing has more meaning and importance to their business. Some say that floor traders have an advantage over those working from their screens when trying discern early direction. They have noise, paper order flow coming into the pit, an immediate source of news and associated rumors, and an easily kept eye on the best traders around. But those of us trading off the floor from our screens have an advantage floor traders don't--if we would only learn to use it correctly. We have charts, and and a rule-based approach to go with them. What may seem like chaos to the inexperienced is like a piece of music when you learn the notes. The sell signal for today's downtrend was just such a sweet harmonic chord. How can all that pit noise compare!? Come join our trading room at daytradingmethods.com. Hear the music...be the trend.