Friday, May 09, 2008

Friday - Something New

Over the next few weeks I'll be changing the format of the blog. To those ends I am posting 1 of the 4 screens that I watch in real time all day. (click to enlarge). I have another screen with identical components with the exception that the far left and far right panels display stocks other than the Qs and the middle pane trading windows reflect those other charts.
The far left and far right charts are formatted the same, with the exception that the Left is tailed by the TICK at the bottom and the Right is tailed by the IWM at the bottom.
The technical indicators are defined for in each of the chart panes.
Left is set to 2 minute bars, right is set to 5 minute bars. . .although I can instantly toggle to other time frames for confirmation purposes, and frequently do.
What the indicators mean is what I've spent 20 years learning.
The middle of the screen is composed of an upper and lower trading window - upper displays level 2 options and lower displays actual Qs bid/ask prices.
The NYAD sits front and center above the lower trading window as I consider it critical to my trading triggers.
The two indicators in the center of the middle pane are really pulse meters for the market.
The left vertical scrolling indicator shows new intraday highs and lows for the NYSE and NAZ, and the daily high or low count. When the scroller is running fast and all green. . .it's time to BUY. When the scroller is running fast and red. . .it's time to SELL.
The bigger scrolling indicator on the right with the horizontal bars showing AAPL to XLF is a user programmable algorithm that Schwab calls the Dynamic Ticker, and basically displays the net asset value of of 11 items that I have chosen to stick in the watch list. The horizontal bars pivot off a zero value in the center and display the amplitude of the buying or selling in each item on the watch list on a TICK basis. When these all turn red and hit 80-100%, you'd better be short.
These 2 indicators are absolutely invaluable for determining short term changes in buying and selling pressure.
I'll make additional screen posts on subsequent Fridays in an effort to enable my gentle readers to understand how I trade and my attitude about what to trade.

Finally, a link to Dr. Brett that's worth a close look. Post #10 by your trading screen. It's just a few words but a truly invaluable insight (what I call a nugget).

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