So yesterday we had #inflation data coming in the US markets in the evening, which was kindof important considering we also have a FED meeting next week
Most traders were like " #Dow will do this and #SPX will do that " and they were tracking those charts
Most traders were like " #Dow will do this and #SPX will do that " and they were tracking those charts
As I keep mentioning all the time, there are smarter people than you and me in the #markets and they have all looked at the DOW and the SPX and whatever else you guys look at and taken a position in our markets based on what they undertand will happen.
And they undertand the markets a lot more than you and I as also what they expected the US markets to do next
Remember, It is never the news which drives the markets, but what is not built in the news which does .
Other few words for it - Surprise not cooked in.
Remember, It is never the news which drives the markets, but what is not built in the news which does .
Other few words for it - Surprise not cooked in.
In #MarketProfile we call it exogenous events and when they occur they catch the smartest of the smarts off also
Which is alright, cos everybody understands that the business is one of probability and you cannot be right all the time
Which is alright, cos everybody understands that the business is one of probability and you cannot be right all the time
So late in the afternoon the India markets moved higher and surprise o surprise , the US markets also moved higher when they opened and the news was out.
Do you see a connection between the 2?
We certainly do and we know it happens all the Time
Yesterday it happened and we have seen it happen so many times when say the FED chair is speaking or some other news is there
We certainly do and we know it happens all the Time
Yesterday it happened and we have seen it happen so many times when say the FED chair is speaking or some other news is there
I have mentioned it several times before and will say it again.
The smartest traders on the planet trade right here at NSE and they are aware of much much more than you think they are.
The smartest traders on the planet trade right here at NSE and they are aware of much much more than you think they are.
What's the point , you ask?
Only this, that all that is about to happen is already on your charts.
By looking at SGX or SPX or Dow or dollar or Treasuries or anything else and thinking you are a smart ass will not make it any good for you
Only this, that all that is about to happen is already on your charts.
By looking at SGX or SPX or Dow or dollar or Treasuries or anything else and thinking you are a smart ass will not make it any good for you
Instead focus on your chart and understand what it is saying. The BIG BOYS have already taken positions and created the look of it.
It's easily telling you what can happen next provided you know how to read it.
It's easily telling you what can happen next provided you know how to read it.
And just before I close, I'll let you in on one more secret . When BIG BOYS create charts, they do not look at fancy EMA crossovers and juggle numbers from 3 to 33 to 365 with it and H+L+C/3 and TL's etc.
All that is obsolete for index trading. Works for stocks which have bigger hold periods but not indices where we turn positions around between Friday to Thursday at least 2 times
Don't get bogged down using 33 period indicators when you do not hold positions for more than 5 days
Don't get bogged down using 33 period indicators when you do not hold positions for more than 5 days
To be honest, I also do not know fully well what they look at , but this I know ,
if I track their footsteps and follow what the BIG BOY CLUB is doing, I'll be more right than wrong.
It is a stupid way of staying smart and I prefer it that way.
if I track their footsteps and follow what the BIG BOY CLUB is doing, I'll be more right than wrong.
It is a stupid way of staying smart and I prefer it that way.
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