An hour into trading Iím ..
ē Eyeballing the general colouring of Market Map
ē Keeping an automated running tally on Excel of Advances/Declines in the XJO. If itís >= 2:1 in either direction I go with that flow.
ē Look whatís happening on the Futures market and see how NZ is coping.
Otherwise I stand aside and wait for any signs of a clear direction later in the day...or if there's an exceptional move in a particular stock.
Am I being too strict or too lenient with those parameters? What do others use...MAs, set % increase or decrease in XJO ?
I realise there will always be opportunities in both directions, and always the chance of something coming out of left field more than an hour into trading.
Thank you for your help.