Day Trading Indicator Worked Again Today!
Last week I posted an indicator that I am using for day trading. What I have noticed is that TLT leads the S&P and it's been working well for me so far.
The other day one of my readers sent me a link to a website which actually said my indicator doesn't make any "sense". This website said that I am looking for patterns where there aren't any. The website didn't say anything negative about me but it did say my method doesn't make "sense".
Let's take a look at today's chart.
Above is a 5 minute chart of today's trading in SPY and TLT. At 1:15 the S&P made a new low but TLT did NOT make a new low. This was a screaming buy signal and I went long. As you can see, I did very well using this one indicator and I didn't make "cents" I made dollars.
It just amazes me how people don't know what to write on their own blog so they decide to criticize the work of other people. That to me my friends doesn't make sense.
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![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_4.gif)
![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_4.gif)
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4 comments:
Kevin-
Screw the twat who said it doesn't make sense. You're a rockstar blogger and I speak on behalf of all your readers that you're fantastic! Thank you very much for your insights!
Please keep them coming.
Y
I am starting to understand more and more of how you trade. It is a very good lesson. I was so keyed on actually trying to read too much into the tlt indicator instead of trading with it. It also worked fairly well as a short-term (in minutes) indicator for the qqqq. I will continue to test it to see if it is correct. Thanks again for your valuable lesson. But most of all thanks for giving this to us for the best price....FREE!!!!
LOL. Thanks Yaser....
All that matters is that your system works for you. If it makes you $ who cares if it makes sense. Right now that indicator has been working because of the talking heads on TV and headlines. When the market falls big and the headlines tell us it's because of Bonds then traders begin to move off bonds. Not too long ago it was the yen (carry trade) that led the market. Not too long before that we had Oil that had been what the market followed ect.ect. For you to find a leading indicator quick and make $ off it while it works is just what a market trader should be doing. Great job kev
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