Something that helped my daytrading success was a feature I found on another trading platform. It was a tick-by-tick chart that showed ticker symbols, in real time, that were making new highs or new lows for the day. Essentially, it would show overall market sentiment, breadth, and direction in real time. When new daily highs are printing rapidly in the market, then generally, it is safe to be long on a day trade. When new daily lows are printing, then it is safe to be short. Moomoo should consider adding this feature to their trading platform or include it somehow in the AI Market Monitor. It is a very valuable tool for a daytrader.
Asphen : I'm thankful that though price action and TA, I was able to see and chart the wave with the rally from mid Mar, though many crash callers were touting mother of all crashes.
SpyderCall OP Asphen : Right. usually, the most bearish news is near bottoms in the market. With news, it is smart to only follow data and not opinions.
Sometimes the news is only there to provide volatility. Some headlines are released simply to instigate buyers when insiders need to sell or vise versa. It can be difficult for insiders to buy or sell millions of shares without causing a reaction in the markets. So, they often use the media to bring in liquidity
MoneyComesMoneyStays : While everyone was saying a recession is coming, even though most are saying it for political reasons for the last 3+ years, I kept buying and I'm now in the green. I'll continue to buy and buy extra if a dip comes.
SpyderCall OP MoneyComesMoneyStays : The bigger the dip, the bigger the rebound.
Asphen SpyderCall OP : Well said, sir. Market is manipulated and often any news we hear are already baked in. we need to see what's coming up 6 to 9months down the road as that will determine the market.
SpyderCall OP Asphen : Right. Ive heard some investors say "you must price in the future." This might be apparent currently as it appears that the market was pricing in rate cuts. im still not convinced in the rate cuts for now. im still going to follow the trend though. if the market is going up then Im looking for long positions. if the market is going down then I search for short positions. Of course it all depends on the time frame I am looking at.
Moomoo Lily : Hi mooer, thank you for your advice.The advice has been forwarded to the related team. @MoneyBabyy @ShinePlease take a look here. Thank you for your support.
SpyderCall OP Moomoo Lily : Awesome! thank you
Asphen SpyderCall OP : yes. priced in is always used but be careful with that. it is another manipulation tactic by the market makers.
Lu Lulu SpyderCall OP : Yes, interest rate cuts probably won't happen next year because the economy is so bad that the Fed can't cut interest rates
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