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| PDF Title : | Trading for a Living |
|---|---|
| PDF Contents : | 10 Chapters (full) |
| Total Page : | 312 Pages |
| Author: | alexander elder |
| PDF Size : | 3.5 MB |
| Language : | English |
| Rights : | elder.com |
| PDF Link : | Available |
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Trading for a Living: psychology, trading tactics, money management – Book
TRIN is plotted on an inverted scale. High numbers mark the bottoms and low numbers signal market tops. TRIN hovers between 0.75 to 0.85 in neutral markets. It is less than 1.0 because the volume of advancing stocks normally exceeds the volume of declining stocks. People are normally more bullish than bearish.
TRIN cannot be used mechanically – the same readings mean different things under different market conditions. Overbought and oversold readings are lower during bear markets and higher during bull markets. For example, TRIN of 0.60 marks great bullish strength at an early stage of a bull market.
It tells you to look for every opportunity to add to long positions. The same reading of 0.60 during a rally in a bear market marks a major shorting opportunity. This is why it pays to adjust overbought and oversold lines every three months.
Trading for a Living: psychology, trading tactics, money management PDF
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