Early in the session, soybeans are volatile. My trades this morning are marked with the arcs connected by dotted lines. Short trades are a necessity, but are very profitable. (You can open the chart in another window or tab to see a larger version.) That first peak reached within one tick of the all-time high price for soybeans. This bull is alive and well!
Imagine trying to trade this on the lower chart, where the 3 minute chart shows on the left. It would be almost impossible! Tick charts are a necessity for me because they count orders flowing through the exchange rather than counting arbitrarily by time. It makes sense to count orders rather than minutes, doesn't it?
Friday, February 8, 2008
Off to The Races!
