Among the trading tools that I use, Trade-Ideas Pro [1]is right up there among the most important. The folks who run Trade-Ideas are dedicated to providing an excellent product at an affordable price, while making continual improvements and enhancements.
Every morning before the market opens, I fire up my Trade-Ideas Pro and it couldn’t be simpler. I load a couple of watch lists and in about 20 seconds I am ready to trade. I run a few Trade-Ideas windows for different purposes and timeframes, and throughout the day T-I provides me with not only new trade ideas (no wonder they named it that!), but it gives me excellent information regarding the strength or weakness of my existing trades, allowing me to better determine my exits.
One of my favorite features among the dozens offered is “Relative Volume.” It’s important for me to be able to monitor Relative Volume as a new swing trading [2] position is hitting highs so that I can see just how strong a stock may be. Hitting highs is one thing, but a stock hitting highs on something like 5.4 times the normal volume for that time of day tells me I should stay in because of the increased activity and interest in that stock. A lower reading like 1.2 Relative Volume says that volume is only 20% higher for that time of day than normal. I view a reading like that as a signal that the stock may not make a lasting move, and that it may be time to take some profits off the table. The Relative Volume is a tremendous help to me when determining whether I should expect a continued move or if it’s time for me to move on.
To my friends at Trade-Ideas, keep up the great work on the excellent trading product! To everyone else, if you aren’t using Trade-Ideas Pro, you should be!
[3]
Jeff White
President, The Stock Bandit, Inc.
www.TheStockBandit.com [2]