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Learn how to Day Trade the Stock Market
By Zigzag Man
There are two kinds of Day Trading: The first is called "Scalping", which entails entering very short term trades with a large amount of shares, hoping for a relatively small movement in the price. Most Scalping trades usually last no more than five or ten minutes, and can give you a few hundred dollars or more in net profits. These kinds of trades are usually done primarily using the one-minute chart, with help from the five-minute chart. The other style of Day Trading can last much longer. This kind of Day Trade can last as long as an hour, or even a few hours if it goes very well. These kind of trades primarily use the five-minute chart, but I also use the fifteen-minute and the hourly charts too. Day Trading is a very exciting and fast paced way to trade the Stock Market. It is also the fastest way to learn all about Charts and Technical Indicators in the shortest amount of time. Due to the extreme volatility we've seen in the market in 2008, Day Trading is the safest and most profitable way to trade these days. Day Trading requires a solid understanding of reading Candlestick Charts and just a few of the Technical Indicators that are included with them. The Technical Indicators will give you very clear Buy and Sell Signals many times a trading session. You must also know how to read Time & Sales and Level 2 windows. There are just a few Technical Indicators necessary for my Day Trading strategy to work. The Commodity Channel Index (CCI) gives very clear and accurate Buy and Sell Signals, and I use Stochastics (STO) to confirm them. Bollinger Bands are also very important in my strategy, and Volume is too. The last two Indicators I use are the 5 Simple Moving Average (5-SMA) and the 15 Simple Moving Average (15-SMA) which also give good Buy or Sell Signals. The chart of TSO below shows how I setup my charts for Day Trading. I also use three extra Technical Indicators known as the Money Indicators. They basically show if there are more Buyers or Sellers. The dark green one at the top is Chaikin Money Flow (CMF), the yellow line is On Balance Volume (OBV), and the light blue one is the Accumulation/Distribution (A/D) line. In order for my strategy to work, you don't really need to learn these three additional Technical Indicators until after you have mastered the CCI, Stochastics, Bollinger Bands, and the two Moving Averages.
This intel first appeared on: http://www.market-master.net/daytrade.html
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The copyright for this content entitled "Learn how to Day Trade the Stock Market" has been specified by the contributor as:
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This intel was contributed by zigzagman
zigzagman
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May, 2012
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