I'm trading abit with RSI but mostly feel. What's your bread and butter indicator and what chart settings do you use? Trigger points? I'm trying to expand technicals and get a tiny bit (or a lot more) understanding of trading this beast. I was seeing oversold on initial run up and got short before covering like a dummy...stopped out. These big movements tend to be the hardest to day trade. I did pretty good today but with this huge swing I'm not happy with performance.
Mike: Stoch's and RSI are the bulwark of my intraday indicatores. Plus using trend-lines and such. You take those then juxtapose them against L2 and real-time last sales "tickers" and it makes for a system (or part of one) that has proven useful. Meanwhile so far the Bid is again being yanked north, south and all around. Just went from ~$24.60 to (now) $24.35 in a relative eyeblink. Now .32.
I'm thinking we may see a very short pull back before the conference...Ill be ready to jump in there. I guess we will see... Bid $24.44. Maybe it will never pull back but I certainly think we go higher next week.
Never day trade.This has been the easiest money you will ever make. Buy, and sit on it until we reach a reasonable price. I said this last year, and it's still true. If you don't have both calls and stock from last year you were giving money away. It will be over $30 in a few months.
First, I've made a great living "Daty Trading" for over 20 years including around 6 years as a market maker in Yahoo. How I bought and sold then was far different than I trade now since I obviously don't have the same tools or order flow. I'm not asking anyone's view I regards to the viability of day trading. I'm simply open to anything and everything that could help me become a better one.