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Strategies & Market Trends : My Day Trading Strategy -- Ignore unavailable to you. Want to Upgrade?

To: smh who wrote (37)	3/15/2009 2:07:10 AM
From: zigzagman	Read Replies (1) \| Respond to of 42

Hi 'smh'... I taught myself how to day trade...I started out as a swing trader, but got tired of watching stocks go up and down over a period of days and weeks...The fluctuations of my account value were disturbing to say the least...Plus I got tired of having a nice profit entirely wiped out when bad news for the stock I was holding came out, and would wake up to a large loss the next day... That's when my interest in day trading started...I figured if I was out by the end of every session, I could do better in the end...Of course, if the Futures are way up in pre-market the next day I would also miss out on some gains too... I learned how to day trade by watching the market every day from the opening bell to the closing bell...I noticed that there were patterns in the ebb and flow of the intraday moves of the market that gave quick trading opportunities to make some good money... I basically applied my swing trading strategy that used the daily, weekly, and monthly charts to the 1, 5, 15 minute, and hourly charts...And as it turned out, my strategy works for charts of all time frames...That's because it's a very simple strategy that uses only a few of the technical indicators I use on my swing trading charts... It took me a few years to identify the technical indicators that give correct signals the quickest, and to take the slower indicators off my day trading charts... I now only use four technical indicators in my day trading strategy that give my buy and sell signals...Plus, I have three "money" indicators that tell me if a stock has more buyers or sellers, but they aren't absolutely necessary to learn in order for my strategy to work... I hope this answers your question... Happy Trading, zigzagman