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day trading

Discussion in 'General Forex Talk' started by mick, Sep 5, 2008.

  1. mick

    mick Private

    Jul 13, 2008
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    I will like to know if it existe a good system or way to trade intraday.

    Are they some free indicators and how to set it up that can be use, that
    really show the trend whitout to much lagging and trigger entry and exit ?

    Is it better to use the 5M or 15M, 1H or 4H.

    thank you,
  2. ciptadi99

    ciptadi99 Recruit

    Aug 16, 2008
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    I like Parabolic SAR at M5 best..
  3. Agent86

    Agent86 Sergeant

    Sep 9, 2008
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    Trend indicators


    There are just too many trend indicators that can be used differently.

    Stochastics,CCI,MACD, and just different moving average lines etc.

    Some people use indicators for different things.
    Dual average lines crosses, 7 period crossing 14 period, either simple moving or expedential moving average lines.

    I personally like a combo of Stochastics 20,10,10 settings, CCI standard, and MACD standard,
    Time frames are all good, but depends on your trading style.

    If you want to take a trade or 2 per day or something then you want smaller time frames most likely 5min and 15min charts.

    But to just look at trend quickly you could just show an up or down trend just by the direction of the line going either up or down.
    But on 5min charts it changes quickly so you could use 50 or 100 period sma line to see if it's moving up, or moving down or perhaps changing from moving down to bending and starting to move up.
    It's one way, but the best way is to analyze on larger times first starting with daily charts, then 4hr then 1hr then 15, then perhaps 5 min charts.
    Because the trend can be conflicting in all those time frames so it's good to get a feel of what the trend is on all those times.

    I know this may not be much help but I would say some sort of moving average line is probably the best automated trend indicator, but not as good as drawing trendlines which probably won't help you if your looking for automation.
    Any demo trading account should have these indicators.
    Anyhow happy trading hope this helps.
  4. martin01

    martin01 Banned

    Oct 14, 2008
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    Here is a list of some the key indicators you can use:

    Price Chart (Candlestick, EquiVolume, Point and Figure, TICK/Price/Volume based)
    Relative Price - stochRSI (RSI and stochastics of RSI combined)
    Volume - Price Volume Trend or Money Flow and volume bars
    Statistics - Bollinger Bands
    Sentiments - VIX, Put/Call Ratio, New High/Low Ratio
    Market Breadth - TRIN, A/D Line to gauge issues/volume tradi in NYSE
    Market Strength - TIKI, TICK to gauge if traders are taking out the bids or the asks on NYSE
    Pivots - Based on ratio of previous day/week/month - as a aid in placing entries/exits
    Related Market Correlation - Percent change chart of ES, NQ, ER, YM. ER and NQ typically lead
    Market Leaders - Key stocks (leaders) from all major sectors of the index traded

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