Hi Could you tell me which indicators I should use if I am trading very short term like 5-30 mins. Please also mention the parameters. Thank You Keep Posting Depends on your style, and what you are trading. And what your methods are. There are several ways of using indicators and s/r for intraday trading that know one can tell you what to use, maybe they will tell you what they use. Some use stochastics, some MACD, some use bollinger bands, some key off daily s/r, some use the DMI,(there was a thread here on that). DO a search under these toics and search through the trading and TA forums and see what comes up.
I searched some time for intraday strategies including queries on the best forum I know for that matter (WL). All I found for single stocks was noise and random moves, no matter what indicator or combination of indicators I used (Would be very happy if someone disagrees) The picture changed completely as I started to watch at the relative difference between a stock and its benchmark. This works - simple. So here my advice: calculate relative difference and use some sort of breakout/pullback. Will make you rich
The only indicators I find work for me on intra day charts are bollinger bands (Length=20,Standard Deviation=2). Often times price will pull back to the middle of the bands during trends. One pattern I look for is where price breaks the band, pulls back, then goes back and tests the band followed by a candle reversal. The pattern is usually an ABC pattern or a Double Top\Bottom. I use this as a signal if the higher time frames are supporting the trade.
saika, your chance of getting specific parametters here is almost 0. people dont really share here. goto moneytec.com
I can give you in 2 lines a COMPLETE trading strategy used by floor traders that I bought a few years ago . But since they are some nasty people here I won't give it to all. You can PM me for that.
When you say relative difference, what do you mean? Is that the same as Relative Strength where you are looking for the stock to be stronger/ weaker than the index (S&P for example)? Cash
...please don't subject me to the crawling indignity of PMing you. What's the strategy? Je vou prie! Vous etes les plus intelligent homme que je ne jamais recontre! Votre merde ne sente pas! Tout que vous avez dit est en or! Soyez gentille! Genereux! Votre ami, le cheval qui parle.
Ha ha ha ha ha ha ha ha! You guys are too funny. You'd beg, kiss someones toes, wallow in the mud,..... what ever it takes to get someone to give you a strategy you may not have. There is nothing new under the sun! Anything you would be told you already know! Now, what was that secret methodology someone hinted about? Ha ha ha ha ha!!! NO SUCH THING!
...if Harry says he's got a secret strategy, HE'S GOT ONE! I'll kiss his ass in as many languages as I can muster to get it. If for no other reason than to code and test it and embarrass him with the results. Cher Harry, le plus intelligent homme du monde, donnez-moi votre secret! J'en ai besoin! Je ne gagne rien avec mes systemes! Grenouille! Montrez-le moi! Si non, nous allons vous abondonner auz Arabes!