Intraday Indicators

[trader9]

Hi!
I have recently started day trading and I'am gathering all the help I will need.
Could someone guide me to some relaible intraday indicators.
I undertand day trading profitably requires more than mere technical indicators but they can certainly help.

I would request Traderji especially to help me.
Thanx!

Regards!

 

[minukrishna]

hi trader9,
I want to caution you on day trading.It involves a huge amount of risk and the returns always tend to be low.Thereby reflecting a mismatch in the risk-reward ratio.
I have been day trading for quite a long time but to only end up in losses.My sincere advise is that you must use technical analysis to profit from delivery based trading.The shorter the time frame lesser will be the profits.Position trading is always rewarding as it helps to avoid the choppy moves of intraday.

 

[sh50]

The normal indicators do not work in intraday and intraday trading is like waiting for a full toss to hit the ball when it comes. Risk-reward wise, it is counterproductive.

 

[hiteshagarwal_lp]

Hi!
I have recently started day trading and I'am gathering all the help I will need.
Could someone guide me to some relaible intraday indicators.
I undertand day trading profitably requires more than mere technical indicators but they can certainly help.

I would request Traderji especially to help me.
Thanx!

Regards!

I think I can help you but please educate me on the follwing;

Which technical software do you use & also from which data vendor do you get the intraday prices, and please tell me the amount of delay in the prices from the live market to your technical software.

 

[Traderji]

I think I can help you but please educate me on the follwing;

Which technical software do you use & also from which data vendor do you get the intraday prices, and please tell me the amount of delay in the prices from the live market to your technical software.

Hello hiteshagarwal_lp,

I do not see any reason why trader9 should provide you with this information as it has no relevence to the question he/she is asking.

If your participation in this forum is with the intention to do a market survey for your employer then I will not allow that.

 

[trader9]

Hi!
This is how I presently day trade:

I track the intraday trend, the opening gap, for the first 30-45 minutes and then take positions in selective scrips.
I risk on an average 4/5% of my margin account money on each trade.
I use stop loss strictly.
Win/Loss trades ratio is low but I am profiitable at the end of most trading days.
I try to keep it simple as possible.
I am thinking of including tech indicators.

As for the info asked by hiteshagarwal_lp, I agree with Traderji and so I refuse to answer his 'marketing survey'.

Thanx!
trader9

 

[hiteshagarwal_lp]

Hi!
This is how I presently day trade:

I track the intraday trend, the opening gap, for the first 30-45 minutes and then take positions in selective scrips.
I risk on an average 4/5% of my margin account money on each trade.
I use stop loss strictly.
Win/Loss trades ratio is low but I am profiitable at the end of most trading days.
I try to keep it simple as possible.
I am thinking of including tech indicators.

As for the info asked by hiteshagarwal_lp, I agree with Traderji and so I refuse to answer his 'marketing survey'.

Thanx!
trader9

Hey guys,

I don't think I asked it for any kind of market survey for my company, pls don't mistake me. Just to help I needed this. If you trust then please tell me and I will try my best to help to my knowledge. Regarding the details traderji told, for technical indicators why do not I need the softwares name he/she is using traderji, please tell me without that how can I tell which indicator is the best. I currently use metastock 8.0 for intraday.

Bye.

 

[jaideep]

Trader 9 my friend,

Believe me when I tell you that intra-day is for professionals & inside-men; if you know what I mean. Assuming you are an amateur trader like most of us in this forum, I would strongly go along with the others who are dissuading you from day trading. I have personally burnt my fingers & lost a lot of my capital. Just a few good days are washed out by so many bad days. MetaStock 8.0 & 9.0 & ...... etc. sound so good but are for only the very informed traders, not amateurs. Believe me if you can.

So, go for delivery trades, even if it is for very short term. Makes it safer to predict price movements & more-or-less eliminates all kinds of market idiosyncrisies. Risk-reward ratio is definitely far better in short term delivery trades. Don't get carried away by any number of so-called advisors & web-site analysts. Stick to this forum, it could be your safe-haven.

Happy short-term trading TRADER 9.

 

[CreditViolet]

Just to answer the main question
Main weapon -Slow stochastic 18
Confirmatory -RSI 14
MACD
Volume ofcourse

These are indicators for confirmation into breakout or inside bar trading.

Personally I very much like Bill Williams alligators and squat.fade,fake etx

 

[trader9]

This is in reply to jaideep (sorry for the late reply)

Thanks for the advice and I appreciate your concern.
But trust me I do not plan to get addicted to day trading as such.
Nor do I intend to day trade every single day.
My main focus, as I have decided before even starting to day trade, is on short term trading (as you have rightly said)
I do make small profits from day trade to supplement and support my short term/long term positions in stock market.
I don't have the time to sit in front of the terminal and trade heaviliy.
I am somehow trying to find a balance between trading and investing with a bias towards delivery trades.

Thank you once again!
(I consider myself fortunate to have found a forum as this one where the members intend to help each other)
Regards!