everyonerich
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Hii Tanya.
Hi Tanyaz..I'm also trying hard to learn day trading..I'm from India..I use 10 days SMA and 5 days SMA, along with Bollinger Band AND MACD signals.Of course importance of pivot points and support and resistance should not be undermined ..While trading it is important if ur following 5 minutes graph of 1 minute graph ..Of course u can mark the difference the MACD signals suggests in both graph patterns..I would also like to hear from the veterans from this forum what advices they lend to us to improve our trading capability..BIJOY..INDIA
Hi Tanyaz..I'm also trying hard to learn day trading..I'm from India..I use 10 days SMA and 5 days SMA, along with Bollinger Band AND MACD signals.Of course importance of pivot points and support and resistance should not be undermined ..While trading it is important if ur following 5 minutes graph of 1 minute graph ..Of course u can mark the difference the MACD signals suggests in both graph patterns..I would also like to hear from the veterans from this forum what advices they lend to us to improve our trading capability..BIJOY..INDIA
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Thanks every one for making me feel welcome .Derumuro and Muna , would like to keep in touch with you guys .
GJ, I know what you re saying is most definitely the right way to go , I will definitey keep a very close look on the support and resistance levels .Will monitor it now , but with my confidence level I am afarid I do need an indicator as well and MACD is sort of good to me ( so far ) .
Muna , have you done a course , I am asking this to know why are you using these particular SMA.
The course I did ( from Online trading academy ) I was told to use 5 EMA .
GJ, I know what you re saying is most definitely the right way to go , I will definitey keep a very close look on the support and resistance levels .Will monitor it now , but with my confidence level I am afarid I do need an indicator as well and MACD is sort of good to me ( so far ) .
Muna , have you done a course , I am asking this to know why are you using these particular SMA.
The course I did ( from Online trading academy ) I was told to use 5 EMA .
I have a lot to learn too . But I am enjoying it and am willing to work hard .
chilltrader
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Hey Tanya, go through the Making Money Trading thread by Trader_Dante.
You'll be amazed by what you see.
You'll be amazed by what you see.
tnayz.
Hai ..tanayz....sorry for replying late..i have not done any course for trading..however i am trying hard to learn the basics of intraday trading....why i use sma instead of ema i dont have any answer..wud u tell wht are the advantages when when use ema...now a days i am using bollinger band for detecting price reversal and know the break out and breakdown points..along with bollinger band i do use MACD..signals and use 5 days sma and 10 days sma,..but obviously..pivot points .support and resistance points i do always keep in mind...wud any veteran can tell me if i m using the right techniqe..thanking u..muna
Hai ..tanayz....sorry for replying late..i have not done any course for trading..however i am trying hard to learn the basics of intraday trading....why i use sma instead of ema i dont have any answer..wud u tell wht are the advantages when when use ema...now a days i am using bollinger band for detecting price reversal and know the break out and breakdown points..along with bollinger band i do use MACD..signals and use 5 days sma and 10 days sma,..but obviously..pivot points .support and resistance points i do always keep in mind...wud any veteran can tell me if i m using the right techniqe..thanking u..muna
chilltrader
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shadowninja
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Check my sig.
Only today I read that for shorter trade periods SMA is better than EMA. I am just reading so much these days . My portfolio is not too big and I am struggling so hard to protect it . I guess at one point I would just paper trade .
I also read the thread that shadowninja has posted for me . It is so very long . I have only read the first 10 pages . It sounds really tough , specially the ratios stuff.
I better pull my socks ...this thing is going to take a lot more hard work than I anticipated .
I didn't have a good day today . Lost 2 % . I should only go for the trade if I am absolutely sure that it is the right time to go in, not just to make a little more cash.
I was following the 5 min chart but now I will paper trade the 15 min chart on the side as well.I am going to stay with MACD, the standard setting of 12, 26 and 9 day period .I find it that it sort of keeps me away from trades that are only going between small ranges .
Muna , do keep in touch , we both are newbes and sort of in the same boat . Do you think you are strong emotionaly and keep away from wrong trades .That's what I have to work on before anything else .
I read from a day trading book about a 3/ 3 method of using moving averages that is that use a moving average ( say like 5 ) and the other one should be that number multiplied by 3 , like 5 x 3 would be 15 .
Buy on the low line and sell on the high line . These are the 2 moving averages I am using . Using EMA coz that's what we were told at the on line academy .
Buy on the low line and sell on the high line . These are the 2 moving averages I am using . Using EMA coz that's what we were told at the on line academy .
Thanks Chill trader . Your sig is great shadowninja
there is so much to read , I have only read the first 10 pages , this guy is really building up the suspense .
A lot of it I don't understand but I am sure if I read this thread again and again then it will all start making sense .
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Muna , do have a look at the link that chilltrader posted for me . It is very interesting .I want to learn the price action more . It's little difficult to understand how it will work but this seems to eb the most important aspect of trading .
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