Day Trading Strategy
5 Minute Day Strategy Guide
Day Traders
This group of stock day trader holds on to their stock trade transactions for few hours but not more than a day. With the objective of making quite a number of pips: 30 - 100 pips.
Day trader trading 15 minute chart timeframe wants to go long, checks 1 hour chart time frame, which looks like the one below, since 1 hour chart timeframe shows market trend is going up, then decides from this chart technical analysis it's okay to buy.
5 Minute Day Strategy PDF - 15 Minute Day Strategy - Indices 15 Minute Day Trading Strategy
Indices day trader traders using technical analysis use stock charts to try & attempt to predict the movement of stock trading price on the stock charts.
Trading Day traders will sometimes use two or more chart time frames so as to figure out the long term trend & short term trend.
How Do You Define a Price Trend for Day Trading
Using a stock system that has 3 indicators - MA Cross over System, RSI and MACD & using simple guidelines to define the market trend. The trading rules are:
Up-ward Trend
Both MAs Moving Up
RSI Indicator above 50 Mark
MACD Above Center Line
Downward Trend
Both MAs Moving Down
RSI Indicator below 50 Mark
MACD Below Centerline
Multiple charts time frames analysis equals using two time frames to trade stock indices - a shorter time frame used for trading and a longer chart timeframe to check the trend - chart time frames that you select for trading stock trading price action with will depend on the type of trader you are: for day traders the chart timeframes used for trading will be example of 15 minutes chart time frame & 1 hour chart timeframe.
Since it's always good to follow the trend when stock Day Trading, in Multiple Time Frame Analysis, the longer 1 H time frame gives us the direction of the long term trend when Day trading using the 15 Minutes Chart Time Frame.