New Members: Be sure to confirm your email address by clicking on the link that was sent to your email inbox. You will not be able to post messages until you click that link.

Sell Indicators

I am a day trader with average trades lasting 1 to 3 hours. I use 5 and 10 minute charts with MACD and Slow Stochastics. I also use Bollenger Bands to look for strength of trend.
My question is simple. I need an indicator(s) that will aid me in my exiting positions. I find I have been leaving a lot, 40 to 50%, on the table.
I appreciate your time, so any help would be great.

Lawrence Gilbert

Comments

  • I'll offer my two cents. Instead of an indicator, you could set a $ goal per trade. It needs to be realistic, so the number of shares you bought will have a big influence on the trade. That could also be a % of profit basis which makes more sense with stock prices varying considerably.
    You don't say anything about losing trades, very common in day trading. You must have a stop in place. How do you determine that? A rule of thumb, I believe, is to let your profit basis be close to your stop loss basis and that contributes to a balanced trading approach.
    I like a 3 exponential MA for close tracking, you might experiment with the exponential MA to find a cross for an exit. Fast Stochastics is another good one (thanks to Markd).
  • markdmarkd ✭✭✭
    @hayden1059 , thanks for the credit on Fast Stochastics. I just want to point out to @lawrence_gilbertpga , that I have not tested Fast Stochastics in an intraday time frame, so I don't have an opinion on how helpful it might be.
  • Hi

    Just found this post and I've the following questions:

    1. What are the parameters for MACD and Slow Stochastics for day-trading ? MACD (12,26,9) and Slow Stochastic (14,3) ?

    2. What are the best stocks to day-trade ? The most active issues ?

    Thanks.
Sign In or Register to comment.