Sell Indicators

lawrence_gilbertpga

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

hayden1059

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).

markd

@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.

Andyt

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.