for day trading googl amzn and spx

fadytheman

hello team, anyone can help me share best chart and indicators to use for day trading googl/amzn/sxp. thanks a lot

markd

Pick one and try it out. A lot of people like MACD. Others like Stochastics. Some people like MA crossovers. At least one user here on the board likes KAMA (Kaufman Adaptive Moving Averages). Read up in Chart School and do some research on the intraday charts to see how they work for you. Nothing works all the time in all markets. Indicators are just mathematical manipulations of price data. A ranging market affects those calculations differently from a trending market, so the usefulness of the signals will not be consistent.

Quill

fadytheman,

re: Freestockcharts dot com. Can not be used with Google Chrome.

There are three ways to do what you like to do as a thought.

1. 20/200 ema 5-minute chart. Buy and sell per the yellow line. View ESRT a forever stock as an example.

Some people like to use the Candle Stix, others like to use the Line.

I like to use the Commodity Channel Index (cci) 14 crossing over the Zero line heading north. Edit the panel so that the -100 line is a thin green lin and the zero line is white dashed and the +100 line is a thin red line.

2. Use my Green Bar/ Red Bar technique. Now let's apply the two (2) rules with an option.

a. Buy first Green Bar after last Red Bar.
b. Sell first Red Bar after last Green Bar.

Option.... if you have Cojones, buy one hundred shares for every Green Bar heading north after the first one purchased. Sell per the above rules. I trade ESRT every day.

3. Trade per the FW Moving Average 10 (yellow) over Moving average 8 (orange). Can still use the yellow line as a reference line.

Enjoy

Quill -

fadytheman

hi i either miss understood you or didn't do it right still never found anything that will work to day trade inter-day using options. thank you for your respond

markd

Trading options intraday, or in any time frame, is really tough because you have three things working against you - other traders who are professionals with computer algorithms and a lot of money, the spread between bid and ask, and time decay. So your timing has to be absolutely perfect.

If you want the advantages of leverage, you might want to read up on bull and bear 3x funds. Be sure you understand what they are and how they behave before you put down money. I don't use them but some others here have. Here's a link to get you started:

http://scan.stockcharts.com/discussion/comment/2244#Comment_2244

fadytheman

Thank you. I want to day trade and use scans and charts. If charts say stock going to go up or down that day even 1% you will make money trading options

markd

Well, Stockcharts does not provide scanning based on intraday data, like hourly or 10, or 15 or 5 minutes. You can get set up chart styles with intraday indicators, but you can't scan for signals from those intraday indicators, like a MACD crossover on the five minute chart.

Maybe you could just look at stocks that will be announcing earning in the coming week and follow those. You can probably get that info from CNBC or Bloomberg or similar sites. Sometimes big moves follow earnings, but you have to guess right which way prices will go. Pretty risky.

Also keep in mind, even if you make money some days, you will lose money on other days. So you have to pay for those losses out of your gains. So the "real" gains are smaller than it looks at first.

fadytheman

So what's the point of using charts I can't even figure out a scan that will let me know if the stock is going to go out for the next day or two or week or two. I want a scan that will tell me if this talk is going to go up or down for the next few days

markd

Good point.

fadytheman

Before I close my stockcharts.com account since I can't figure out a way to make charts work do you have any advice or scan that works that can tell you if the stock is going up or down in the near future

markd

Well, you seem to want to do options on stocks and only options. Stockcharts isn't really suited for that, in my opinion. There are dozens of indicators that try to do what you want, but none of them work all the time. The answers above from Quill and lambchops are really simple, straightforward methods. I can't vouch for them, but they say they work. Apparently you have to use a site called freestockcharts for @Quill 's ideas.

fadytheman

Thank you! Do u trade if so what works for you

markd

Sorry, I just don't have time to go into that. But look at this page:

http://stockcharts.com/school/doku.php?st=wyckoff&id=chart_school:market_analysis:wyckoff2

fadytheman

Thank you so much

markd

I don't know why I didn't think of this earlier. You might like this public chart list. Her method is very simple and seems to be very popular :

https://stockcharts.com/public/1107832

fadytheman

Thank you so much for your help I hope you have an amazing day