Please Kill My Chart

[PennySnatch]

Here is a screen shot of what I stare into for 40 hours a week.
The top chart is a one minute with Bollinger Bands (blue) and the VWAP (red.) Under that is a custom study that charts the B/A of the SPY (sharp teeth in blue and purple) along with the VIX (white line) and the momentum of the underlying (blue and red lines.) Under that are the JITM Call's Price (blue line) and the JITM Puts Price (pink line) that I trade along with their Strangle Price (gray Line). Lastly, I watch the QQQ, IWM and VTI to help me gauge the strength of any given movement as these other ETFs are positively correlated to the SPY.

This chart set up is working pretty good with the strategies I use, but I wouldn't mind getting some feed back from the group to help me better day trade the SPY.

Thanks for your help

 

[Nereto]

Less is more.

 

[toc]

Buddy, it would not hurt to break this chart into 3 screens/monitors and have more clear view of the market action.

 

[tommcginnis]

Jack Schwager? Meet Jackson Pollock.

 

[lawrence-lugar]

Here is a screen shot of what I stare into for 40 hours

day trade the SPY
View attachment 173735

All of that information is meaningless, in my opinion -- all you need is a basic Google Finance chart. (or whatever website you prefer to use)

Before the opening bell, you should have a loose and general ballpark figure of how you expect that chart to behave during the day...how you expect it to look like...its major peak and valley/support and resistance points...and if you're good, wait for that to materialize. or adapt to the chart's personality or mood as you see fit.

Less is indeed, more.
Trading is an art and science. That's ever more so true with regards to day trading, or the shorter the time frame.

Don't stare at a chart for each minute literally. ...You'll go Nuts;
Just periodically check back into it in 5 or 10 or 15 minute intervals,

 

[dealmaker]

You are either a new trader or have never heard of KISS!

 

[PennySnatch]

I have been seriously trading for about a year now so yes I am a newbie. In my defense of my busy chart I only look at about 6 items to help me make my decision to trade or not.
But thanks for the input and yes I have heard of KISS.

 

[SimpleMeLike]

Here is a screen shot of what I stare into for 40 hours a week.
The top chart is a one minute with Bollinger Bands (blue) and the VWAP (red.) Under that is a custom study that charts the B/A of the SPY (sharp teeth in blue and purple) along with the VIX (white line) and the momentum of the underlying (blue and red lines.) Under that are the JITM Call's Price (blue line) and the JITM Puts Price (pink line) that I trade along with their Strangle Price (gray Line). Lastly, I watch the QQQ, IWM and VTI to help me gauge the strength of any given movement as these other ETFs are positively correlated to the SPY.

This chart set up is working pretty good with the strategies I use, but I wouldn't mind getting some feed back from the group to help me better day trade the SPY.

Thanks for your help

View attachment 173735

Hello,

If your chart settings make money, then the chart settings make sense.

If all that stuff on your chart help you make consistent money, then keep there. Get an extra screen for extra viewing.

 

[PennySnatch]

All of that information is meaningless, in my opinion -- all you need is a basic Google Finance chart. (or whatever website you prefer to use)

Less is indeed, more.
Trading is an art and science. That's ever more so true with regards to day trading, or the shorter the time frame.
[/QUOTE

Alright Lugar. This is my new chart. I will report back to the group with results.

 

[murray t turtle]

%%
OK;
SPY can + does diverge from QQQ plenty........................................................