what do you look at when day trading and prep for day trading?

[mute9003]

what is your process for daytrading/scalping.

what kind of information do you look at and if you can recommend better sources of info that are free or reasonably cheap for new traders

what i mean is news sources corporate actions which market calendars are good and which ones are not.
basically im trying to see where i should be looking for information in general when it comes to day trading and scalping. not long term investing.
the data that matters more for this type of trading


right now im going over the charts afterhours and checking stockanalysis page for corporate actions. theres just so many data sources i dont know which are better

 

[SunTrader]

My monitors.

 

[tiddlywinks]

As a US-based, US-Index futures day trader (flat eod), an economic calendar is necessary.
My go-to for such is https://www.forexfactory.com/ ... that's my preference... there are many others.

good trades to ya.

 

[faet]

what is your process for daytrading/scalping.

what kind of information do you look at and if you can recommend better sources of info that are free or reasonably cheap for new traders

what i mean is news sources corporate actions which market calendars are good and which ones are not.
basically im trying to see where i should be looking for information in general when it comes to day trading and scalping. not long term investing.
the data that matters more for this type of trading


right now im going over the charts afterhours and checking stockanalysis page for corporate actions. theres just so many data sources i dont know which are better

Trade what. Stocks? Futures? Bitcoin?

 

[mute9003]

Stocks

 

[HawaiianIceberg]

I check this first thing every Monday to see what the week looks like: https://us.econoday.com/byweek
I only check weekly, because most evens happen before I wake up, with the exception of FOMC type events, so I mainly check for those. I would look daily if i where up earlier

 

[wartrace]

I trade futures and I don't prep due to my trading strategy. I take a look at the overnight session, check for related news events, and then look for setups.
I have started trading options earnings and that requires a good bit of time on the weekends screening for good names. It then requires about an hour before the market close to do further screening.

 

[maxinger]

Many people felt that day trading was extremely dangerous/risky.
So it is better not to respond to your Q.

Very few people are interested in learning how to day trade.
If you are doing day trading, welcome!
It is a lonely business.

 

[schizo]

what is your process for daytrading/scalping.

what kind of information do you look at and if you can recommend better sources of info that are free or reasonably cheap for new traders

Only thing you need as a daytrader, especially if scalping, is a chart. Everything is already priced in. Even the economic numbers you talk about, once they're released, will be reflected in the price. You trade by forecasting, but mainly reacting, to price movement. My advice: learn price action and price patterns. Forget the rest. They're only distractions.

 

[The_hero]

You need to look at the news and see what stocks have an upward bias and a downward bias. That helps in conjunction with the charts. Briefing.com is good as is Trade the news.