does a scalper not research anything the day before?
or is it 100% reactionary type of trading in the moment basically?
wouldnt it help to check general market sentiment for example or any announcements or splits or corporate actions?
what do you look at when day trading and prep for day trading?
- Thread starter mute9003
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does a scalper not research anything the day before?
or is it 100% reactionary type of trading in the moment basically?
wouldnt it help to check general market sentiment for example or any announcements or splits or corporate actions?
Aloha mute,
Incase you missed reading that big announcement (whatever it may be), if you have a price ladder/DOM pulled up, you’ll see it clear out a few minutes before news time. Liquidity will temporarily disappear. Same thing when a stock is just about to get halted.
Of course, you need to prepare.
1. You need to know all the key price levels, such as support and resistance.
2. You'll need to also know price momentum on different timeframes. Is the price a higher high or lower low, and if so, by how much? This tells you about the underlying market psychology.
3. Based on what happened, are you able to forecast what would happen on the next day? You need to mentally train your mind likes Olympic athletes.
And there are more, but these 3 should suffice for now.
I set my alarm up couple of minutes before session starts. Get up from bed, half sleep drunk, look at some lines and set my orders. That's it.
may god bless you and keep you, a chinese money god that is.
I mean in bull market i slept through about 20k of profits. All 3 from the DPW pumps that i managed to get into at about a dollar,
And when i woke up i was up like 9k and then 12k and 15k or something.
I looked at my phone and was like cool.. if i go back to bed it will go higher...
Lambo this weekend.
But instead it went lower every time.
So i bought a civic
And when i woke up i was up like 9k and then 12k and 15k or something.
I looked at my phone and was like cool.. if i go back to bed it will go higher...
Lambo this weekend.
But instead it went lower every time.
So i bought a civic
- how the derivative closed in prior session
- how the derivative is opening in international markets
- how the derivative is correlating with other derivatives (fx/credit/sector)
- whether derivative is above or below 200 day MA (trend)
- which economic reports are slated for the coming session or next day
- what are the current themes playing a role in the markets currently
- how active the tick action is relative to the average activity
- what are the future themes or impending themes that can effect pricing
- how the derivative is opening in international markets
- how the derivative is correlating with other derivatives (fx/credit/sector)
- whether derivative is above or below 200 day MA (trend)
- which economic reports are slated for the coming session or next day
- what are the current themes playing a role in the markets currently
- how active the tick action is relative to the average activity
- what are the future themes or impending themes that can effect pricing
200 MA "trend" - for use in day trading?
yeah, thats one of the timeframes on the screens the daily. But I have the 5 min, 60m, 240m, 240 tick charts.. sometimes you will see something in one timeframe thats not clear in another.