Can anybody let me know which are the best indicators for daytrading. pl. tell in detail like how many minits charts should i keep and in that chart which indicators should be kept with what parameters for day trading.
Trading indicators are best used along with money management and good risk control, using tesnical indicators alone will not enable you to ne a successful trader, the market is just too random
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The best technical indicators for daytrading depends onour comfort level on which one to use. Any of these indicators (oversold, overbought) and trend indicators (higher high, higher low) should help. How many charts depends on what timeframe you plan to trade. You would usually need at least 4 charts. An hourly chart, 15 minutes chart, 5 minutes chart, and 2-3 minutes chart. 5 minutes chart is most traders use for entry/exit intraday, you could make at least two good trades with 5 minutes chart on fast moving stocks.
JessicaM has a very nice summary on Market Profile, you might want to a look at the market profile approach on daytrading.
well, it depends much on what are you trading, stocks, FX or commodities…
ususlly it’s a good idea to know when there is a huge sell-off and the asset is oversold so you can buy it cheap and sell it when it gets overbought.
for this purpose you can use "Slow Stochastics".