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Old 06-13-2007, 04:53 PM
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Quick Daytrade question

For those who daytrade regularly, do you go by the intraday chart alone or use the overall trend along with the intraday chart?
If you go with a longer trend line, how far back do you normally look? Trying to get a feel for the books I'm reading.

Thanks for any advice
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Old 06-13-2007, 05:26 PM
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When I daytrade, I go by intra day charts, along witht the intra-day moving averages. I watch the sector at the same time to see if the stock is moving along with the sector, and the overall market as a whole. You may find a stock that has been going sideways for a day or so trading in a small range. In that case, u can go a few days out to follow. The farthest I may go out for a daytrade maybe 5days, you can get a nice pop for a sell or buy intra day and then look at a 5 day chart and the stock may be at resistance or support, and then if it breaks past it, you can ride the trade that much further to maximize your gains without covering a short to early or selling your stock to early.
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Last edited by whodi; 06-13-2007 at 05:29 PM.
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