Day trading with multiple charts

Day trading stocks, commodities or forex market is very interesting because it offers a complicit lifestyle if you can master this, but this is a big if.

This allows you to enter and try their luck with very little money or tools, no other company offers this.

Perhaps we should have said to try their skills as well, very few have the skills to make negotiation because it requires some knowledge of how it works and Yes the game is a game and all games have rules.

Many come during the first trading day, and I think a lot of fun and physical challenges, they think that if I could master this fun how to live a right in front of your computer with no boss.

Oh how tried for awhile or watch just to leave after having lost their nest eggs and have to walk far defeated the tail between their legs and hating the stock market all together now.

Well for these types of articles that I write and say a thing or two about day trading.

# 1) long-term trading or swing trading the first thing we do is to look at a chart for real long-term trend direction then go to the shorter term charts for entry and exit points, keeping in mind the largest direction.

So the day transactions would not be the same thing said to do, but for a shorter time frame, a smaller time chart, lets say that we are on a 4-hour chart as our long term chart, and then funnel down a graph time and all the way down to one minute chart, keeping in mind all the time 4-hour chart direction because this is the largest trend and this is what we wish for a more profitable then just a few pennies.

There are those who for a few pennies scalp the market here and there but I am not a scalping here, that is a different approach and take different rules. I am talking about trading day properly with some rules to follow here.

So I said that we can use the 4 hour chart trend and use this as a long term chart swing trade except that this is only a trading day, then we funnel down and look at a graph of time when we might see a different trend, perhaps a rally where as the 4 hour chart shows a trend, but this is a good sign that we know, once this rally stays outside the largest trend will continue.

You could use a 4 hour chart, and then a chart last 1 hour and 30 minutes a chart for the entry and exit and this would be a style of trading day.

Another style starts with a 1 hour chart as a chart for the long term direction, then funneling down to 15-minute chart, then finally to 1 or 5 minute chart for the entry or exit, this style is for faster type of professions and your nerves, emotions and personality will depend on what style you feel comfortable with.

You need to know which style best fits you but remember to use a multiple charts to get your day trading style so you can remember the longer term chart direction for trading higher accuracy and not only to short sighted, but have a big picture in mind.

Have you ever seen multiple charts in action? This allows you to not go against the trend.

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Seven tips for selecting day Trading Charts

Response: This is the most important, and they are always the biggest problem that affects your trading. I need my charts to work quickly, no moving sluggish values and I need my charts to move smoothly at ALL times. Multiple charts will work fine in slow times, but only when you need to work more (when the market moves quickly) can jam and freeze. Trading is quite difficult without freezing your charts, so this must be effective, as can be. A good trick is to check that your charts during an event news. Thursday morning at 830 am freezing EST open your charts and watch the jobless claims numbers released ... not your charts? If you, make sure you upgrade your computer or go to chart providers.

Stability: should relate to the market at all times and lack of consistency with your connection is almost second response.Day traders should be aware that they can count on residents in relation to the market of live at any graphs. If you have inconsistent logon can help desk and Internet connection, so make sure you explore all the reasons for the lack of connection.

Easy to use: if you fumble with your charts because they simply are not easy to use development to your job as a dealer day much more difficult. I found some charting packages in the past is never that the trader using them when they were developed in response to the layout of all controls.If you are struggling to effectively use your charts, precisely because it doesn't work correctly the way you need to research time for other options developed with efficiency in mind. remember, little things that slow down as a trader you will increase the number of errors you and will cause a loss of confidence, and that should be avoided at all costs. Find yourself a set of charts that are easy to use for you.

Low cost: ten years ago my cost charts more than paying my rent every month, so I don't paratolmoi was a great commitment if you wanted to day trade many markets. If you are trading more than 3 years remember when we used to buy data market separately from the exchange of every purchase you wanted to trade ... not anymore.These days you receive all the data we need from one source and are very cheap. in relation to your charts, you won't have to pay too much for the better charts. Competition that increases day by day for retailer ' business, the market for charting platforms has driven costs exponentially. You don't need to pay much money for large charts, just do your research and look for what matters most.

Expand indicator: everyone knows that technical indicators designate a successful day trader, but certainly can help correct indicators. I'm a believer that indicators are useful only when you save my time and decrease my mistakes. You may not need to develop indicators now, but if you are working with a charting package known for easy development index than you can still use technical indicators you want in the future. You never know where your trading day will take you, and it would be a pity to learn a set of charts that can be used easily with new indicators.

Using computer resources: a very important factor you need to know before choosing a charting package is how much will your computer's resources to use. I never seen a charting package that uses RAM so you hardly can keep up? MultiChart packets are not designed with the end-user in mind, so when you are shopping around for graphs make, be sure to use them on your computer, and then press control + alt + delete, and search for how your computer operates the power your charts.Also ask your charts provide to tell what are the minimum computer requirements for charts provided, this will allow you to compare with other providers of charts.

Customer support: cannot forget that will no doubt have questions when you begin learning to use your graphs your charting features technical support?If not how do I get help?If you do this, e-mail or telephone based?Note that the best customer service is absolutely taken-relying. I'll stay away from ' support ticket ' system because it has too many moving parts, and hear the phone system as a good thing, but in reality you will end up with busy signals, and wait for voice mail messages that are returned. telephone is ineffective for a customer support team, look so easy ways to communicate to tech support, we will be grateful if you come across a question you can't find in the manual.

About the author: Joseph James is a Professional day Trader and founder of SchoolOfTrade trading day website for more information please visit the blog or follow the link below for more information about choosing the right graph platform. all information is free, Schooloftrade also offers a room trade Live trading courses and a free trial; please check the links below.

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