how do you go about daytrading?

[JAMES BOND7]

do you go about daytrading using 5 min price chart,20min simple moving average, and bollinger bands?
which are the best possible indicators(leading if any) to catch impending uptrend or downtrend?
any ideas please?
do we need two monitors to bew able to view different charts
to catch trends fast?
what is the best way a new beginner daytrader can start
daytrading?
please guide me!

[666]

Originally posted by JAMES BOND7
do you go about daytrading using 5 min price chart,20min simple moving average, and bollinger bands?
which are the best possible indicators(leading if any) to catch impending uptrend or downtrend?
any ideas please?
do we need two monitors to bew able to view different charts
to catch trends fast?
what is the best way a new beginner daytrader can start
daytrading?
please guide me!

Everybody is different....has inner expirience and uses different charts,indicators etc.
There is no universal number of charts and time interval or indicators to see uptrend or downtrend...

For example my good friend plays 3 years using one 10 min chart with MACD and RSI only ....and makes about 5-8 transactions per day....

I dont use any indicators only blank candlestick charts ....5 min , 30 min 1 hour

2 monitors are not necessary .... most important in daytrading is experience ...

[joebarry]

Look for a rising ADX (above 30) and follow a 20 period exp. moving average.

[1in10]

James Bond 7,

QUOTE]what is the best way a new beginner daytrader can start daytrading [/quote]

If you are asking this question, how do you know you are a daytrader? Maybe you are a swing trader or position trader?

Something for you to think about.

[JAMES BOND7]

My friend,
i am a position trader. i have done some daytrading and burnt my fingers. whichever way i go the market kicks me and takes my money out.
thanks foryour query