hi
i would like to trade intraday. but i really have no idea how one decides which indicators to use or with which parametres.
and which time frames do daytraders normally use? five minutes or 1 or what?
and do all indicators work on every time frame the same good?
sorry many questions but it would be great if you may help me
thank you but ive read this. but it doesnt makes clear to me which indicators to use as a day trader and especially not with which settings.
There’s no one size fits all answer here.
I use five minute, and fifteen minute charts myself, but others use week, and day to trade on an hourly, or daily basis.
It comes down to finding a system, or set of conditions in which to buy or sell on.
Look at the strategy section here. There’s plenty of systems that work in the Holy Grail section of the forum.
hi
As a day trader you don’t necessarily need indicators. Have a look at Tymens “Adventures in candlestick trading” of KEN LEE’s trade what you see system " true trading with Pa"
best regards
dave
thx for the help I ll have a look at that.
but one more question:
As a daytrader you ll have to spend more time in trading than as another kind of trader. does that also mean you ll get more profits? I mean i know it depends from how good you are but if the same person would trade intraday or long could he probably make more money in intraday?
I’m sorry, but what does PA stand for? I’ve seen it around the forums and I just can’t figure out what it means.
Hi Alfie
Intraday traders generally take smaller profits more often but overall profitabillity has nothing to do with that. only you can decide what style of trading suits you, if you are a position trader then intraday probably would not suit you. I know position trader who make <1000 pips pm . I also know intraday traders who can do that in a day. the most important is to find what works for you, rather than what others do or claim to do as all traders are different
best regards
Dave
hi charrell
PA is price action
literally what price is doing and how it acts and reacts. PPA (previous price action) as an example could be S/R or H/L
Thanks! I was just reading up on price action in John Murphy’s book “Technical Analysis of the Financial Markets”.
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thank you very much for your help kockneerebel
I have one more question ( I promise it ll be the last for now 
)
If one would like to use indicators is it necesarry to understand the math behind it to use it sucessfully?
I would say that you shouldn’t need to understand the math. But you should understand what the result means.
(Example: Know what an increasing or decreasing RSI or Stoch indicates.)
Hi Alfie
Feel free to ask any questions people here like to try and help :). It is not necessary to understand the math but try and understand the relationship between it and PA. Always remember that indicators are showing history and what has happened is no gaurantee of what will happen
best regards
Dave