|11 Mar 2009||#1|
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Day Traders anyone --- Do you use MACD or other trading system
Hi guys -- often when I'm sitting at a computer I meddle around with dabbling on the movement of the British FTSE index, the Dow Jones (30) DJIA index and the Nasdaq index (QQQQ)
Yahoo epic codes ^FTSE , ^DJIA, and ^QQQQ
I find using the MACD where the lines cross are good Buy / sell indicators -- you usually get 4 winning trades per losing trade.
Ensure if you do an of this sort of stuff ALWAYS PUT A STOP LOSS ON as the index can move very rapidly in 5 mins and at 10 EUR a point you could lose a lot if you don't put a stop loss in.
MACD indicator for me works --and when trading you can of course "Short it" i.e "Sell it when it goes down and buy it back at a lower price to close your position.
Any other "Day Traders" here -- if I'm looking at a screen for a lot of time I might as well try and make a profit out of it - especially in a recession.
Great fun but go carefully. You need to understand statistics and Stock Market "Technical Analysis" but you can make in 10 mins what it takes 3 weeks to do going out to work. (You can also get bankrupt very quickly as well so DO BE CAREFUL).
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