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  • INTRA-DAY TRADE LESSON: FIND THE SUPPORT LEVELS FIND THE SCALPS 0 comments
    Oct 23, 2009 11:52 AM | about stocks: SPY, XOM, SPY

    As the saying goes the 'trend is your friend'. While this is true and should be respected, as an intraday trader you try to capitalize on the market regardless of the trend. In this case our saying is' find the support and you find the scalp'. Therefore, it is important to find prior or past turning points on the chart. Look at the past major pivots in the chart. If you are a fast scalp trader look at the past pivots on the 5, 10, or 15 minute charts. If you are a slower scalp trader it is important to use a 30 minute, or 60 minute chart. Remember to use stops and once in the money take off half the trade and move the stop in the money to secure a winning trade.



    Stocks: SPY, XOM, SPY
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