Hi,
Being a learner i have a lot of small doubts which I am sure will sound silly.
First of all, how important is the intraday data for someone who is swing trading ? In these days of heavy volatility, and huge price swings during the day when should one buy and when should one sell (during the day) ?
Even if i decide only to do swing trade what is the frequency with which i should monitor intraday data so that i dont happen to lose out ?
All the indicators etc which are used mainly on closing price may indicate a buy the next day but the price at which the order is executed is anyone's guess. So to prevent that should I always give a limit order ?
Another question that comes to my mind is regards stoplosses. If I keep stoploss orders, sometimes during the day the intraday swings take out my stoploss, but the closing price is not even close to the price where my stop loss is hit. So should the stop loss be just a mental one ? And in that case what about days when suddenly the stock closes way below my stop loss ? So that is the reason why i want to know the intraday monitoring frequency to avoid such things.
Any help will be appreciated.
Regards,
Kalpana.
Being a learner i have a lot of small doubts which I am sure will sound silly.
First of all, how important is the intraday data for someone who is swing trading ? In these days of heavy volatility, and huge price swings during the day when should one buy and when should one sell (during the day) ?
Even if i decide only to do swing trade what is the frequency with which i should monitor intraday data so that i dont happen to lose out ?
All the indicators etc which are used mainly on closing price may indicate a buy the next day but the price at which the order is executed is anyone's guess. So to prevent that should I always give a limit order ?
Another question that comes to my mind is regards stoplosses. If I keep stoploss orders, sometimes during the day the intraday swings take out my stoploss, but the closing price is not even close to the price where my stop loss is hit. So should the stop loss be just a mental one ? And in that case what about days when suddenly the stock closes way below my stop loss ? So that is the reason why i want to know the intraday monitoring frequency to avoid such things.
Any help will be appreciated.
Regards,
Kalpana.