daytrades june 23 afternoon, page-63

Thanks for the reply on intraday trading Highlandlad. I have a few questions if you have the time.

Firstly, when you say the depth, daily and course of sales charts are linked to the 1 minute chart, you do that by right clicking on the code and selecting broadcast - right?
In the depth chart, if there are say 5 Bids at 212 with a volume of 12000, and 6 Asks at 213 with a volume of 10000 do you just look at that line, or do you go down a few notches, ie, to say 210 on the Bids and see what that total volume is compared to the corresponding total vol of Asks from the same line up. If you are watching a few stocks, how do you keep track of which way the volume of buyers vs sellers is changing - do you make a note of it and the time recorded?

Why do you have the daily chart constantly open? Does it also have the bollinger bands and MA on it?

I agree with not getting too attached to indicators when it comes to selling. My biggest question mark however is always how do you know it's getting close to the bottom and how do you know if it will turn. One could have bought PXR at $2.02 at 10.23 this morning thinking it had bottomed and feeling very relieved when it ticked up to $2.05 a couple of minutes later only to have it drop like a stone again down to $1.65 over the next 20 minutes and then be back up to $2.04 by 10.53.
Are there any indicators to look at to prevent this. I was not looking at it at that time, so would it have been a case of thousands more sellers present at that time (10.25 to 10.45?

I have got to say that as exiting as it is when a trade goes right, it is agonizing when it goes against you. That is why I am interested in the systems (indicators) people use to get their timing more or less right when day trading. There has to be more to it than guess work when deciding on getting in. If anyone uses a mechanical system for day trading, I would be interested in hearing about it.