You want a quick answer to a question that can only be vaguely answered in years.
Everyone has their own style. My style won't work for you.... neither will anyone else's style. You have to develop your own style & rules. Risk management has to be more important than making money when trading.
Some of my rules are;
Must have a 500,000 or more shares traded a day.
Don't day trade any stock priced below $15 unless you're totally familiar with it and are very successful.
I trade on a 15 minute chart. Others do more, some do a minute chart.
I subscribe to a news service. I trade breaking news & broker recommendations (I think broker recommendations are a joke... but I'm trading against people who believe that junk).
I trade on momentum on a pivot chart. How you trade is strictly based on your personality.
Freeonlietradingeducation.com has some great videos that address your question. Check out the video series by mark sutton, there is about 300 of them, all about 3-4 minutes long where he observes market by pattern recognition and sets up high probability trades. The videos also touch on many other iimportant subjects like: $ management, psychology, and account management. Best of all, its free!
How to examine a perticular stock will go high.... for a day....
