I've been hitting the markets since 2016. I lost for my first couple years. Then broke even for a couple years. I didn't really start making money until Mid-2020 during the scamdemic. I started day trading SPXS when the market was tanking day after day. It was so predictable for a while that it gave me a chance to sharpen what I had learned in years before and transition from breaking even to making money. I still have a lot to learn, but I have developed a pretty good strategy to day trade. I will share it with you guys. USE AT YOUR OWN RISK.
First I scan for pre-market gappers 3+% with high volume, usually 10-15 minutes before market open. I build a watchlist. Then 5-10 minutes after market open I scan for additional high volume stocks that didn't make the gap scanner and add to list. Most of the time my two scans are pretty close to the same stocks which is what I want. Next, I use mostly the 1 x minute chart once in a while the 5. I check float on my stocks and note the lower float, the more volitile they may be. 25 million share float or below is considered low float and thus the faster movers. It's not an exact science. Anyway, I also check news and make sure there aren't any earnings today or tomorrow. Earnings can really fvck you over, I don't trade around them. Out of my watchlist, I give preference to stocks that made the list that have made me money before. OR, stocks with highest volume with no earnings. Then, my optimal entry would be RSI "below 30 and rising again " + "the MACD in red and moving back up" + a nice bullish green hammer candle after a price drop. Ideally 15+ minutes after market open. I'll make entry on the second green candle after the bullish green candle. I buy 750, 1000, or 1500 shares. No more than 1500 because I find that it can take longer to get orders through. I use 9EMA and VWAP as support/resistance. I ideally want the 9EMA and VWAP far away because something ALWAYS happens at those, usually consolidation, or sometimes a bounce (in either direction opposite of where it was heading). Everyone day trading watches the 9EMA (or maybe 9SMA, something close) and the VWAP. They are like a self fulfilling proficy. Rarely does the prices of the stock just plow through them in either direction without doing something. So, my exit will be typically either just below my targeted resistance like the VWAP line, or, after I have made a few hundred bucks. I don't push my luck. Doing this I've been making consistent money, $100-400 per day. 19/20 trades will be winners.
I'm not getting rich, but I am very consistent. I GET IN and GET OUT, like a bull impregnating a cow before the farmer catches him!!! The longer the bull is in the pen with the cow he's not supposed to be impregnating the more likely it is that the farmer will come and castrate him!! The market will castrate you if you let it. It's not your friend!!
