To utilize the Magic Day Trader feature for your day trading strategies, you can follow these steps:
- Access the Magic Day Trader: Navigate to the "Market" section in your trading application and find the "Stock" category, where you will find the Magic Day Trading feature.
- Interpret the Ratings: Examine the stock list categorized by ratings such as Bullish+, Bullish, Bearish+, and Bearish. These ratings can help you identify stocks with potential for intraday volatility.
- Receive Alerts: Optimize your trading experience by enabling app pushes and daily reports in the "Premium Tools" cards on the Screener tab. These alerts can provide timely insights for making trading decisions.
- Use the Indicator: In the Pro mode of the bar chart, observe the Magic Signal indicator in the subchart window. A green triangle indicates a buy signal, while a red signal suggests a sell signal. In Lite mode, look for dynamic green radio waves on the main chart for bullish signals.
- Set Stop Loss: For setting a stop loss order, select the stock in your trading platform, navigate to the "Stop Loss" tab, and input the price at which you want the stop loss triggered. Tailor this based on your risk tolerance and investment goals.
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