I was hoping for some insight as to what information other day traders use on a daily basis to help them prepare for the day ahead.
Some of interest to me is;
The US and Europe overnight performance
Sector performance in the US...mainly Financials, Metals & Energy
Movements in Gold, Oil and the AUD/USD
Base metals overnight.
The Vix (Volatility Index)
Daily RSI on the XJO.
I also look at the daily futures summary (15 min. delayed data) to see the volume on the SPI, including the puts/calls ratio.
Is it wrong for a trader to put a target band together for the day ahead by utilising the % up or down on the SPX500 and DJIA?? Does this put us off our game.
Should day traders purely trade on price action?
I'm trying to update my trading strategy and at the moment perhaps I'm trying to take in too much information with regards to the above??
Any comments, feedback good or bad are welcome.