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Day Trading Strategies
What is day trading and why do we attempt it? There are many traders and sceptics out there that have never attempted day trading or have burned their fingers due to lack of day trading strategies. Some of these people consider day trading to be a dangerous form of trading and even equate it to gambling, the question that begs to be answered -
Well let me put it this way…if as a trader you are not consistently profitable in longer time frame trading i.e. end of day, weekly, monthly etc. – then I ask the question, “what the heck are you doing attempting intraday trading” …here you got to have day trading strategies, be sharp, quick and emotion hardened or you will get slaughtered – Period! Read and re-read the simple methods that I apply to trade the markets in this web site, the techniques apply equally to day trading and any other time frame that you choose, including the all Powerful Forex Signal System A common mistake that must be avoided is hopping from stock to stock looking for a possible setup to trade; this is fine for longer term trading or investing, never attempt this for intraday. I personally study the behaviour of just three derivatives and always trade these with strict discipline. Please watch these trading videos… I never, never break my rules of trading no matter how tempting a trade might look, I don’t care if I happened to miss out on a good “juicy” trade – if it did not meet my trading rules, I let it go….. There will always be another one! Now that the above is clear, let’s talk about my powerful day trading strategy, the correct term for day trading is “intraday trading” There are a lot of uninformed and negative people out there combined together with some media reporters that are nothing but scaremongers who love to knock intraday trading. In intraday trading, trades are never held overnight therefore you are not exposed to unforeseen events that could rattle the markets and your trading account. Sometimes I hold a position only for a few minutes and close for the day, I don’t go looking for another one later on, you should be disciplined enough to know when to draw the line and quit for the day.
If you feel qualified and experienced enough to attempt intraday trading, then I would suggest just to be sure, trade for a while with a “demo” account see what percentage of winners you pull out of the market. Use this as a guide to gauge your performance before you dive in with real money.
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