Common Day Trading Strategies
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If none of these options fits my requirements I will have to decide if I want to invest into writing my own framework (at least by looking at the available options I'll know what does not work) or stick with custom code for each strategy. The next step in your journey is to sign-up to a day trading chat room that allows you to observe a professional day trader and potentially shadow his trades, i.e. copy his trades. In trend trading it is believed that the stock which is rising will continue to rise and those which are falling will continue to fall till the price breaks this trend.
In Day trading no one has control over market and on stock movements so if the stock direction reverses then the trade will enter into losses. A solid trading plan enforces these points, and by reading our plan daily, we recognize the importance and begin applying them. I use the stock index futures (the eminis and Maxis) for calculating daily support and resistance areas, which are the basis of my own trading style - a style of trading that has paid my bills and built my financial security for about 30 years now. Even if you have a trading system which generates 99% of success, there is always a certain chance and probability to lose in day trading. If either are not working, stop trading until you come up with a way to overcome the obstacle. Futures and forex trading contains substantial risk and is not for every investor.
You see, most of you are losing money because you are trading too often, and you are trading too often because you are fixated on over-analyzing the market, Forex news variables, and lower time frame charts (I consider any chart under the 1 hour to be lower time frame").
A) One way to reduce or avoid losses is to wait for right opportunity for trading rather doing trading for every rise and fall in the stock price. You are going to be able to place trades that can last seconds, minutes or an entire day and with that in mind think long and hard as to how long you wish to have your trades live and active for.
Sure, as long as you use the space regularly and exclusively for trading and the deduction doesn't throw you into a net loss position. Trading usually happens between central pivot point and support 1 as well as resistance 1. Day traders would look for price to go from pivot point till support 1 and reverse there or till resistance 1 and reverse there. I don't see it as a good tool for backtesting strategies that involve multiple assets, hedging etc.