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- Herausgeber: WS
- Kategorie: Fachliteratur
- Serie: Investing Essentials - From Stock Market Basics to Real Estate and Passive Income
- Sprache: Englisch
Enter the World of Day Trading and Bring in Profits on Par With the World’s Top Traders
Have you heard about the insane money day traders bring in?
Do you want to leave behind your desk job and begin making smart investments so you can retire early?
Are you eager to join the exhilarating world of day trading, but find yourself overwhelmed by the vast array of markets and trading instruments?
This guide is here to change your life for the better by handing you the essential knowledge and skills needed to thrive as a day trader in today's dynamic financial landscape.
This book unravels the intricacies of day trading in stocks, forex, options, futures, cryptocurrency, and ETFs. It offers comprehensive insights gained from extensive experience in the day trading industry empowering readers to attain the same level of success.
With this book, you will:
- Interpret market movement like a pro: Gain a deep understanding of various technical analysis tools, including chart patterns, indicators, trend analysis, and volume analysis.
- Master the art of managing risk effectively: Explore proven risk management strategies, position sizing techniques, and stop-loss methods to ensure sound decision-making in every trade.
- Dive into tailored strategies for each market: Explore top strategies for stocks, forex, options, futures, cryptocurrency, and ETFs. Uncover the nuances and intricacies of each market and gain a competitive edge.
- And more!
Whether you are a novice or an experienced trader, this book is here to be your roadmap to success by providing you with valuable insights and actionable strategies to elevate your trading game and boost your profitability.
Take control of your future and embark on a rewarding journey towards becoming a consistently profitable day trader!
Scroll up, Get Your Copy Now, and Start your Trading Journey!
Das E-Book können Sie in Legimi-Apps oder einer beliebigen App lesen, die das folgende Format unterstützen:
Seitenzahl: 79
Veröffentlichungsjahr: 2023
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Day Trading Strategies
Learn The Key Tools and Techniques You Need to Succeed in Trading Stocks, Forex, Options, Futures, Cryptocurrency, and ETFs Using Insider Technical Analysis and Risk Management
Samuel Feron
Copyright © 2023 by Samuel Feron
All rights reserved.
It is not legal to reproduce, duplicate, or transmit any part of this document in either electronic means or in printed format. Recording of this publication is strictly prohibited and any storage of this document is not allowed unless with written permission from the publisher except for the use of brief quotations in a book review.
This book is a work of fiction. Any resemblance to persons, living or dead, or places, events, or locations is purely coincidental.
Contents
Introduction
Many years ago, the only people who could engage in active stock market trading were those employed by big financial institutions, brokerages, and trading houses. Online trading and the immediate transmission of news have leveled the playing field, or should we say trading? Retail investors can now try to trade like professionals more easily than ever thanks to platforms like Robinhood, TD Ameritrade, and Charles Schwab's 0% commissions and user-friendly trading apps.
One of the most contentious issues in the world of investing is day trading. A long list of well-known commentators fiercely contends that day trading in the financial markets is little more than gambling. These pundits fervently contend that long-term investing will typically outperform aggressive trading strategies over extended periods.
Day trading is becoming gradually popular as more people strive for financial independence and the flexibility to live as they choose.
Learning the nuances of this fast-paced day trading environment requires time and commitment. Still, with the appropriate knowledge and careful planning, you can place yourself in a position to earn a fantastic living.
Day trading has been characterized as little more than "high-risk, short-term speculation" by the investing icon Benjamin Graham, best known as the author of The Intelligent Investor. However, it is now easier than ever for the typical investor to start day trading because of the growth of the internet and the online trading platforms that have followed.
To help new investors learn about day trading, we have created a general guide to help them avoid some of the losses many traders experience at the beginning of their careers. We'll go over the fundamentals of what you'll need to start day trading and the fundamental approaches many new traders utilize to capitalize on the daily price swings in the financial markets.
We'll delve deeply into the world of day trading in this comprehensive book and explain what it truly is and how you may get started.
Introduction To Day Trading
Day trading is one of the most popular trading methods. Most financial markets, including those for stocks, foreign exchange, commodities, and cryptocurrencies, have active day traders. But is it a good idea for you to trade every day? How are day traders able to profit? Do you want to begin day trading?
Unfortunately, These questions have no answer, but this chapter will clarify what you need to know before you begin day trading.
What Is Day Trading?
Day trading is a type of trading method in which positions are started and exited on the same day. This approach may also be known as intraday trading since the trading takes place on the same day. Day traders try to make money from changes in a financial instrument's price using intraday trading strategies.
The phrase "day trader" comes from the stock market, where trading is only available during normal business hours. Since their goal is to profit from intraday price swings, day traders never leave positions open overnight in this situation.
The Benefits Of Day Trading
Day trading may be a lot of fun. Here are several benefits of day trading that draw people to this activity.
Trading Strategies
You can employ various trading strategies while day trading on all significant marketplaces. Breakout, trend-following, and counter-trend trading (mean-reversion) are common day trading strategies.
When trading a breakout, traders try to profit on the early volatility that follows a price breach of a significant technical level, such as a chart pattern.
When prices hit key levels and initiate pending orders, they tend to cluster above and below those levels, which causes a spike in momentum and volatility. As pending orders turn into market orders once the price reaches the pre-specified level, breakout trading also enables day traders to set a pending order to capture a breakout once it occurs.
Chart patterns like head and shoulders patterns, triangles, double tops and bottoms, triple tops, and bottoms, rectangles, wedges, and flags are common technical indicators employed by breakout traders. The volatility that follows a price break above or below a channel, trendline, horizontal support, or resistance level can also be used by breakout traders to their advantage. As their name implies, trend-following methods entail starting day trades toward the underlying intraday trend. Considering its appealing risk-to-reward ratio and high success rate, trend-following is arguably day traders' most popular trading method.
Wait for a price decline to be complete (for example, to a significant intraday Fibonacci level) before opening a trade in the direction of the underlying trend. Then, use candlestick patterns to determine when the trend will continue.
Opening deals opposing the underlying trend is a component of counter-trend trading methods. Counter-trend traders aim to profit from market corrections that follow a protracted and significant upswing or slump. Only seasoned day traders should employ this method because it is slightly riskier than breakthrough trading and trend following.
More Trading Opportunities
Day trading gives a lot of trading opportunities every day because it is a reasonably quick-paced trading style.
Day traders primarily use intraday periods, such as the 15-min, 30-min, 1-hour, and 4-hour ones, to make decisions. This is a key benefit of day trading since those timeframes provide significantly more tradeable setups than swing and position traders' daily or weekly charts.
Remember, though, that shorter-term periods typically have greater market noise, which can cause losses to mount quickly if your stop-loss settings are too low. Try to gauge the typical volatility of the securities you're trading (using the ATR indicator, for instance) and set your stop-losses appropriately to avoid this.
There is no guarantee that more trading chances will result in more profits. Always stick to your trading strategy and only make trades that are entirely consistent with it. Be careful to only risk a tiny portion of your trading account on each trade because risk management is important to the success of day traders.
Performance Evaluation
Because day trading entails opening and closing trades on the same trading day, you receive your daily results very quickly. Day trading makes it possible for traders to know if they are making or losing money daily.
In longer-term trading methods, traders often encounter unfavorable price fluctuations. To endure these swings, traders need a larger trading account and a great deal of patience and discipline to persist with their trades even when the going gets rough. Create and maintain a trading notebook with all the trades you make daily to track your progress. You can monitor your progress and search for trade trends that often cut into your gains or result in avoidable losses.
News Overreaction
The majority of traders on markets are humans, and people have a propensity to overreact to news. For this reason, even when specific news turns out to be somewhat inconsequential for the markets, there will be significant price changes. You can benefit more as a day trader if you take advantage of that behavior.
The actual amount is not crucial when trading the news, which is the most important thing to understand. What is important is how the actual number compares to the forecast. The value of the US dollar is likely to be significantly affected if, for instance, US non-farm payrolls come in at 200k when markets were expecting an increase of only 120k.
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