Day Trading Strategy – Check Out The Simple Beginner’s Strategy I Use

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Day Trading Strategy – Check Out The Simple Beginner’s Strategy I Use
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Hi Everyone,

Today was the day after contract rollover. It’s always an interesting day in terms of what the hell is going to happen here. Sometimes the best day trading strategy is to just not even bother trading. Combine that with the fact that it’s Friday and who knows what to expect on this day.

In fact on the particular day I either don’t trade or I actually do sim trade as I did above. I haven’t had real results on this day since I was a noob years ago.

So, as always I start off the day assessing the pre-market and by looking at today we can clearly see that there was not a whole lot going on. A common question I’m asked is on days like today do I vary my day trading strategy. And the answer is no. We don’t vary our strategy until we know just exactly what the market is going to do during the actual market hours.

As you can see on the chart after a brief run up the market eventually settled on an extremely strong run down where there were a total of five different opportunities. And as you can see from my chart I was only actually able to get filled on two of those.

The first one went for three points and the second one was good enough for two.

Unfortunately though I wasn’t able to get a fill on any of the others. This is truly one of the disappointing things in any day trading strategy — No Fills.

After this really strong run down we had a long opportunity which I decided to pass on. This was mainly because of the fact that the market did have an extremely strong run down. I decided to first make sure this opportunity would hold. Eventually we did get a pull back for a second opportunity which also made it to target.

Again we get another long opportunity and this one actually head faked me out of the trade. But to be honest with you I exit at this point 100% of the time. Once I actually exited there I really didn’t care whether or not the trade made it to target. That’s just part of my particular day trading strategy.

Eventually we did manage to get another pullback but unfortunately I wasn’t able to get a fill and this is pretty much where my day ended. As you can see there was a total of $312.50 made on one contract. Not bad for someone trading a beginner’s day trading strategy.

See you next week!