Day Trading Techniques – Watch the Simple Steps I go Through When Taking a Trade

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Day Trading Techniques – Watch the Simple Steps I Go Through When Taking a Trade
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Hey Everyone,
I was on a bit of a break working on my site and some other things so I haven’t had a video up in awhile. But today I recorded every single one of my trades and planned to put them all up. In the video you can see the various day trading techniques I use when I trade. The only trade I was not able to record was one which was taken on the 6E. It ran simultaneous to another trade on the ES so I did not get a chance to record that. Overall I had a very good day and finished up with 3W and 1L on the ES. And 2 W on the 6E. These days are not common but they do happen at least a handful of times a month.

I was trading 1 contract only today as the market has been moving quite slow lately so I’ve adjusted to that by just lowering the amount of risk I have on the table to 1 contract.
Let’s start analyzing the trade. So, first off I begin by using one of the most important day trading techniques there is: analyzing what’s already happened in the market. As always we begin with an overview of the market and most importantly how it was acting in the pre-market. Once we have an idea of what it was doing we have that in the back of our mind but when it opens it’s almost like hitting the reset button. It could do anything at this point. Keep that in mind.

So, we are really looking for very clear cut and highly attractive trades. Understand that this is just my particular method of trading. If you learn from a more aggressive trader they might do something completely different from me. The trade at the very open of today’s market was a bit on the aggressive side. I felt that it had way to many unattractive things about it. So, I decided to pass.

Finally when we got a short opportunity it had everything in it’s favor and I pulled the trigger. What happened on the rest of the trade was totally unexpected considering the slow market movement. The market moving slow was to be expected since we just came back from a holiday on Monday. The movement on this particular trade was not expected at all. It popped down and took me out while I was in the middle of making the decision on whether or not to move my order down further. I can’t complain though as I banked just about 2 points.

That is equivalent to $100 with one contract.

Hope you enjoyed trade #1 of today and watch the video for the links of the rest of today’s trades. As you can see it’s easy to trade when you use certain day trading techniques to give you a higher probability of succeeding.