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  • Simple Trading Rules For Day Trader, Swing Trader, Scalp Trader And Position Trader.

    If you are going to day trade, it's essential to have a set of rules to manage any possible scenario. Even more important, you must also have the discipline to follow these rules.

    Focus

    Day Trade Important Cycle

    It is extremely important to have utmost focus when you are trading and trying to listen to the message that tape is giving you. Try and stay in a zone and filter out the extra noise. If you are going to put a trade on, be in that trade and nothing else. This will help you feel when it is right to stay in the stock and when its time to get out.

    The three E's: enter, exit, escape

    Rule No. 1 is having an enter price, an exit price, and an escape price in case of a worst-case scenario. This is rule number one for a reason. Before you press the "Enter" key, you must know when to get in, when to get out, and what to do if the trade doesn't work out as expected.

    Escaping a trade, also known as using a stop price, is essential if you want to minimize losses. Knowing when to get in or out will help you to lock in profits, as well as save you from potential disasters

    Cut your losses and Don't let your ego get in your way

    One of the biggest mistakes many traders makes is that they get attached to their positions. In an effort to appease their ego's, they tend to take a trade and stick with it until they are right. Remember, day trading is an extremely fast game and if you do not react with speed, you will be left in the dust. When you make a decision to buy/sell a stock and the stock does not go in your favor relatively quickly, odds are that you are in a bad trade.

    Avoid impulsive trading

    Although many traders can handle winners, controlling losing stocks can be difficult. Many rookies panic at the first hint of losses, and end up making a series of impulsive trades that cost them money. If you're day trading, you must be willing to accept some losses. The key: know in advance what you'll do if you're confronted with losses.

    Don't buy the over hyped News:

    Keep a journal of all your trades

    Many pros swear by their journal, where they keep records of all their winning and losing trades. Writing down what you did right, or wrong, will help you improve as a trader, which is your primary goal. Not surprisingly, you'll probably learn more from your losers than your winners

    Practice day trading in a paper-trading account

    Although not everyone agrees that practice trading is important, it can be beneficial to some traders. If you do open a practice account, be sure to trade with a realistic amount of money. It's not helpful to practice trade with a million dollars if the most you have in your account is $30,000. Also, if you do practice trade, think of it as an educational exercise, not a game.

    Tape reading with Level 2 and Chart with indicator

    The level 2 window provides the trader with an edge. It will show you the sizes of the orders in the market makers book. While the market makers can play games with the level 2 in order to fool traders, in general you want to see high bid sizes and low ask sizes when you go long. On the flip side, you want to see low bid sizes and high ask sizes when you go short or sell out of a stock. Again, its not foolproof but it adds to the odds of your trading winning.

    (click to enlarge)

    Although anyone can learn to day trade, few have the discipline to make consistent profits. What trips up many people are their emotions, which is why it's so important to create a set of flexible rules.

    Set your goal and follow your rules and be on the right side of the trade.

    http://www.freefdawatchlist.com

    Tags: SPY, UVXY, Study
    Aug 23 1:03 PM | Link | Comment!
  • Weekly Guide For Aug 18th -22nd: KS, URBN, TJX, HD, DKS, YOKU, TGT, LOW, JASO, HPQ, SHLD, WUBA, GPS, ROST, GME, QUNR, CRM

    Earnings preview for next week

    Monday:

    Pre Market - JKS, CMGE, FSYS

    After Hours - URBN, FN, PWRD, JMEI

    Tuesday:

    Pre Market - HD, TJX, MDT, DKS, CMCM, RDEN, AMWD, CYRN

    After Hours - LZB, YOKU, PLAB, RGSE, TEDU

    Wednesday:

    Pre Market - TGT, LOW, SPLS, PETM, SJM, AEO, HAIN, JASO, EV, AMSG, EJ, VVTV, CTRN, LITB, GLOG

    After Hours - HPQ, LB, CACI, SNPS, IRF, SMTC, CRMT, PLKI

    Thursday:

    Pre Market - SHLD, HRL, DLTR, PDCO, BONT, TTC, SSI, PLCE, SMRT, LANC, CATO, BKE, PERY, NM, KIRK, CYBX, WUBA

    After Hours - GPS, ROST, GME, CRM, MRVL, SCSC, INTU, BRCD, NDSN, TFM, ARO, MENT, NWY, TUES, ARAY, AVNW, QUNR

    Friday:

    Pre Market - RY, FL, ANN, HIBB

    This week's top 20 % gainers

     

    • Technology:CSIQ (33.25 +25.92%),OVTI(27.26 +23.75%),BITA (78.36 +21.28%),ZEN(23.98 +20.19%),GRUB (40.93 +19.34%)
    • Services:MELI (109.88 +20.62%),SGMS (9.15 +19.46%),VLCCF (12.66 +18.73%)
    • Healthcare:RPTP (10.91 +33.98%),ICPT (284.7 +33.02%),EPZM (36.69 +20.84%),ACHN (9.25 +20.57%),INSY (34.75 +20.3%),ARWR (13.94 +19.83%),ALNY (67.26 +19.35%)
    • Consumer Goods:CQB (13.63 +33.89%),MPAA (28.18 +22.74%)
    • Basic Materials:KMR (101.01 +27.71%),EPB (42.92 +23.92%),KMP (98.9 +19.38%)

    This week's top 20 % losers

    • Utilities:EDN (12.3 -13.36%)
    • Services:SEAS (18.66 -32.91%),KING (13.53 -27.51%),NDLS (20.98 -22.63%),LOCO (33.36 -17.83%),RRGB (54.9 -17.08%),MEG (16.02 -14.14%),MCHX (9.24 -13.75%)
    • Industrial Goods:NES (13.55 -27.4%),CPST (1.16 -19.01%)
    • Healthcare:HGR (21.43 -27.39%),VOLC (12.63 -19.46%),OMED (17.88 -18.4%),GALE (2.53 -15.76%),MNKD (6.86 -13.28%)
    • Financial:GGAL (12.92 -13.69%)
    • Consumer Goods:KATE (31.65 -15.34%),POST (37.88 -14.54%)
    • Basic Materials:EXXI (15.74 -17.25%),MCP (2.04 -13.62%)

    Economic Calendar: (EST)

    Trade Balance: Monday, 5:00 am

    Current Account: Tuesday, 4:00 am

    German PPI: Wednesday, 2:00 am

    Manufacturing and Services PMIs Thrusday:

    Consumer Confidence: Thursday, 10:00 am

    Mario Draghi speaks: Friday, 14:30 pm

     

    Upcoming Ex-Dividends


    The ex-dividend date is the first day when buying a stock does not entitle the new buyer to the declared dividend.

    Tags: KS, URBN, TJX, HD, DKS, YOKU, TGT, LOW, JASO, HPQ, SHLD, WUBA, GPS, ROST, GME, QUNR, CRM
    Aug 16 6:26 PM | Link | 1 Comment
  • Day Trading Technique Chart Analysis For Aug 9th: POST, TKMR, SEM

    Below are the chart analysis of few hour of our day trading technique. I'll be posting in detail later how it works but the chart are self explanatory. Do email me info@freefdawatchlist.comto learn more about this technique. Check out more about our servicehttp://www.freefdawatchlist.com/p/our-services.html

    Post: Long and Short play:

    (click to enlarge)
    Day Trading Technique on POST long and short play

    SEM

    (click to enlarge)
    SEM Day Trading

    TKMR

    (click to enlarge)
    TKMR Day Trading

    More coming up. Check back later. http://www.freefdawatchlist.com/2014/08/day-trading-technique-chart-analysis.html

    Tags: SEM, POST, TKMR
    Aug 09 1:49 PM | Link | Comment!
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