The 10 Best Day Trading Strategies of April 2023


I use it every day and it now offers broker integration with several brokers. It’s designed by traders and a powerful trading platform. Or add the Breaking News Chat and get both for just $17. Newbie day traders have a tendency to see potential trades everywhere. They’re tempted to jump in and out of all kinds of trades without direction or a plan.

Just a few seconds on each trade will make all the difference to your end of day profits. The following strategy ideas rely on charting techniques. They can be tweaked and amended to suit a range of markets and assets. XTB is one of the largest stock exchange-listed FX & CFD brokers in the world, offering access to over 2100 instruments on their xStation platform. Live streams Tune into daily live streams with expert traders and transform your trading skills.

Can you Get Rich From Day Trading Stocks?

Your chosen Day trading strategies not only needs to offer competitive fees, but heaps of forex markets and of course – support for your preferred payment method. One of the best forex day trading systems to consider as a newbie is to sign up for a signal service. For those unaware, forex signals are offered by seasoned currency traders that perform technical and fundamental analysis throughout the day. Another great strategy to consider as an inexperienced forex day trader is to avoid minors and exotics and instead focus on major pairs.

Yes, it’s fine to get information from a number of sources. But ultimately, you’re the one responsible for the trade. Day trading will never come risk-free, but having a plan in place will definitely help you to reduce these risks. VantageFX VFSC under Section 4 of the Financial Dealers Licensing Act that offers heaps of financial instruments. All in the form of CFDs – this covers shares, indices, and commodities.

Futures Trading Strategy

The next tip on our list of the best day trading strategies is to ensure that you understand orders. By this, we are talking about trading orders that you place with your online broker. In other words, orders to your broker what position you wish to take in the market. By keeping an eye on the business news, day traders can capitalize on popular daily stories. The available research on day trading suggests that most active traders lose money. Fees and overtrading are major contributors to these losses.

The Failed Trend Reversal – A pattern that results in swift price moves – TradeThatSwing

The Failed Trend Reversal – A pattern that results in swift price moves.

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Frequently Asked Questions About Day Trading Stocks

They may also sell short when the stock reaches the high point, trying to profit as the stock falls to the low and then close out the short position. You may have a run of luck, especially if the market’s in a sustained bull run. But you’ll need to see how your trading strategy performs when the market gets rough, especially during a recession, before expanding your efforts. Once you become consistently profitable, you can assess whether you want to devote more time to trading.

  • You’ll learn how to start trading by taking this unique course with myself.
  • Alternatively, you enter a short position once the stock breaks below support.
  • Many of them enhance the risk by employing margin and leverage to boost their returns.
  • Every pros has at least a few favorite strategies that he falls back on again and again.
  • Due to the short-term disposition of day trading as a whole, day investors can place dozens of individual orders each and every day.
  • Stock indices group together the biggest and most important companies in the world.

Like we touched on earlier, a great way to keep track of your tried and tested strategies is to keep a trading diary to look back on when you need it. It’s always a good idea to put a spare amount of trading funds to one side. This should be an amount you aren’t too afraid to lose. There’s always the chance though that the price of corn will drop throughout the next year, and so the market price falls. Ith so many options, it is important to note that only a select handful are liquid enough to give you decent intraday gains.

Build a watchlist with stocks that have the potential for trades down the road. If you peek at a day trader’s computer screen, you’ll probably see a bunch of stock charts. You might think day trading stocks is scary and complicated, but with a proper trading strategy, it doesn’t need to be. The goal is still to buy low and sell high but in a much shorter window. A day trade could last 15 minutes, or it could last an entire trading day. If you’re one of them and new to the trading game, you may be looking for strategies that could help you become a smarter day trader in any market.

Day Trading Strategies You Need to Know

This means that irrespective of how successful you are – you will never risk more than 1% of your trading capital. Furthermore, the best forex brokers in this space will allow you to day trade with leverage. This allows you to boost the value of your stake, which in turn, can turn this little profitability into lucrative gains. You do, however, need to ensure that you learn the ins and outs of technical analysis to succeed in the forex day trading scene. Forex day trading involves buying and selling currency pairs with the view of making short – but frequent profits.


Breakout trading strategies are focused on buying a stock immediately after it overcomes a significant resistance level. Losing money scares people into making bad decisions, and you have to lose money sometimes when you day trade. Having an exit plan for each of your investment holdings is important because it helps you avoid making an emotional decision when you need to make a rational decision.

One of the most critical practices at this time is to keep a journal to record all trades throughout the day and a record of wins and losses. Bitcoin and Ether are the two most popular cryptocurrencies with traders. Over the past few years, cryptocurrencies have attracted many new trading enthusiasts, partly due to their novelty, but also because of their exceptional volatility. In addition, trading cryptocurrencies has become much more straightforward than it used to be. In the Challenge, you’ll have access to thousands of videos, DVDs, webinars, and plenty of other learning tools. You’ll also have access to an engaged community of like-minded traders who are learning and motivated, just like you.

Day Trading Stocks: 7 Strategies Traders Need to Know

You not only have to invest in education, but you also put your money at risk every day. No other trader will be your true friend because you are competitors. There is no fixed monthly salary, and day trading doesn’t come with any guarantees either.

Volatility is how much the price of an asset will fluctuate on a given day. More volatility means more potential profit, but also more risk. It can be easy to get emotional and react thoughtlessly to either good or bad news when you are day trading. Instead, stick to your strategy when deciding to either buy or sell. Logical decisions are more profitable in day trading than emotional ones.

time to learn

If you’re based in the West but want to apply your normal day trading strategies in the Philippines, you need to do your homework first. It’s particularly popular in the forex market, and it looks to capitalise on minute price changes. You will look to sell as soon as the trade becomes profitable.

There are software packages that help create and graphs for the purpose. Combined, these tools provide traders with an edge over the rest of the marketplace. She spends her days working with hundreds of employees from non-profit and higher education organizations on their personal financial plans.

There’s plenty for you to brush up on when you’re not taking trades. To help you find your fit, take in this list of trading strategies. You’ll also get some scanning tips and tricks to help you figure out what can work for you.

Taking advantage of small price moves can be a lucrative game if it is played correctly. Yet, it can be dangerous for beginners and anyone else who doesn’t adhere to a well-thought-out strategy. They usually have in-depth knowledge of the marketplace, too. Here are some of the prerequisites required to be a successful day trader.

European Stock Market Elliott Wave Trading Strategies – FXStreet

European Stock Market Elliott Wave Trading Strategies.

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At the same time, you purchase shares of a stock, you automatically sell a call option on the same shares at a higher strike price. Essentially, to collect the premium from writing the calls in addition to the sale of your shares. A covered call is an options strategy that allows you to buy a stock and sell a call option at the same time. If the price of the stock goes above your $12 strike, you are in the money.

The long-term trend shows how the stock has behaved in the past and suggests how it should behave in the immediate future. Some strategies are designed for premarket trading, where traders participate in price movements outside the regular trading hours. Day traders often monitor the relative volume to identify stocks before they unfold their whole price movement potential. During the trading day, day traders often look at the most volatile stocks and scan for short squeeze stocks with high momentum. The initial amount of money you need to start day trading forex mostly depends on your goals.

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Therefore, you may be able to grab a substantial profit in just a short amount of time. This strategy aims to profit from selling short when a stock that has been driving sharply higher runs out of gas and turns to the downside. The momentum fade trading strategy offers the benefits of being relatively simple and low-risk.

For instance, majors attract the most liquidity, which in turn, means that spreads will be much lower than other pair types. In fact, many ECN brokers in the online space allow you to trade major forex pairs at a spread of 0.0 pips. The liquid major pair in the forex market is EUR/USD – which will see you trade the exchange rate between the euro and US dollar. Other popular major pairs include GBP/USD, USD/JPY, and USD/CAD. All of the aforementioned pairs have a number of core characteristics that are highly suited for newbie traders.