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Day Trading Basics – Part 2

Hello, my friend, and welcome to this tutorial on Day Trading Basics – Part 2. This post is the second part of a two-part series where we discuss the very fundamentals of day trading for beginners which work if you’re day trading stocks, futures, and Forex. Enjoy!

Was this video/post on Day Trading Basics helpful to you? Leave a message in the COMMENTS section at the bottom of this page. 

PLEASE “PAY IT FORWARD” BY SHARING THIS VIDEO & ARTICLE ON FACEBOOK OR TWITTER by clicking one of the social media share buttons.

Day Trading Basics – Part 1 Video

Day Trading Basics #1 – Trading and Working Full-time is Possible

Welcome to the second part of this day trading basics for beginners series. Today, we’re going to talk about the top three concerns that I receive regarding day trading basics for beginners and clarify them to assist you in learning some day trading techniques. These are the top three concerns that I receive most frequently. Can you day trade and still work a full-time job? The answer is yes, you can.

There are several ways in which you can do this. First, you can trade pre-market, before the market opens. For example, you can trade the e-mini futures or the euro futures, which start trading early in the morning. However, it’s important to ensure that you are trading markets that have high volume during the pre-market hours. Another option is to trade during regular market hours if your time zone and work hours allow for it.

For example, if you live in California, you can trade the futures market, which opens at 6:30 AM in your time zone. You can trade for an hour or two before you start your day job. Many professional traders only trade for a few hours a day and still make a good living. So, you don’t have to trade the entire day. Lastly, if neither of these options work for you, you can trade spot Forex.

Day Tradin Basics #2 – Use Pre and Post-Market Data

The key is to trade the markets where the sun is shining, meaning the Forex markets for currency pairs that are most active during the day. The second question is: should you use pre and post-market data on a chart? The answer is yes, but with some considerations. If the pre and post-market data has a lot of activity, then it can be useful to include it on your chart. However, if you’re trading equities, be cautious as many stocks don’t have much activity during these hours.

In that case, you may want to use two charts, one with pre and post-market data and one without, to see where gaps occur. Gaps can be very informative and helpful for technical analysis. Another option is to use tick bars instead of time-based bars, especially if you’re trading stocks with low volume. Tick bars provide more meaningful price action for analysis. The third question is: what is the best time interval for day trading?

There is no one-size-fits-all answer to this question.

Barry Burns

There is no one-size-fits-all answer to this question. It depends on several factors. First, consider the size of your trading account. You need to determine how much money you can risk per trade based on a percentage of your account. Shorter time intervals have narrower bar ranges, which means you risk less money at swing highs and lows.

Day Trading Basics #3 – Choosing the Best Time Interval

If you have a small trading account, you may need to trade faster time intervals for better money management. Second, consider the average daily volume of the market you’re trading. If a market has low volume, you may want to trade a time interval that is better suited for it. For example, the e-mini futures may be traded on a thousand tick chart, while the yen futures may be traded on a hundred tick chart due to differences in volume. Lastly, consider your own emotional aspects and how much time you need to analyze a setup and trade it confidently.

Wrapping Up!

This will vary for each individual. You can test different time intervals on a simulator or demo account to find what works best for you. I hope you found this information helpful. If you have any further questions, feel free to reach out to me.

Free Offer!

And finally, I am offering one of my favorite trade strategies called the rubber band trade. Absolutely free. And I want you to go and make some money. Try before you buy, or well, actually try and never buy because there’s no charge for this trade at all. And I’ll give you the setups, the exits, all the rules for it. It’s an objective rule-based method based on a price pattern action that I don’t think anyone else teaches.

I’ve never seen anything else teach this particular price structure. So go get that by clicking on the green icon in the top right-hand corner of the video there, and that’ll take you to a page where you can opt-in, get the video for the rubber band trade strategy, along with some other great free tutorials, one of my little mini-courses, absolutely free, courtesy of Barry Burns here at Top Dog Trading.

GET MY FREE MARKET ENTRY TIMING INDICATOR

BTW, if you’re interested in the indicator that I use personally for very precise entries and exits. I’m happy to share that with you. Just send me an email at support@topdogtrading.com, and I’ll show you how to get access to that indicator.

What did you think of this Day Trading Basics tutorial? Enter your answer in the COMMENTS section at the bottom of this page.

PLEASE PAY IT FORWARD BY SHARING THIS VIDEO & ARTICLE ON FACEBOOK OR TWITTER by clicking one of the social media share buttons.

FREE GIFT!

Also, I’m giving away one of my favorite Best Moving Average strategies that work in trading the markets. Just click on the button below, and I’ll personally send you an email with the first video.

GET MY FAVORITE TRADE STRATEGY HERE

Those interested in Day Trading Basics – Part 2 video that works in today’s markets also showed an interest in this video:
https://www.topdogtrading.com/day-trading-basics-part-1/

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Daytrading,  Technical Analysis Day Trading,  e-minis,  Forex,  Futures,  options,  Stocks,  Technical Analysis

Free Trade Strategy!

Get my favorite trade setup called "The Rubber Band Trade" on day 4 of this free 5-day Video Mini-Course: "Make Money by Breaking Every Day Trading Rule You Ever Learned".

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These results are based on simulated or hypothetical performance results that have certain inherent limitations. Unlike the results shown in an actual performance record, these results do not represent actual trading. Also, because these trades have not actually been executed, these results may have under-or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated or hypothetical trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to these being shown.

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We do not imply, predict, or guarantee that you will be successful in earning any money whatsoever. If you rely upon any figures or information on this site, you must accept the risk of substantial trading losses.

Past results of any individual trader are not indicative of future returns by that trader, and are not indicative of future returns which may be realized by you. Neither the author nor publisher assume responsibility or liability for your trading and investment results. This site and all information therein is provided for informational and educational purposes only and should not be construed as investment advice. The author and/or publisher may hold positions in the stocks, futures or industries discussed here. You should not rely solely on this Information in making any investment. You need to do your own independent research in order to allow you to form your own opinion regarding investments and trading strategies.

It should not be assumed that the information in this website will result in you being a profitable trader or that it will not result in losses. Past results are not necessarily indicative of future results. You should never trade with money you cannot afford to lose.

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This information is provided “AS IS,” without any implied or express warranty as to its performance or to the results that may be obtained by using the information.

Factual statements in this site are made as of the date the information was created and are subject to change without notice.

Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs, in general, are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown.




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