Forex trading plan example

This article will show Forex trading plan examples.

What are your trading goals?

Yes, I love to make money, but should be more focused on the forex trading plan, discipline, trading systems and financial management.

Some successful traders earn 3% a month in forex markets. So my trading goals are 3% a month in forex markets.

What types of trading you are interested in?

I like grid trading strategies.Therefore I always pick range markets. Basically I would choose AUDUSD or USDJPY.

what are you forex trading strategies?

Surely I would use grid trading strategies and multiple time frames,daily chart and 4 hourly chart.

What proportion of your account are you prepared to risk on each trade?

About 50% of my account and I will fund my forex account with $10000.

How many positions am I prepared to run at any one time?

0.01 or 0.02 lots.

What is the maximum account exposure I am prepared to accept?

The max account exposure is $1500.

How are you keep records of your forex trading?

Some beginners always neglect this aspect of the forex trading plan.However Successful day traders write a day trading journal every day.

I will write day trading track records and day trading journals.

A day trading journal includes:

First every day I will look out the forex news events.For example,US presidential elections 2016.Some successful day trader would avoid day trading. 

Forexfactory has a calendar with all the red news.


US presidential elections 2016 EURUSD 1H chart from ctrader

Second analyze the general trend by looking at the weekly or daily chart.Because the successful day trader also read the daily chart.


For example USDJPY daily chart is in downtrend.

USDJPY daily chart down trend

Third have to pick the currency pair that get best positive interest paid by broker.

It is the forex trading plan example.

Creating a forex trading plan is a simple task. As a beginner have to build your own forex trading plan before jump in the forex markets

More reading Formatting Your Trading Journal for Success

Day trading plan sample

Successful day traders set a day trading plan to guide trading business. In this article,we'll take a look at the day trading plan sample.

First how many currency pairs/stocks will day trade?

Successful day traders will trade only one currency pair. For example EURUSD.

Second what is daily/weekly/monthly goals?

Some day trading beginners believe that they can make a lot of money. But I suppose set daily goals will apply pressure and increase odds of making a bad day trade. 

A beginner would base daily/weekly/monthly goals on day trading strategies. For some successful day traders 1% a month is possible.

Third What is the over all, big trend? And how do you pick day trading entry points?

1.Analyze the general trend by looking at the weekly chart. I suppose even a day trader should read the weekly chart. Now let's take a look at a few examples.

EURUSD weekly down trend and range from ctrader

Now only sell the EURUSD at the resistance level.

2.Use the 30 M chart to look for day trading entries. And sell the EURUSD at the lower-highs. The price bounce off the resistance level.

EURUSD 30 m chart from ctrader

Fourth how do you manage positions/grid trading strategies or position sizing strategies?

I'm a fan of all kinds of grid trading methods. I'd like to describe it. Grid trading system may be the best position sizing strategy.

1. sell 0.01 unit at 1.1060
2. Sell 0.02 units at 1.1080
3. Sell 0.03 units at 1.1100

Also You can of course get creative with it.

1. Sell 0.01 unit at 1.1060
2. Sell 0.01 unit at 1.1080
3. Sell 0.01 unit at 1.1100

Fifth how do you pick day trading exit points?

1. Close 0.03 units at 1.1080
2. Close 0.02 units at 1.1060
3. Close 0.01 unit at 1.1050

Also close 0.06 units at 1.1160

Sixth demo day trading. And sticking to your own day trading plan.

Practice,practice,practice. The more you demo, the more you can.

At last when successful day trader aren't day trading, they are practicing, working out, studying their opponents, preparing, preparing, preparing.

So the day trading beginners also research new day trading strategies, review performance, work on goals. And keep a day trading journal.

More reading The art of learning how to not trade

Best day trading plan

In this section we'll show the best day trading plan.

Why am I online stock day trading again in 2017?

Day trading is a freedom job. But I'm not going to begin day trading for a living. Because it is risky.

Only follow the day trading plan can make money. In addition I enjoyed the day trading business.

What factors might affect stock day trading?

I believe stock day trading is a part-time for beginners. So you have to plan time effectively. Usually every night I will write a day trading journal and stock observation card.

Day trading is a serious business,so I won't try day trading if I am angry or happy.And I will prepare two day trading computers.

What stocks am I going to day trade?

Beginning online stock day trading traders should only be focusing on one stock.Because your margin is limited.

I am going to trade Microsoft or Bank of America.

Why these stocks? What specific stock day trading strategies will I use?

They have high liquidity and volatility.

As a day trading beginer,I will use the following strategies:

• Grid trading strategy/martiangle trading strategy
• Buy in an uptrend/trend trading strategy



Bank of America in an uptrend from etoro

How Much Money Am I Going to Allocate to Each Online Stock Day Trading Strategy and Setup?

If you have $10000 funds,will divide that into thirds.Per lot is $100.Obviously don't use full amount of funds.

How Am I Going to Track and Rank My Online Stock Day Trades?

Every successful day trader has day trading track record.And day trading journal.But beginners do not pay attention to these trading tools.They are only interested in money.

1. Account Balance
2. Stocks or currency pair
3. Buy/sell
4. Price bought or sold at
5. Cost
6. Lot size
7. Find the weakness.Did I jump in too soon?Did I chase?

More reading New Year, New Trading Plan: Ask Questions and Don't Skimp on the Answers!

Day trading entry exit strategy

As you probably already know, success in forex day trading depends entirely on how to find entry and exit points, trading psychology and risk management. Now I am going to show day trading entry exit strategy.

First, I hope to correct some misunderstanding and practice

Many beginners think they can make big profits in forex as long as identify great trade entries and exits. 

I think that is completely wrong!

Veteran traders always treat trading like it is a business and run it on principles. They will use position sizing strategy, write a day trading plan, checklist and keep a journal excel.

Second, finding an entry and exit point starts with a day trading checklist 

A day trading checklist can help you identify entry and exit signals. If you don't have it, you won't take your trading to the next level

• Is the daily chart an uptrend or a downtrend? I will draw a trend line to identify the major trend on the daily chart.
• Where is the support and Resistance levels on the daily chart? If you found a horizontal support and resistance line, you would use a range trading strategy.
• Is the 30 Minute chart an uptrend or downtrend? I will use the multiple time frame analysis to find the entry and exit points.
• Are there any new releases from the Dailyfx Economic Calendar? Sometimes the markets move so much after the a major news release. So, many veterans focus on the Dailyfx Economic Calendar.
• How about my leverage in forex trading? Many experienced traders use low leverage. Personally, I use a leverage of 1:10.
• Should I enter this Forex trade? The Forex trading checklist is like a simple day trading plan. If you wanted to succeed in forex, you would build a Forex trading checklist.

Third, using forex indicators to find entries and exits

1. Moving average crossover strategy
2. MACD trading system
3. RSI indicator trading system
4. ADX trading system

Fourth, trading using random entries

Fifth, buy the higher low and sell the lower high

Sixth, using grid trading strategy to identify the entries and exits

• I trade GBPUSD on the 4 hour chart
• My grid spacing is 47 pips
• My grid lot size is 0.01 lots
• My take profit is 47 pips and can't set stop loss order.
• I place buy limit orders near support lines
• I place sell limit orders near resistance
• Every day I will set new forex limit orders
• When the forex market is trending, I will use a buy-and-hold strategy.

By the way, similar strategies are martingale trading and pyramid trading systems.

These are my day trading entry and exit strategy. Next I will show how to keep a day trading journal.

At last, building a day trading track record to improve your trading performance

Many beginners just want to make extra income. They never keep a day trading journal. As a matter of fact, veteran traders believe that it provide a way to self-coach and improve on their own.

More reading Pure Risk to reward trade System - 1 to 3- Totally random entries

Simple day trading business plan

It is said that trading is a business and run it on business principles. Therefore, in this article, we're going to look at a simple day trading business plan for beginners.

First, why do you want to be a day trader? 

I love day trading. I'd like to challenge myself with the new trading strategies.

Second, what are you daily trading goals?

Many day trading beginners just want to make money in stock or forex markets. They always set their daily goals about 10%.

However, successful day traders will make 0.1% per day on the $10000 capital.

Second, which market to day trade? Stocks, Forex or Futures?

As a day trading beginner would pick forex markets and only focus on EURUSD or USDJPY.

Fourth, where is your day trading entry and exit point?

1. I think the grid trading strategy is easy and simple to use. Because I don't need to find the exact entry and exit points.
2. I will open a $10000 live trading account.
3. My grid level is 15 pips.
4. 1 mini-lot on every trade.
5. My take profit is 45 pips and stop loss is 25 pips.
6. I will use a trend line to identify the major trend on the daily chart.
7. If there is a downtrend, I will use the one direction grid trading and only sell near resistance.
8. Once I have identified a ranging market, I will use the bidirectional grid trading strategy.

sell near resistance

use the bidirectional grid trading strategy

Fifth, I will open a demo account, it is a simple way to test my grid trading strategy.

At last, there is no shortcut to success. So if you don't create a simple day trading plan, you will not make more money as a day trader. Now it's time to write your day trading business plans.

More reading 5 position sizing techniques you can use in your trading system 

Best day trading films videos

Keep learning and stick to accept new day trading education is the best way for all professional day traders to adapt to the market. 

In this article, we'll show you the best day trading videos or films. I believe there are several day trading secrets to success.

First Discovery videos : manhunt by Joel Lambert

Former Navy SEAL Joel Lambert against the world's most experienced hunting and tracking units.It is a great video on escape strategies for day trading beginners.

He will show you the details of the escape skills.

First of all,you should establish escape plan.In my opinion,every beginner should make a day trading business plan because it can guide your practices.

Visit more day trading business plan:
Super trader:make consistent profits in good and bad markets by Van K.Tharp

Secondly you should realize your strengths.You must have faith,know you are right,must be able to achieve success.

Eventually you should evade the risk.Not only Seals need to avoid the enemy's Chase,but also successful day traders need to avoid risks.

I am convinced that successful day traders need to realize yourself,make a day trading business plan,design day trading systems,money management (position sizing strategies).

Second The Great Raid (2005)

Third The Next Three Days (2010)


Fourth Inception (2010)

Fifth Jiro Dreams of Sushi (2011)

As a day trading beginner,How do you look at the day trading job? A Japanese chef tells us about
his successful career.He has been running a Michelin three-star sashimi restaurant for 50 years.
So as a day trading beginner should also have a down-to-earth work attitude.

Sixth Learn to dance Waltz for beginners.

It is the best guide for day trading beginners.You should learn to adjust position size.

The way you count the Waltz is 1,2,3 – 1,2,3.All the beats in the Waltz are equal and the tempo is usually slow.

Many day trading beginners start by immediately risking the full amount of funds.

The way you count the day trading is 1,2,3 -1,2,3.All the beats in the day trading are equal and the tempo is usually slow.They are the most fundamental basic day trading steps.

For instance firstly margin should be divided into 3 parts.Buying google stock for the first time can use very small position size - 10%.

Buying google stock for the second time can use the position size - 20%.

Buying google stock for the third time can use the position size - 30%.

Seventh Schutzengel actor:Tilman Valentin Schweiger 2012

Eighth The Wild Geese 1978

Day trading strategies for beginners

For two decades I used primarily grid trading strategy and moving average strategy in day trading market. Therefore, today I will show my day trading strategies for beginners.

1. Day trading is not for all traders. We should find the trading style that fits our personality.
2. The reason many beginners fail on day trading is that they can't pick the perfect stocks, currency pairs and futures. So we should choose the right market start the day trading business.
3. Many beginners think there must be a simple day trading strategy can suit every day trading market. I think it is as if it does not exist.
4. We have to improve our risk management, except for developing the day trading system.

If you want to establish a day trading strategy, you have to consider six things:

First, which currency pairs to choose while day trading? After the demo trading, I found myself good at trading USDJPY and AUDUSD. 

Second, which time frames to watch while day trading? I'm a day trader, so I will choose the four hour and one hour chart.

Third, which indicators you will use?

• I will use a trend line to identify the major trend on the four hour chart.
• I will use the average directional index to determine the strong trends.
• I will use the relative strength index to spot the overbought and oversold on the one hour chart.

Fourth, many beginners always take one position at a time. So I will trade with the grid trading strategy. 

• use a lot size of 0.1 per trade.
• Decide the grid level is 15 pips
• Once I have identified an uptrend, I will only use the one direction grid trading strategy.
• Once I have determined a ranging market, I will use the bidirectional grid trading strategy.

Fifth, many beginners can't follow the day trading rules. They just want to make profit from forex. Therefore, I will write down my day trading tips and rules.

Finally, if I have built a forex day trading checklist, I can practice the day trading strategy on a demo account.

Now I am going to show you the best Intraday trading strategy.

Day trading with only the 20-period moving average

When you see it, you can feel very amazed, because you are certain, believe not quite. Yes, I am going to day trading with only the 20-period moving average.

My first day trading goals will be to keep it simple stupid!

First, I will use the 20-day moving average to identify the main trend on the 4 hour chart.

Second, once I have identified an uptrend on the 4 hour chart, I should decide to go long a currency on the one hour chart.

Third, Once I have identified a downtrend on the 4 hour chart, I should decide to go short.

Fourth, when the day trading markets are mixed, I will close all positions.

At last, I think a moving average line is a easy way to find the general trend in day trading market.

Now you must open a demo account and practice your own day trading strategies

Further reading: Learn Forex: The 200 Day Moving Average

Grid trading forex system

Day trading strategies that work

I believe you are looking for day trading strategies that work. Here's how to make money with them.

Beginners could find many day trading strategies online. For instance: momentum day trading strategies, Reversal trading strategies or news trading strategies. 

But you may wonder why I still can't make consistent money in day trading market.

Developing a day trading strategy that fits your personality

All beginners are just copying popular day trading systems. They would never try to understand the advantages and disadvantages of trading systems. In fact, it's best only when it fits you.

For instance, I often use grid trading system on the one hour chart. I suppose it can work really well in range market. However, its disadvantages are also obvious.

1. If the trend continues, it will blow up the forex trading account.
2. It won't make enough money, because you will place multiple trades instead of placing one trade.

Therefore, I will write day trading checklist every day. It can help me identify the direction of the trend.

Now, you must open a demo account and practice your day trading systems. Only in this way can find the best day trading methods.

Finding the right currency pair to match your trading system

Best day trading method alone is not enough. You must find the best currency pairs to trade.

In my opinion best pairs to trade with are EURUSD, GBPUSD, AUDUSD, USDJPY. They are work well with moving average crossovers.

If I am going to use the grid trading system, I will trade GBPJPY

At last, all day trading strategies should written into day trading business plan.

More reading: How to trade GBPJPY without losing your shirt

Day trading strategies using price action patterns

In the day trading market, price action patterns may better than using indicators. Because they can help you understand when to buy and sell a currency pair more quickly. Here are my best price action strategies for day traders.

Trend lines in price action

I think trend lines can help you read the price action. It is especially important that you can identify the direction of the trend. 

1. As long as prices remain above the trend line, the uptrend will continue.
2. As long as prices remain below the trend line, the downtrend will continue.
3. If the price breaks through the trend line, I will use the reversal trading strategies.

Support and resistance levels in price action

If you use forex grid trading strategy, you will achieve the phenomenal success that I have felt.

1. If the price bounce off the support or resistance lines, I am going to buy low and sell high when day trading.
2. If the price passes through the support or resistance lines, I will day trading with moving averages.

Other best price action patterns for day trader

In day trading market, I often use the following price action patterns.

1. Head & shoulders
2. Double bottom or double top pattern
3. Rounding top & rounding bottom
4. Bullish & bearish engulfing bar
5. Pin bar

My day trading strategy here is to write a day trading checklist before every trade. This includes all my best price action patterns.

• If I determine the direction of the trend, I will use the moving average strategies for day trading
• If I find a range-bound market, I am going to use the grid trading strategy.

Day trading breakout strategy

My favorite strategy here is forex day trading breakout system. I think you must have heard of it! Now, let's get started.

First, choosing the best currency pair to match the day trading strategy

I believe it can only be done with proper currency pairs. Therefore, I will use the following for day trading breakout:

1. EURUSD
2. GBPUSD
3. USDJPY
4. USDCHF

Second, choosing the best chart time frame

I mainly use one hour & four hour chart because I am most familiar with them.

1. I will use a trend line to identify the main trend on the 4 hour chart.
2. I will find a day trading entry and exit point on the one hour chart.

Third, my day trading indicators you must know

1. I will use the trend line to enter and exit trades
2. I will use the ADX indicator to determine the strength of trends.

Here is my day trading breakout strategies example:

Now I am going to day trade GBPUSD.

First, I will use a trend line to identify the main trend on the 4 hour chart. On January 12, I will enter a long position after the price break out above the resistance line and ADX indicator readings above 30.

Second, I will find the day trading entry and exit points on the one hour chart.

1. If the price breaks out a horizontal resistance line, I will buy 0.03 at 1.3679.
2. As GBPUSD break the rising trend line is showing bearish market.

Third, I will set my stop loss order at 1.3601.

Finally, I would like to say.

1. Day trading may not right for you. So you had better to open a demo account and test your day trading breakout strategy.
2. If you want to spot breakouts in time, you can create price alerts on the Metatrader 4 platform

Best day trading forum sites for beginners

Although you can read a lot of resources on day trading forum sites,I advise you don't follow the day trading Forum news.

Firstly day trading forum news won't help you make money, they are just to express their views.But those standpoints will affect your day trading.

Secondly day trading is a business.So you should set a day trading plan.You can find many trading plan template resources on day trading forum sites

Thirdly as a day trading beginner, you have to have serious work attitude.Every successful day trader have stock quotations and trading log.How about you?

Fourthly practice,practice,practice! Demo trading can familiarize yourself with day trading systems and markets.So demo trading can help you make money.

Sixthly day trading is a business.Reading the popular blog post ideas or day trading forum sites don't help you make money.You should focus on day trading strategies.

More reading traderfeed.blogspot.com

1. stocktwits.com

2. trade2win.com 

3. elitetrader.com

4. Forexfactory.com

5. The ticker tape blog

Day trading entry techniques

The following day trading entry techniques will help traders find high profit potential, low risk day trading entry points.

First, use trend line for a day trading entry point

I think every beginner can draw a trend line on the chart. (shown below)

1. If the price could break out the falling trend line, you can identify a good day trading entry point.
2. If it bounces off resistance line, you should look to go short.

Second, looking for day trading entry points using support and resistance levels

I think how to trade support and resistance levels is the basics of day trading.

1. When the price passes through the support and resistance lines, you can play breakouts.
2. When it would rise after bouncing from a support line, you can decide to go long.

Third, using grid trading strategies to find entry and exit points 

I place multiple trades forming a grid pattern without guess the direction of the trend.

Although, many day traders think hedged grid trading strategies can not make a lot of money, I think it is the best day trading strategy 

For instance: the grid trading will work in range markets. I want to set up a grid on GBPUSD.

On the other hand I will use 0.01 to 0.02 lots for a $3000 account.

A few words of caution…

1. All the day trading entry techniques come from demo trading. It can help you build confidence and find a weakness.
2. Just focus on one currency pair. Then practice, practice, practice. whatever job, need to constantly practice.

Further reading Simple Way to Trade Trendline Breakouts

Forex day trading tips for beginners

Below is my Forex day trading tips for beginners. Like any business, day trading must begin at the bottom of the ladder. All the greats start out in day trading log and demo.

Day trader's attitude

• If beginners want to forex day trading, there must be a down-to-earth working attitude. 
• Many day trading beginners have failed partly because they are only interested in making quick money
• I think a positive, professional attitude can help you create successful in the trading. 

More reading Jiro dreams of Sushi

Day trading quotes

Jiro Dreams of Sushi quotes can be used in forex day trading. You should read them. 

Once you decide on your occupation... you must immerse yourself in your work. You have to fall in love with your work. Never complain about your job. You must dedicate your life to mastering your skill. That's the secret of success... and is the key to being regarded honorably.

I do the same thing over and over, improving bit by bit. There is always a yearning to achieve more. I'll continue to climb, trying to reach the top, but no one knows where the top is.

These days the first thing people want is an easy job. Then, they want lots of free time. And then, they want lots of money. But they aren't thinking of building their skills. When you work at a place like Jiro's, you are committing to a trade for life.

Forex day trading is a boring job

Successful day traders do repetitive work every day. They will stick to the rules when day trading.

• Write a day trading business plan.
• Write a day trading checklist before every trade.
• keep day trading journals excel.
• Learn to trade forex with a demo account.
• Develop a solid, profitable forex day trading systems that fit your personality.
• Manage risk when trading FX

At last, forex day trading require enough money, at least $100000. You'll likely have to save up money.

Forex day trading strategies

After you have written a forex day trading plan, you must develop solid day trading strategies. Now let's learn together, how to day trade.

Best grid trading strategy

A lot of day traders never used forex grid trading strategies. They believe it can blow up their trading account.

In fact, it is a very profitable strategy. I will mainly discuss the one direction grid trading system.

Forex grid trading strategy setup

First, selecting the best pairs to trade. I want to stick with the major pairs or GBPJPY.

Second, choosing the best chart time frame for day trading. Usually, I will use the one hour chart, 4 hour chart.
.
Third, choosing 3 forex indicators. They are ADX, RSI and moving averages.

Fourth, writing a forex trading checklist before every trade. It can help me find day trading entry and exit points.

Running my day trading strategy

First of all, I will use multiple time frame analysis to find better entry and exit points.

Second, if I have identified the direction of the trend on the 4 hour chart, I will use one direction grid trading system on the 30 minute chart.

Here is my USDJPY example:

Through the 4 hour chart I have found that the price break below the trend line. So I will choose the one direction grid trading on 30 minute chart.

• My grid spacing is 20 pips
• My grid lot size is 0.02 lots
• My take profit is 40 pips and set a static stop of 50 pips on every position.
• I place buy limit orders near support lines 
• I place sell limit orders near resistance
• Every day I will set new forex limit orders.

Forex day trading rules

Only when we follow closely the forex day trading rules, we will make money in trading business. Now let's talk about my basic rules of one direction grid trading.

Explanation of grid trading:

• I will deposit $2,500, starting lot 0.01, Max Open Order 15
• 50:1 is the best leverage that I should use.

Define and trade with trends

I often use the following tricks to determine forex trends. 

• Use my eyes to feel the market.
• Draw a trend line to identify the main trend
• Use moving average crossovers to enter trades
• Use Bollinger bands to gauge trends
• Use ADX indicator to identify trend

Then I will put these FX indicators into a Pre-trade checklist. I think it can help me find day trading entries and exits.

Let me repeat that: I will write a day trading checklist every day. It can help me identify the main trends.

Find entry and exit points

• If I have identified the uptrend on the 4 hour chart, I will only look for buy signals.
• If I see that the pair is clearly in a downtrend on the 4 hour chart, I should only find sell signals.
• If I defined a currency pair is in a range-bound market, I have to be patience.

Use stop-loss and take-profit in grid trading

• Only I have identified the trend reversals on the one hour chart, I will close out all my positions.
• I will use a 50 point trailing stop on every position.

Forex day trading rules

Forex day trading rules can help beginners design trading business plan, day trading systems and start day trading.So that you can make money in the forex markets.

First of all don't use all the available of funds which helps you fight the greed factor. 

Second just focus on one currency pair. Forex Day trading beginners like to buy various currency pairs.It is equivalent to using all of the available funds.So you must limit the number of options.

Third under pressure play the right trade.Maybe every successful day trader will encounter stress.Please Instead of thinking about winning the match and knowing the pressure of the point.The successful day trader must remember what will get him to victory, and that is consistency and aggressiveness.

Fourth set a forex day trading business plan.Many day trading beginners never develop a day trading and emergency plan.A day trading is a long arduous struggle that has a momentum and changes. Generally day trading is determined by subtle strengths and weaknesses in mental toughness or physical fitness.The day trading business plan aids to evaluate your own game and to learn how to scout and play your opponent. So day trading beginners must set plan before day trading.

Fifth forex day trading systems should be tailored to the market and setting.First of all you should analyze the present market in a day trading journal.And then decide what systems to use.

Sixth the successful day trader strives for consistency and to reduce errors.For instance you should set the day trading business plan in advance.Don't try to win the game.

Seventh trade with purpose.The successful day traders understand that more trades are lost than won. Understanding this enables them to avoid the high risk trades and consistent with a purpose. The more important rule is being able to trade the right shot at the right time.

Basics of forex day trading rules for beginners:

1. Don't use all of the available funds
2. Just focus on one stock
3. Under the pressure play the right trade.Forget the winners that your opponent trade just play.
4. Play with a day trading plan.The advanced trader watches what his opponent does and keeps a record as to what he is avoiding.
5. Day trading systems should be tailored to the market
6. Keep moving and aware of your balance.The veteran traders use position sizing strategies.So you should learn to adjust position size.
7. Strive to trade technically correct shots during the day trading.
8. Visualize your shots as you trade them, mental pictures produce physical results.It is a veteran trader skills.
9. What's more day trading rules are different between every stock.Specifically day trading systems should be tailored to the stocks.
10. Also as a day trading beginner should choose a good liquidity and volatility of the stock.Because it offered the best price.
11. hedging stock positions.It is the successful day traders skills.If you aren't ready to hedge positions, at least reduce position-sizing.

More reading :the rules of gambling

Day trading stocks for beginners

Remember that everyone in the stock market is smarter than you.And day trading require a lot of work and sometimes a lot of dedication before seeing a return on your time.In this article,we will take a look at day trading stocks.And how to day trading stocks for a living.

First as a beginner set some day trading tips.

1.Don't expect to make money in the stock market.The successful day trader has stock observation card and day trading journal.Because day trading is a business,would have a serious work attitude.

Day trading stocks track record card for beginners

More reading best day trading books

2.Day trading is a lucrative business, but also fraught with risks.So consider the risks.Don't use all amount of funds.Moreover you can only focus on one stock.

3.Set a day trading business plan.Day trading systems should be tailored to the stock and setting.

4.Position sizing strategies.Some successful day traders use kelly formula.And I advise you use half-kelly.

More reading How do you limit drawdown using kelly formula.

5.As a day trading beginner would first pick a high volatility stock.Then Obviously you have to decide the general trends.And the global stock market trends.We rely mainly on the 2 indicators:

• The ADX indicator reads above 20
• The price above or below the 25 EMA.

6.At last practice,practice,practice,I can't say it enough! Demo day trading stocks can learn more about yourself.After 100 demo day trades and get 1% profit every month and you can start day trading stocks career.

Day trading stocks strategies for beginners

Now we'll show the day trading strategies.It includes:

1. Multiple time frame trading strategies
2. Grid trading strategies
3. Asset allocation

Multiple time frame trading:

The first day trading stocks example is NASDAQ: Microsoft

Day trading stocks for beginners MSFT monthly chart from sina

First of all even daytrading would analyze Microsoft monthly chart. It's in an uptrend.So as a beginner would only buy.

More reading how to reading a chart

Second read the Microsoft weekly chart.Looking for support and resistance level.You would start day trading based on support levels.Or trend lines,exponential moving average,Fibonacci levels,52-week low,pivot points.

• The resistance level $58.7
• 52-week high $58.7

So $57.25 is not a best day trading entry point.You have to find the entry points on support levels.

• The support level $50
• 52-week low $47
• The support level $56-$53
  

Day trading stocks MSFT weekly chart from sina

Thirdly read daily chart and 30 M chart.Also you should pick entry and exit strategies.

Grid trading strategy/Martingale strategy:

So you'd better firstly buy 100 shares of $MSFT at the $56 market price.Then the second buy 200 shares of $MSFT at the $55.At last you can close out 200 shares at the $56.And 100 shares at the $57.

Best day trading stocks to watch

Here I list the best day trading stocks.As a day trading beginner,I advise you only pick one stock.

First NYSE:GM Use the "buy low sell high" strategy.

• Support level $27.5-$30 and resistance level $32-$35
• 52-week low $26.69 and 52-week high $36.88

Day trading stocks General Motors Co beginners from etoro 2016

Second NASDAQ:AMZN Use the "buy in an uptrend" strategy.

• Support level $790-$800 and the second support level is $700-$750
• 52wk range $474-$847.21

Day trading stocks Amazon beginners from etoro

Third NYSE:BAC

stock Bank of America from etoro

Fourth NASDAQ:Cisco


Cisco from etoro

Fifth NYSE:WFC