Today the article is about the Intraday trading strategies for beginners.
Many beginners suppose the Intraday trading can make a lot of money. However, Jesse Livermore believe that the trading is a business and run it on principles.
First, I will treat Intraday trading like a business, avoid day trading mistakes and a big trading loss.
Second, I love my day trading business and want to improve my trading discipline and follow the trading plan.
Third, I will write an intraday trading plan, a day trading checklist and keep an intraday trading journal excel.
Fourth, I won't trade every day.
Fifth, I must find the right currency pair to match my day trading strategy.
It is especially important that I should choose my trading style to match my personality. Because I believe intraday trading may not suitable for all people. I must open a demo account and test my day trading systems.
Here I would like to use the grid trading system in day trading market.
If the price could break out through the resistance line, I will open my first trade on the one-hour chart.
If the current trend continues, I will add another 0.02 lots.
And then, when the price breaks through a trend line, I will close all positions on the Metatrader 4 platform
I think grid trading forex system can totally be used in day trading market. An important thing to understand is that you must write a day trading checklist and identify the main trend on the 4-hour chart.
More day trading video: Ways how to trade the Forex Grid system - an intro on how hedging trades
Many beginners suppose the Intraday trading can make a lot of money. However, Jesse Livermore believe that the trading is a business and run it on principles.
First, I will treat Intraday trading like a business, avoid day trading mistakes and a big trading loss.
Second, I love my day trading business and want to improve my trading discipline and follow the trading plan.
Third, I will write an intraday trading plan, a day trading checklist and keep an intraday trading journal excel.
Fourth, I won't trade every day.
Fifth, I must find the right currency pair to match my day trading strategy.
It is especially important that I should choose my trading style to match my personality. Because I believe intraday trading may not suitable for all people. I must open a demo account and test my day trading systems.
Here I would like to use the grid trading system in day trading market.
- I will write a day trading checklist and choose the right currency pair. Here I want to choose the best currency pair AUDUSD.
- I will select the perfect time frame for day trading. Here I want to use the 4-hour and one-hour chart.
- I am going to use the trend line to identify the main trend on the 4-hour chart.
- If the price could break out through the resistance line, I will open my first trade on the one-hour chart.
- My grid spacing is 40 pips
- My grid lot size is 0.02 lots
- When the price breaks through a trend line, I will close all positions on the Metatrader 4 platform
- I will use 0.01 to 0.02 lots for a $3000 account.
- I will only focus on one currency pair or one stock.
- I will open a demo account to test the intraday trading strategies
If the price could break out through the resistance line, I will open my first trade on the one-hour chart.
If the current trend continues, I will add another 0.02 lots.
And then, when the price breaks through a trend line, I will close all positions on the Metatrader 4 platform
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| Intraday trading strategy for beginners |
More day trading video: Ways how to trade the Forex Grid system - an intro on how hedging trades
Best Intraday trading strategies
Today I am going to show my best Intraday trading strategies.
Day trading is very hard to make consistent money. If you want to start day trading business, you will make some preparations for it.
Day trading is very hard to make consistent money. If you want to start day trading business, you will make some preparations for it.
First, writing a day trading checklist
I think it's the most important of all tips on day trading
Successful day trader will build a checklist before every trade. They believe it can help him find best trading entries and exits.
But a lot of beginners just trade with news or emotions, they would never observe a market's raw price action.
Therefore, you must use a forex trading checklist from this very day.
Second, building a day trading plan
Do not be afraid to build a day trading plan. Many beginners would never build it. They suppose it's terribly involved.
Successful day trader will spend much time to make a detailed plan.
- It can clear your day trading goals
- It can clear your step daily trading routines
- It can define your day trading entry and exit points
- It can define your intraday trading strategies
Third, developing your own profitable Intraday trading strategy
You can get a lot of best Intraday trading strategies online. But, you should also ask yourself: are these day trading systems really fit for you?
I suppose the only way to create a successful Intraday trading strategy is to demo trading.
This is my best forex Intraday trading strategy:
This is my best forex Intraday trading strategy:
First, focusing on one currency pair the smart thing to do
You can certainly check out 6 major currency pairs at once. But successful day trader will only choose one currency pair that fits his personality. Because he think it is the easiest way to keep track and trade.
Second, identify the main trend on the 4 hour chart.
You can certainly check out 6 major currency pairs at once. But successful day trader will only choose one currency pair that fits his personality. Because he think it is the easiest way to keep track and trade.
Second, identify the main trend on the 4 hour chart.
Many beginners just trade with emotions. They would never try to observe a market's raw price action.
My first task is to write a day trading checklist and find entry and exit points.
Third, I will use position sizing strategy
Beginners just take one position entry at a time. But top day traders will use grid trading strategy.
Well, you could also choose martingale trading system or pyramid trading system.
Fourth, I will keep a trading journal and review my forex trading performance.
For example: I will ask myself a number of smaller questions.
If you share your intraday trading strategies online, you will improve your trading performance. I believe only in this way can I become a self taught successful forex trader.
My first task is to write a day trading checklist and find entry and exit points.
Third, I will use position sizing strategy
Beginners just take one position entry at a time. But top day traders will use grid trading strategy.
Well, you could also choose martingale trading system or pyramid trading system.
Fourth, I will keep a trading journal and review my forex trading performance.
For example: I will ask myself a number of smaller questions.
- Why do I lose money?
- How to avoid losing money next time?
- Why do I make money?
- How to win consistently in forex trading?
If you share your intraday trading strategies online, you will improve your trading performance. I believe only in this way can I become a self taught successful forex trader.
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