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Everyone needs to have a plan for trading with and against the market…here is my plan and approach explained!!
It is always good when a days trading is from clean and clear price action but it will only be thanks to pre-market planning and a sound approach to trading.
I have developed some rules for myself to help get me in the prime areas for my own daytrading. It may vary slightly from market to market but I have a few simple rules in place to categorize my trades with regards to probability.
In the video, I take a look at a long trade into expansion and then talk through a later example of a ‘reversion to the mean’ trade into an extended market. I will set out the basic rules for the trades and show where I see the prime areas and why. I also re-iterate my system for risk management using a ‘two candle’ rule.
I feel this to be my basic template for success in daytrading without adding too much complexity. It is a clear and simple approach that anyone can implement into their own strategy.
Hope this helps and please enjoy.
Happy Trading
Braden
Watch the FULL VIDEO here 👇
One Good Trade and Review of another!!
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Disclaimer: the contents of this post are presented for informational purposes only. They should not be viewed as investment advice, nor a solicitation to buy or sell any financial securities. Investments in financial products are subject to market risk. Some financial products, such as currency exchange, futures, contracts for difference, options and warrants are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. Trading currency exchange, futures, contracts for difference, stocks, shares, options and warrants on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in currency exchange, futures, contracts for difference, options, stocks, shares and warrants you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with currency exchange, futures, contracts for difference, options, stocks, shares and warrants trading, and seek advice from an independent financial advisor if you have any doubts.