Day trading strategies: the complete guide with all the advanced tactics for stock and options trading strategies. Find here the tools you will need to invest in the forex market

Trading Strategy for Ranges
However, notice that the price fluctuations within the range offer
opportunities for profit. Once you have established a level of support, you
can use that as your price level to enter the position.
It’s possible that you will miss out on the upside, but a smart trader takes a
methodical approach. Rather than being greedy or waiting around to see if
the price might continue increasing, the smart trader sets up rules for their
trade beforehand, and they stick to their rules. It’s better to ensure a limited
profit and duplicate the process, than it is to wait too long hoping for higher
highs and find yourself losing money. Unfortunately that happens all too
often.

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N
CHAPTER 9:
 
 
News Trading
ews Trading. Again, this is where you will want to be paying
attention to the happenings of the financial world. When big
news hits regarding a stock that you are informed enough about
that you are able to generally predict its market moves, take advantage of
the moment by buying or selling. This should usually be done very early in
the day, shortly after the market opens up since that is when the news
usually will first come out. If you wait until later in the day, everyone will
have gotten a feel for how the market is reacting and thus may not be so
eager to sell or buy. The day trader’s objective, however, is to take
advantage of small, yet drastic moves within the market, and so buying or
selling when the market is at its most volatile may be of the most use to
you. It is important to remember not to get ahead of yourself though. Be
sure to think through each trade calmly and rationally, avoiding making any
passionate decisions that you may later pay through the teeth for.
A word of warning however: there is a difference between news trading,
which is legal, and trading on information that you already know ahead of
the market. If, for example, a friend tells you that tomorrow morning
company XYZ is going to file for bankruptcy, you would be tempted to
immediately sell your stock for a hefty profit before it collapses. But to do
so before the company announced it would indicate illegal activity.
Similarly, if you decide to scalp (different from the first strategy), then you
are purposely talking up or down a particular security causing the market to

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change and then taking advantage of it. That would also be viewed as
unfavorable by authorities. Don’t do it.