Day Trading Strategies
All day trading techniques rely on having as much information as possible. That means keeping up with national and international economic news and visiting reputable financial websites daily. Technical trading charts keep you advised of specific stock trends. All of that information helps day traders when using any of the top strategies:
- Breakout – The breakout is a stock’s rising above its resistance level, usually accompanied by high volume. Spot breakout potential via technical trading charts showing nearly completed flags and triangles are a good indication of breakouts. There’s also the opposite trend – the breakdown.
- Momentum – Trading a stock with huge upward momentum. This momentum occurs because of a specific event, such as acquisition or unexpected earnings growth.
- News – Announcements affect prices, either up or down. Short a stock if the news is bad, buy when the news is good.
- Pullbacks – When stocks start falling downward from a peak, it’s often a good time to buy if the day trader feels the overall trend is upward.
- Scalping – this strategy aims at small moves in prices for gains. Successful scalping means doing a lot of quick daily trades, but those small moves can add up to a decent return.
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