Simple Day Trading
Keeping your day trading options for a living so simple is much better than thinking about the stressful trading for a lifetime.
Hundreds of articles, resources, strategies, indicators as well as the traders keep saying something different which can cause a confusion especially for the beginners. Keeping your trading so simple, that would be mean to follow these three important steps. BUT, always remember to do one at a time.
If you want to be a more effective trader, then you must need to setup for trading. There are some conditions that you really need to filter it out such as the irrelevant information from the charts as it might help you to work those important information. This is a set of a condition that must be materialize for indicating a trade that could happen. This setup is letting you know where do you need to focus at, work those things, and making it easier.
The best trade setup is letting you know in advance, and once that setup is done, then everything is clear with you, nothing to trigger with.
The Trade Trigger.
This is an event that usually occurs when following a trade setup that will let you know that it is time for entering a trade. This could be the exact moment for the indicator through a particular level. And once is everything is identified, then the only thing you can focus with, is to isolate where and when usually the triggers are.
Risk/Reward Assessment. Once you have already clear for the first two steps, you can now focus on the risk and reward assessment.
This will help you to exceed the risks and executing the trade especially when the triggers occur. It is so important on being aware of the company news, for you able to know what happenings and this is also part of the risk and reward assessment.