To day trade successfully, we need a market that is volatile and liquid. S&P 500 E-mini (ES) and NASDAQ-100 E-mini (NQ) futures are popular day trading markets. Beyond them, the E-mini DOW (YM) futures contract is also a great choice. Among equity index futures, the trading volume of YM futures ranks right after ES and […]
Archives for August 2014
Trading Consecutive Up/Down Days With Lower Risk
When a market closes up for consecutive days, traders get excited. They start speculating that the market cannot continue its upwards streak. Somehow, we are wired to think that what goes up must come down, and vice versa. (See: Gambler’s Fallacy) This is why consecutive up/down days form the basis of many stock scans and […]
How to Create a Price Action Day Trading Plan
The market is a wild creature that no trader can control. For the intraday trader, the market is even more uncontrollable. Trying to control the market is impossible. In this wilderness where we face overwhelming market forces, how can a trader achieve consistent performance? The trick lies with controlling the only thing a trader can […]
How to Keep Trading Records as a Discretionary Price Action Trader
Most traders agree that trading records are essential to improving your trading performance. But when it comes to the specific pieces of trading information to record and how to do it, things get fuzzy. Some traders think that the trading records from their brokers are enough. Others might record their reasons for taking each trade. […]
