Day Trading Stock Picks, Day Trading Stock Picks | 3 18 20 Stocks for Breakfast – Best Website For Day Trading.
The stock market staged a relief rally yesterday but the happy glow is gone.
Stock futures traded limit down this morning and we are looking at new selling.
Today we need to be nimble because we are not seeing follow through. Nice job if you sold at the close.
In today’s video I review the top 3 trade setups from yesterday using the SPY ETF. Then I provide the levels I’ll be watching for today. Once again I’m picking stocks to day trade.
No long-term calls right now. No new swing trades.
Stocks mentioned today include AAPL and AMZN and UNH. FDX FedEx reported earnings last night and will be on my list of stocks to watch.
Yesterday’s low for many stocks will be the key level to watch for reading the tape today. Remember our job is to build “if-then” scenarios. So for today If stocks break yesterday’s low and then give a bearish reversal, it’s time to look for a sell short.
If stocks trade above today’s open price, then I will consider a long with yesterday’s high as my first profit target. I’m not holding over night positions, so my targets are either yesterday’s high or low, or the higher time frames show me a reversal.
In the video I show a profit taking example, and two examples of how to look for new entries to today if the market stages a big move (up or down).
Technology stocks traded strong yesterday. I’ll be scanning for stocks in that sector above today’s open price too.
For day trading, the first level to consider buying stocks is the open price. If stocks can claw their way back to yesterday’s low and ABOVE, we could see a rally.
If you have any questions feel free to leave a comment below the video. OR you can send an email: Pete Renzulli firstname.lastname@example.org
Book mentioned in today’s video: Tape Reading and Market Tactics
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Have a great day!
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Forex Trading Techniques
These methods may additionally offer you well as a part-time forex investor:
Take fewer placements and hold for days.
It is vital that you comprehend the motorists of your money pairs as well as have actually taken the time to truly understand your market. Therefore, after examining the marketplace as well as limiting particular selected money pairs, picking a couple of settings and also holding them for a longer time period is a prudent strategy for part-timers. An additional sensible strategy is to place in stop-loss orders with all your professions to reduce any kind of losses if the marketplace moves against you.
Take a look at long-term fads.
There is value in checking out longer-term patterns (daily/weekly) as opposed to considering hourly or even four-hour charts. This will enable you to trade while considering your computer just once a day.
Set up trading orders.
Establishing restriction, stop-loss or various other entry/exit orders can ensure you do not miss possibilities to get in or leave placements. Most trading platforms allow for these orders without additional charges.
Establish computerized alerts to your cellphone or e-mail to maintain you educated of money cost activities while you are not actively trading.