Strategy

Learning to Read

Studying charts is like learning to speak and read a new language. It takes time and effort. You need experience in the markets to beat the markets. They are designed for companies to make money off you and they have gotten really good at it and they have YEARS of experience in doing so. How to trade price.

Executing Trades

There are so many ways to trade the markets and probably even more brokers and banks to trade them with. When you start trading real cash you're going to want to be comfortable in where you're doing so. Speed kills in the markets, if your setup and accounts are at a disadvantage when it is time to execute it will be much easier for you to become a victim of the accounts and setups executing 10 times faster than you. My Setup

Managing Risk

Every dollar counts when you're just starting off. You need all the motivation and capital you can get. Risk/Reward rationing is a powerful technique to have an understanding of when trading the markets. I typically try for a 2:1 ratio which simply means I want to make twice as much on my wins as opposed to my losses. That means I only need to win days a week to profit. How to scale and manage risk.

Trading Daily

Staying on track and monitoring the markets as much as possible is key to succeeding. The markets are full of surprises and the more you learn the easier they are to identify. Markets are trading 24/5 which allows you to build a trading schedule around your current one.

My week usually begins on Saturday night with an overall analysis of the markets into late Sunday while everything is cooling off and we all have the opportunity to rethink things during the downtime. Once I make up my mind on whats going on I try to stick with that original thesis throughout the week. Thats where experience and actively tracking the markets really start to pay off. My Sunday Analysis

Finally, I pick which calls and puts I think will be in play and start to watch how the premiums decay throughout the week. I execute quick 5-15 minute trades on the NASDAQ in the mean time and wait for my stock picks to reach the best levels before buying short-term option contracts. How to trade options

My Goals

I want to make at least $1000USD a day trading, I think this strategy gives me the best chance. Markets are much too volatile right now to hold long term in my opinion. The key is picking the right spots to enter on the direction markets are trending..

Good Luck!

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