How To Monitor Day Trading Operations

The Best Resources For Day Trade - Part 4

  The Best Resources For Day Trade  Part 1

    The Best Resources For Day Trade  Part 2

      The Best Resources For Day Trade  Part 3

Step 1- Choosing a tracking and trading of instruments

Professional trader should be between 9 and 12 instruments monitored. Below that there is not enough diversification and over 12 it is confusing. Instruments to be good at least one from each of the four families: indices, currencies, commodities and interest rates
Requirements to select an instrument:
Trading volume looked into very big idea is that the action of a single body should not affect the market. When the market behaves in the form of a flock, according to Dow theory, it is possible to trade without the worry and feel 'They're working on you "or market banded against you. Here you are one small part of an infinite and no one can dictate the behavior and fluctuations in prices and that fair and honest trade
Trading is available easy - in the modern era of high-speed Internet can concentrate on the most popular contracts traded electronically through major exchanges. Your best interest as a trader is to invest the money where the majority of investors and to form a broad market, with- BID and ASK small gaps where there are opportunities for comfortable entry and exit by pressing a button
Once selected the instruments have to learn a bit about them
Hours trading, Size Exposure, Bursa, minimal traffic size, margin, a brief description of the product
Select the Instruments which are interested in receiving information about him
Case and are interested in more details about any contract you can log on to its Exchange Home www.cme.com

                              day trade instruments

Step 2 -marking support and resistance levels in the long term 

Instruments must all wish to trade opening Excel page:
Open graph analysis software historic period of 7 years (not less than two years in order to get a broader picture and not more than 10 years then has been less relevant information). Mark on chart support and resistance levels horizontal (between 5 and 8 lines) and biased (not more than three). The emphasis is on the rapid marking the most obvious level, without lingering on the experience to be accurate or correct. Note that a trend support line marked the lows (where buyers control) biased resistance line marked the peak levels (which bears rule)
After the drawn lines, Shoot the screen (preferably with a button: Print Screen) and copy it to under the photograph has to write the support and resistance levels in numbers
Things to do :
Have to write all the levels marked
As mentioned, there is no need to be precise, but simply write the marked level
These levels will be marked Signal-T
Write even levels that are far from the current price
In the case of a clear long-term trend should be noted in writing. (Increase, decrease or shuffle)
Such a long-term analysis is recommended every three months quarterly)

support and resistance levels

Step 3- Mark appropriate levels in the medium term trading 

Open graph analysis software historic period of three months. Mark on chart support and resistance levels horizontal (4 to 8 lines) and biased (not more than three). The emphasis is on the rapid marking (not more than a minute), the most obvious level, with very short dwell for accuracy
This analysis should be performed every start of the week \ month
After the drawn lines, Shoot the screen and copy it to the Rose under the long-term chart picture
Under the photograph has to write the support and resistance levels in numbers
Products obtained from analysis of medium-term:

1. Tuning of previous levels - more precise location of the line that marked the long-term chart. This        will allow us to more accurately market entry
2. Addition of new levels will be marked with the letter C - these will be more opportunities for trade     in the transition to T
3. determining the direction of medium-term trend trading and short: Immigrating trade only Long.         Drop - trade only short positions. Shuffle - can be traded in both directions. (Also trading day). Has     to try really hard not to trade against the trend that's always better to be with the majority
4. identifying patterns and there are ongoing case and their description in words (triangles, flags,             technical patterns, etc)
5.all add critical level location payable out of the position of Operations.

Daily non-dealer dealer (Day Trader) worked patiently under the trading levels set out with this analysis. Trading is patient because not every day trading opportunities arise, and when an order is perceived there to run it coolly over time without having to be moved daily volatility

day trade planing

Step 4- Working with short-term graph

This step is only for aggressive traders who intend to trade on a daily basis or short range of only a few days 

Normally open graph analysis software, this time for a period of one week. Mark on chart support and resistance levels horizontal (4 to 8 lines) and biased (not more than three). The emphasis is on the rapid marking (not more than a minute), the most obvious level, with very short dwell for accuracy 

This analysis should be performed at the beginning of each trading day: 

After the drawn lines, Shoot the screen and copy it to the chart below the medium-term picture 

Under the photograph has to write the support and resistance levels in number

Day trading practice: 

- Daily trading has also endeavor to work only in the medium-term trend. Recall, the three-month operation led to the conclusion about the trend. Uptrend has only search Shopping (Long) levels of support or resistance levels breakout. Downtrend should look for selling (short) with resistance or breaking of the support. You can shuffle mode to enter Long shorting support and resistance, but have to be on alert to leave the boundaries of congestion 

- The design of Commerce trade patterns should be considered ongoing. For example, if the procedure short or medium term trader identified a continuous pattern for example, to take into account the figure did not expect the contract breaks the mold at the moment

Be careful not to fall into the trap and make a trade by only inter day chart. Always start with a more long-term analysis and slowly focus on the daily chart 

When trading table is ready, i.e. all Instruments separately has a list of levels where the trader wants to take a position together with the possible output levels from all that is to follow exactly make other planning and place the planned level commands

Day trading practice

Highlights:

Notify all entry and exit to exit a position coordinates simple table, the table will contain the following information: Name Instruments, Availability, reason for entry words, the stop order price, exit price in an ideal, reason for exit in words, gain / loss.

have to write words the policy of raising the stop

In case the trading software allows you to see the trading graphically (as Meta Trader software) is recommended to make a screenshot every time you put a new command, updating existing orders and when the command is seen. daily trader will copy all the screenshots page, every day a new trading page. Longer term trader can save screenshots on the same page of the Instrument

After trading: 

After trading has to go through the screenshots and trading table and to consider the deviations planning. Ideal trade should not occur any deviations, regardless of income 

At the end of trading the trader should pat itself on the back and be pleased that stuck to the original design. If the trader finds himself angry or disappointed Overall this is a sign that the feelings in the mind "Lift Head" and continue to train and plan for the next trading day in order to eliminate them completely 

Final Words 

This article was presented through a professional trading and is designed using basic trade journal writing. Traders with a wider technical knowledge will incorporate course, at the design stage other technical tools but in any case have to keep it simple decision-making process, which will lead in turn ease decision making consistency with expected positive earnings and unnecessary emotions free trade. Remember that the power of technical analysis lies in its statistical advantage, an advantage not reflected in a single transaction, but the Best "infinite" of subsequent transactions

This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice