Day Trading Stock Picks, Day Trading Stock Picks | 3 18 20 Stocks for Breakfast – How To Make 50 Dollars A Day Trading Stocks.
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 email@example.com
Book mentioned in today’s video: Tape Reading and Market Tactics
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Have a great day!
, Day Trading Stock Picks
How To Make 50 Dollars A Day Trading Stocks Day Trading Stock Picks | 3 18 20 Stocks for Breakfast.
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Day Investor Strategies
Day traders are in harmony with occasions that cause temporary market steps. Trading the information is a prominent technique. Set up statements such as financial stats, company profits or interest rates go through market assumptions and also market psychology. Markets react when those assumptions are not satisfied or are gone beyond, typically with abrupt, significant steps, which can profit day traders.
One more trading approach is known as fading the gap at the open. When the opening cost reveals a space from the previous day’s close, taking a placement in the opposite instructions of the gap is known as fading the gap. For days when there is no information or there are no spaces, early in the early morning, day traders will certainly take a sight on the general instructions of the market. If they anticipate the market to move up, they would certainly buy securities that display stamina when their costs dip.
If the market is trending down, they would certainly short securities that display weak point when their costs bounce. The majority of independent day traders have short days, functioning two to 5 hours per day. Usually they will certainly exercise making simulated trades for several months before starting to make online trades. They track their successes and also failures versus the market, aiming to discover by experience.