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What trading setups do you use today? Steve Ruffley, day trader and market strategist at InterTrader http://www.financial-spread-betting.com/intertrader/intertrader.html comments. Guys, please appreciate this guy is a day trader, meaning he holds and sells positions for very short periods and as such his methodology may be different to others. How long have you been trading? I’ve been in the markets for 15 years – its my life really. The world is constantly trading. I’m a real money oriented trader. If I trade and have a good day I like to thing of profits as things like today I got a rolex or a tv or such. What specific setups do you use today, and on what time frame? What is your perfect technical setup? For intraday trading I start with the hour-lies and then move into 15-minute for entry. I utilise Fibonacci – strong directional move or very extended candle. I also try to understand the overall trend but I do like to be market neutral
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Day Trader Techniques
Day traders are attuned to occasions that trigger temporary market actions. Trading the news is a prominent strategy. Scheduled news such as financial data, corporate profits or rates of interest go through market expectations and also market psychology. Markets respond when those expectations are not fulfilled or are gone beyond, usually with sudden, significant actions, which can profit day investors.
One more trading method is known as fading the space at the open. When the opening rate shows a space from the previous day’s close, taking a placement in the opposite direction of the void is referred to as fading the void. For days when there is no news or there are no voids, early in the early morning, day traders will take a sight on the basic instructions of the market. If they anticipate the marketplace to move up, they would acquire safety and securities that exhibit toughness when their costs dip.
If the marketplace is trending down, they would certainly short securities that display weakness when their rates bounce. Most independent day traders have brief days, working two to five hours per day. Commonly they will exercise making substitute professions for several months before starting to make online professions. They track their successes as well as failures versus the market, intending to learn by experience.
