Day Trading 101

[mekorich]

I am new to day trading. I have been researching and researching how to become familiar with the many tools and tactics of successful daytraders. I figured that I needed to commune with other people who desire to learn, maintain and excel in the arena. I guess my question would is when do I jump in? How do a determine a strategy. Do I just jump into a simulator and start tanking until I get it?

 

[cantagril]

I am new to day trading. I have been researching and researching how to become familiar with the many tools and tactics of successful daytraders. I figured that I needed to commune with other people who desire to learn, maintain and excel in the arena. I guess my question would is when do I jump in? How do a determine a strategy. Do I just jump into a simulator and start tanking until I get it?

Articles

 

[AliForexTalks]

How to Choose The Best Forex Trading Strategy

1. Time frame. Choosing a time frame that suits your trading style is very important. .
2. A number of trading opportunities. When choosing your strategy, you should answer the question: how frequently do I want to open positions?
3. Position size

 

[Farm Yard Forex]

How to Choose The Best Forex Trading Strategy

1. Time frame. Choosing a time frame that suits your trading style is very important. .
2. A number of trading opportunities. When choosing your strategy, you should answer the question: how frequently do I want to open positions?
3. Position size

Number 1 is something often overlooked by people and leads to unsustainable learning and practice.

 

[pathsofglory]

No doubt starting on a simulator is the first step if you want to get acquainted with the functionalities of a trading platform, and want to understand how different tools and indicators work.

As a beginner you should try to keep your strategy as simple as you can. Later on, after getting some experience you can increase the complexities. It’s preferable to establish at least two trading strategies which would act as a backup to each other. In case one strategy fails you can always have a second one up your sleeves.

 

[Jungletrader]

First you need to learn a strategy that resonates with you .
Then yes hit demo or use a simulator and practice the he'll out of it until you can master 1 pair with it

 

[WalletInvestor]

Using a demo account is a good starting point, but going purely by trial and error will not be very effective. You need to gather some theoretical knowledge first - learn about the markets, how to do analyses and read about the different strategies that exist, and practice what you've learnt on a demo or cent account.