T2W Bot

Staff member
1,459 60
The most important thing in any type of trading is to have a solid set of rules and then to have the self control to follow those rules. Day traders especially need to have rules to follow as emotion can and will have you buying and selling at the wrong time.
Day Trading Rules:

Only enter trades when price is at a support (demand) or resistance (supply) level, no matter what time of day or night.
Two types of entries: Breakouts and first pullbacks (see below).
Each day, identify one demand and supply level in each market, using a larger intra-day time frame. Always know where the market is in the larger picture with regard to supply and demand.
Only trade opportunities that offer at least a 3:1 profit zone to the first target.
Pre-plan and pre-set: Entry, Stop, Target/s.
Don’t get fooled by: News, Lagging indicators, Subjective information.

Remember, any and all influences on price are reflected in price? Price is all we need...
Continue reading...
 
Last edited by a moderator:

mitel

Newbie
3 1
It's never as straight forward as this and does the author EVER write about anything other than this?
 

crabbydog

Junior member
35 1
Disagree with point 4, and the setups are all too simplistic and 'always' right. The article would be better showing some failures and ambiguous setups. But there are good points and a good place to start for newbies.
 

johnnyonspot

Junior member
39 0
I have noticed that the majority of this guy's articles are somewhat simplistic, and his lines showing support and resistance are sometimes based on a fairly weak or short history of price stability. Its always easy to to go back in time and show all the great trades. Why not put up some losers and explain the reasons for entering and why they went wrong?
 

GARFEEL

Newbie
1 0
The writer doesn't to write on anything else, because, if you check it out...this is all we really need to know.
 

MIMA

Newbie
1 0
The way Sam Seiden teach to trade is the best way to trade because is based on fundamentals of trading...some traders looking for something complex...well winners need such kind of traders....
 

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