Tuesday, March 24, 2015

Low Risk Day Trading Strategies

It frequently comes as a surprise to people, but I'm not a gambler. In Vegas, I'm not going to hang out at the Blackjack tables or the slot machines. In fact, you probably won't see me in the casinos of the hotels at all.

I'm an entrepreneur so I'm certainly no stranger to taking big risks on a frequent basis. It's part of the job description and I've not only learned to tolerate it but embrace it. 
But when I look at taking risks in business and gambling, they feel nothing alike. In Vegas, the house wins... always. In business, however, I can stack the odds in my favor and make it far more likely that I win.
Okay, I'm rambling. This article is supposed to be about day trading so let's get to that. The way most people play the day trading game is like most people gamble in Vegas. They get a "feeling" that next big score is coming if they just stick with it. However, professional day traders don't trade on whims and feelings. They take calculated risks where the odds are in their favor. While only 5% of day traders ever make money, those who do it well, can make a fortune.
Low Risk Day Trading
If you want to becoming a day trading winner, then read on and I'll give you three simple low risk day trading strategies to put you in the 5% that do succeed.
1) Get A Clearer Picture Of The Market
A lot of people get a little too myopic when they're entering their trades. Let's say you're using 5 minute intervals to enter trades. You should also be looking at 30 minute and 1 hour intervals as well to make sure you can see what's happening. 
2) Try Again Tomorrow
I love this quote. "Sometimes courage is the little voice at the end of the day that says I'll try again tomorrow." You need to make sure that you're not risking too much on a single trade that could potentially prevent you from being able to "fight another day." Professional traders never risk more than 2% on a trade and always have a stop loss in place. Learn from them and do the same.
3) Trend Trading
Scores of millionaires have been created using this very tactic. It's how you get rich in day trading. Follow the trends and ride them until they reverse. Sounds simple, right? Don't let the simplicity fool you, it works if you just follow a proven system.
online stock trading




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