Day trading offers the most flexibility of any market approach, bar none. Positions can be entered, closed, or reversed literally as quickly as a trader can change his mind. Those who are at their screens day in and day out know the importance of speed, agility, and having a go-to list of stocks by their side. Along with their experience, it’s all that’s required to earn their day’s pay.
When day trading, there’s no need for waiting on moves to develop over the course of days or weeks – the market keeps score in real time. The trader who comes prepared is a trader with an edge, and these days even a slight edge makes all the difference in the world.
Awareness is Everything
Today’s markets can be fickle and cruel, so it’s common for traders to get sliced and diced when they show up without a game plan. Recognizing the prevailing market trend is only one piece of the puzzle, albeit an important one. However, the day trader absolutely must have more weapons in his arsenal if he is to succeed.
Key market levels often provide short-term turning points for stocks, which in turn allows the skilled trader to quickly seize opportunities and pounce on profitable situations. It’s critical that day traders be cognizant of those zones as well as market sentiment, which is why we focus on them so frequently in our nightly Bandit Broadcast.
And let’s not forget the underlying importance of knowing which stocks are in play and which are poised for imminent moves for the day trader to capitalize on. That list is the bread and butter of the balanced day trader.
Maintaining an Edge for Consistent Day Trading Profits
Being equipped for battle each day means having all the bases covered. And yet, the day trader doesn’t have to spend a large quantity of time getting prepared for each session – so long as that prep time is spent reviewing quality information. Stated simply, the informed day trader possesses an added ability to make fast and sensible decisions in the heat of battle.
Our nightly Broadcast identifies numerous setups for active traders to key on, along with precise levels at which trades can be initiated. We also list a number of additional stocks on our nightly Watch List for members here. We regularly discuss price action and the habits which the market frequently finds itself in, adding even more value for the vigilant day trader.
So if you’re looking for a way to start improving your trading, we look forward to trading with you!