Day trading strategies are mostly overdone by everyone in the industry. My Day Trading Strategy has taken many changes over my near 10 year career. I started day trading futures and I still day trade futures to this day because they are one of the easiest vehicles to trade in.
If you’re interested in learning day trading or even learning more about my training program, getting updates on the LTD Project, or even getting an exclusive video with more insight about my day trading strategy sign up for the email newsletter below:
Here is a brief summary of my strategy:
- Trade strictly futures
- E-mini S&P 500 & Crude Oil
- Two Charts – 610/233 tick charts
- 3 Indicators (yes that’s it)
- Goal: To be profitable everyday
I’ll talk about why I trade futures in a later post. When I first started, I took out student loans and purchased a semi automatic software program that automatically plotted support and resistance areas. The trick was to always try and hit a support or resistance.
Little did I know I could plot those fancy support and resistance areas for free
From there I met many traders and was exposed to many different strategies. I was lucky to meet a like minded group of traders that had a very similar trading style. Eventually, I helped develop a strategy by combining my near 10 year experience in the industry with another day trader’s methodologies. What you see in my charts on this site is the variation of that strategy that I apply in the stock market each and every day.
I found my winning strategy by keeping a few things in mind:
- Win more than you lose
- Make sure your winners are bigger than your losers
- Simplicity (clean charts, simple setups)
- Stay disciplined and follow plan
My win ratio is definitely better than 50% which would satisfy my first bullet. There are going to be days when you don’t win more than you lose which is why you want to also focus on the second bullet. By having winners that are bigger than your losers it allows you to have an edge in the market. I have had days where my winning percentage was 40% and I still did very well. Think of it as a way to protect yourself from stupid mistakes like day trading and playing on Facebook at the same time.
I try to keep everything as simple as possible because you can complicate trading very quickly. Before you know it you can be looking at 20 screens and 80 different colors.
Most people are not built to multitask and can only handle one thing at a time
Day Trading also takes an immense amount of focus, trying to process thousands of peices of information is impossible, you simply won’t be successful. When you follow a plan that works and you stick to it, positive results will magically appear. The only time I lose money is when I deviate from my plan. Keeping it simple also allows a day trader to keep his focus and motivation in check. The honest truth is that most day trading companies are out there to take your money, not show you how to day trade.
If day trading is so profitable why is there someone trying to tell you how to do it when they could do it themselves?
Think about that for a second. One of the reasons that I started this site was to give day traders an honest, reliable, and affordable, way to start day trading. Right now, I post my own trades on this site, free of charge, to allow other traders that have similar strategies to learn from my 3/4 years of mistakes and 6/7 years of success (my memory doesn’t serve me as well as it should). I’m also going to publicize how I am going to teach someone how to day trade via my learning how to day trade project (LTD Project).
Day Trading isn’t rocket science, it just takes a bit of work. If you’re interested in learning, sign up for my email list below to catch updates on what I am working on. You can even find me on my Facebook Fan Page.