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Day Trading For Beginners - Market Movement And How To Read It
Day Trading for beginners and more at http://daytradervideo.com Ok let's talk market movement and just why
this is so important, especially with the topic of day trading for beginners. To the
naked eye it would seem that it's the fancy indicators on your screen that determine just
exactly what kind of trade setups to take. But let me tell you from experience that,
that isn't the case. In fact with all the years of studying how
the market prints and moves I think that I could possible trade with only 1 or 2 indicators
if necessary. It's all about the way price and the bars print. Even minor things like
the speed at which they print are quite important. Day Trading for Beginners Market Movement
101 So, how do you get to that level? The answer
to that is actually quite simple. You just have to learn to understand how the market
moves. And when it comes down to it, it's actually very easy. If you haven't already
subscribed to the 5 day trader boot camp then I encourage you to do so because we definitely
touch on this subject briefly. So, if you haven't done that yet, then do so now because
I consider that your introduction. What we talked about in one of those episodes
is the way price bars can print. The market is no different except it's going to be larger
scale moves. We talked about the movement of the market at a VERY micro level in those
lessons. What do I mean by micro? Well it just depends on the type of trader
you decide to become. If your ultimate goal is to become a day trader then micro level
for you means the current move on a tick scale. The macro level means just that day. Day traders
really aren't concerned with what happened the day before or what's happening in a larger
term scale because we do not plan on holding trades for longer than minutes at a time.
One of the most important things to realize as a day trader is to get rid of the noise
and don't pay very close attention to what the media or others are saying. Trade the
technical's and your charts and don't be too concerned with a larger term time frame. It
can help but ultimately you're just adding another factor which can cause fear and confusion.
Hope you enjoyed part one of this day trading for beginner series. See you in part 2.