Day trading strategy rule#1

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Day trading strategy rule#1Day Trading Strategy rule #1

You need a day trading strategy if you are going to profit from your online day trading activities, as no stock day trading tip will make you money automatically. This day trading strategy must be robust, simple to implement, and NOT involve you in any large drawdowns.

It must be robust because modern markets demand a resilient day trading strategy nowadays. Increasing volatility and expanding competition have made it more important than ever that your day trading strategy is watertight.

Your day trading strategy must be simple, because you will implement it every day. A complicated day trading strategy will soon tire you mentally and leave you struggling to remember the rules, especially at the pace todays markets move.

A good day trading strategy will NOT hit you with large drawdowns, as no matter how big your wins, large losses will demoralise you more than your wins will incentivize you.