Many traders ask me for good day trading and swing trading tips, yesterday I discussed the concept of positive expectancy and how you should always maximize your profits and minimize your risk. When used for day trading the formula simply changes the time frame from daily to intraday and the formula will take care of the rest.
If you were trading the E-mini SP Futures contract and you used a tight stop loss in January of this year you would probably do well but if you used the same type of stop loss in April of this year you would be stopped out before giving your trade the opportunity to work in your direction. What’s great about the ATR is that the numbers that are produced are based on actual dollar values of the market your trading. I hope these day trading tips will help you stay out of trouble in todays volatile markets. GOVERNMENT REQUIRED RISK DISCLAIMER: FUTURES & FOREX TRADING HAS LARGE POTENTIAL REWARDS, BUT ALSO LARGE POTENTIAL RISK.
UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING.ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY.
If you like the idea of a flexible lifestyle, where you don’t have a boss to answer to, and you are in control of your own financial destiny, then becoming a Forex day trader could be the perfect solution. There are many different Forex day trading training courses out there, and choosing the right one is essential to your success. You can find reviews by searching on search engines such as Google and Bing, as well as checking out the many day trading forums on the internet. A good Forex training course will provide you with a solid basic education into how the Forex markets work, as well as going deeper into things such as how to properly analyse the markets, tips for controlling risk, and the most common strategies employed by Forex day traders.
The best way to get a feel for the Forex markets is to open a demo account so you can start trading without risking any of your own money.


Instead, take the slow and steady approach to Forex day trading, and start making small trades based on your own market analysis.
If you are to stand any chance of successfully day trading in the Forex markets, then it is essential that you get yourself a day trading broker. This is a small price to pay though, as once you get a broker, you will be getting Forex experts on your side who can advise you on all of the technical aspects of running a successful Forex day trading business, which ultimately leaves you free to work on studying the markets and and to follow your strategy. Also, it is beneficial to find some informative blogs and forums, so that you can read the views of other day traders. If you like the idea of trading for a living, with nothing more than a computer and internet connection, all from the comfort of the spare room in your house, then Forex day trading is an excellent choice. If you don’t currently have much money to your name, but want to get trading in Forex, then it is a good idea to put away a small amount each month for the purpose of trading in the markets.
It doesn’t matter where you are in the world, as the action in Forex day trading is happening 24 hours a day.
Imagine you are trading using an indicator like the RSI that gives you an overbought or oversold level. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. Once you have your demo account up and running, resist the urge to start trading like crazy.
Some of the websites that offer both Forex day trading training, as well as demo accounts, include FX Bootcamp and The Forex Club. For example, you could subscribe to the various news feeds that are updated on a daily basis, as well as signing up to the numerous Forex day trading newsletters.


Although you might not agree with everything you read, it is always a good idea to keep an open mind, because at the end of the day, Forex day trading is a journey that never ends, and you will be constantly learning new things and tweaking your own strategy. By the time you have finished trading with a demo account, you should a nice sum of money to get started with. Today I’m going to teach you how to use the Average True Range (ATR) Indicator to measure stop loss placement levels as well as profit targets. The only change I make is I average the last 10 days or trading bars while the original formula averaged the ATR for 14 days or bars. I specifically wanted to use this example because you can see how the Index starts off with relatively low volatility and consistent trading range and in the latter part of the example you can see how the volatility picks up and the ATR increases simultaneously with the increase of volatility. THE PAST PERFORMANCE OF ANY TRADING SYSTEM OR METHODOLOGY IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. I discussed the ATR previously in past articles but I want to show you a real demonstration so that you can feel more comfortable incorporating this indicator into your trading plan.
I find that the shorter time frame makes the ATR react quicker to dynamic changes in volatility that occurs in today’s markets. Thank God for electronic trading, imagine having to call the broker each time I make changes.



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