TSBTV#70 - Day Trade Management
Posted on: May 27, 2009
Locating setups which are good for day trading is important, but once you’ve done that the success of the trade is going to boil down to how well that trade is managed.
I prefer to locate possible plays on the daily charts, but once I’m in a day trade I flip over to the intraday chart and take it from there. I’ve found that the same chart patterns and price tendencies occur across multiple timeframes on the charts, so it’s natural to interpret the moves in a similar fashion.
Here in Episode 70, I’ll show you an example trade I took today. I’ll give you the reasoning behind the trade and the decisions I made while in the trade, and hopefully it’ll help you out to see the kinds of things I watch for when in day trades.
(Be sure to click the full-screen option for best viewing.)
Hope you enjoy the show! Thanks for watching and subscribing, and feel free to post your ideas and comments down below.
Trade like a Bandit!
Jeff White
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www.TheStockBandit.net (Trading Blog)
March 28th, 2010 at 12:35 pm
Do you have any buy or sell signal rules that you follow?
When looking at charts for day trading; what do you look for?
Do you use the blueprint before trades or after trades?
March 28th, 2010 at 12:41 pm
Hi Chanel,
Great to see you here! Be sure to check out my swing trading strategy as well as my day trading strategy…those should both help.
As for the Bandit Blueprint, it’s intended to be used both before and during trades in order to help you determine your current risk. We can discuss it further in the Hideout over at TheStockBandit.com since that is a members-only feature, but that’s the purpose of the Blueprint.
Hope this helps, let me know if I can clarify further!
Jeff
February 25th, 2011 at 5:58 pm
Jeff I know these lessons are a couple of years old, but WOW. This one was so great, to hear the mind of a trader intraday, and so valuable! Thank you so much for clearing up so much… Suzi
February 27th, 2011 at 3:51 pm
Hey Suzi, thanks for stopping by! I’m glad you continue to find value in them, the aim was to produce high-quality lessons which transcend the timeframe of just a day or two. Hopefully that was achieved!