Mastering The THREE DAY MARKET CYCLE (Stacey Burke Day Trading Strategy)

Summary

The transcript outlines day trading concepts like timing cycles, price levels, and setups to find profitable trades with asymmetrical risk/reward. It emphasizes understanding larger multi-day templates to identify potential breakouts instead of chasing candles. Examples are provided of trading opportunities from the past week based on concepts like first red/green days, news catalysts, and post-news bounces.

Takeaways

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Q & A

What are the four steps to high performance trading?

The four steps are: 1) Develop the proper mindset and routines, 2) Increase confidence, 3) Increase ability to execute your trading edge, 4) Execute in a live trading environment.

What is the purpose of the 7-step daily routine?

The 7-step daily routine is designed to help traders develop disciplined habits and a winning mindset on a day-to-day basis.

What are some key setups mentioned in the video?

Some key setups mentioned are: 3-day setups, first green day, first red day, inside days, 3-session setups, day zero setups, pump and dump templates, range expansion opportunities.

What are the 3 key levels traders should be aware of?

The 3 key levels are: 1) The closing price level, 2) The high of day level, 3) The low of day level.

What is the purpose of tracking major economic news releases?

Tracking major economic news releases allows traders to plan their week, avoid taking trades during volatile news events, and potentially take advantage of opportunities around news releases.

What is the reference point for the closing price level?

The closing price level reference point is the previous Friday's close at 4:59pm New York time.

What quote is mentioned regarding range expansion?

Paul Tudor Jones' quote: "When you get a range expansion, the market is sending you a very loud, clear signal that the market is getting ready to move in the direction of that expansion."

What setups are ideal for a Monday?

On Mondays, ideal setups are 3-session setups that involve other timeframe traders and have broken through one of the previous day's higher low levels.

What was the best Tuesday setup highlighted?

The DJ30 first red day setup and consequent capitulation for over 75 pips prior to major economic news.

What was the ideal crude oil setup on Wednesday?

The high of the week third hour reversal setup, entering one hour after the 9am open for an explosive move.