Start Day Trading Right Now

Summary

In this video, the speaker shares essential strategies for trading NASDAQ, emphasizing the importance of trading during active market hours (New York session) for higher volatility and profit potential. Key points include using support and resistance levels for trade entries, applying proper risk management, and focusing on a solid risk-to-reward ratio. The speaker advocates for beginners to start with smaller lot sizes and to be patient, practicing consistently. They also promote joining a trusted trading community and using a regulated broker to avoid scams, offering guidance on how to improve trading skills and achieve success.

Takeaways

• 😀 Trade during the New York session (8-9 AM) for increased volatility in the NASDAQ market.
• 😀 The 'blue' area on charts indicates high price movement, making it a good time to trade NASDAQ.
• 😀 Use support and resistance levels to determine entry points for trades—buying or selling based on price action at these levels.
• 😀 Practice good risk management by setting stop losses, especially for beginners. Start with small lot sizes like 0.01.
• 😀 Avoid overleveraging and making large trades in the beginning. Focus on learning and building experience.
• 😀 Only take trades when price is either above resistance (buy) or below support (sell), not the opposite.
• 😀 Use a regulated broker to ensure safety and avoid scams in the trading world.
• 😀 The speaker emphasizes that trading is not about instant profit but about consistent practice and improving skills over time.
• 😀 Risk-to-reward ratio is crucial—aim for a balanced approach (e.g., risking $100 to make $600, which is a 1:6 ratio).
• 😀 Don't rush to make money—focus on learning and mastering the strategies first. Patience is key.
• 😀 Join the speaker's community on Telegram or Discord for trade insights, advice, and support during the trading journey.

Q & A

What is meant by 'in-session' trading in this context?

In-session trading refers to trading during active market hours, particularly when the New York session opens at 8:00 AM. This is when the market typically experiences more price volatility and movement, providing trading opportunities.

Why is trading during the New York session considered important for NASDAQ markets?

Trading during the New York session is important because this is when the market sees significant price movement, especially in the NASDAQ market. The speaker notes that the price moves a lot in this session, which can increase the likelihood of profitable trades.

How does the speaker suggest managing risk for beginners?

For beginners, the speaker recommends using smaller lot sizes (such as 0.01) to get a feel for trading. They emphasize the importance of risk management, advising beginners not to aim for large profits initially but to focus on learning the process.

What is the significance of support and resistance levels in the trading strategy?

Support and resistance levels are critical in this strategy. The speaker advises entering trades only when the price breaks through these levels. A break below a support level signals a potential sell opportunity, and the target price (TP) is usually set at the next key level.

What is the recommended risk-to-reward ratio according to the speaker?

The speaker recommends a 1:6 risk-to-reward ratio. This means that for every $1 risked, the goal is to make $6 in profit. They explain this ratio by demonstrating how a risk of $100 can yield $600 if the trade is successful.

How should stop losses be managed in the described strategy?

Stop losses should be placed above the previous high when selling after a break of support. This helps to limit potential losses in case the market moves against the position. The idea is to ensure that the stop loss is positioned at a level where the trade idea would no longer be valid.

What is the role of price corrections in this trading strategy?

Price corrections are used to confirm the validity of a trade entry. The speaker suggests that after a price breaks a support or resistance level, a correction occurs, which provides a clearer entry point. Traders should wait for this correction before entering a position.

What is the importance of patience in this trading strategy?

Patience is essential in this strategy. The speaker emphasizes waiting for clear indications, such as price breaking a support level and then correcting, before entering a trade. Rushing into trades without proper confirmation can lead to losses.

What additional resources does the speaker offer for learning more about trading?

The speaker promotes joining their Telegram and Discord channels for trade alerts and further guidance. They also suggest signing up with a regulated broker that they trust, to ensure the safety of funds and the reliability of trades.

What is the disclaimer mentioned in the video?

The speaker provides a disclaimer that this content is not financial advice. They stress that trading involves risks, and viewers should learn and practice before attempting to make significant profits.