I’ll be honest, I don’t like gambling. If I go to Vegas, I’d rather just skip the trip to the casino and go see shows or enjoy the great food.
That doesn’t mean I don’t like risk. In the real world, I’m an entrepreneur and taking risks comes with the territory. It doesn’t bother me.
However, I feel like there’s a big difference between me and people gambling in Vegas. I’m able to stack the odds in my favor. In Vegas, you close your eyes and hope lady fate is feeling generous that day. To me that just seems stupid. I’d rather not take risks where the result is completely up to chance.
So what does this have to do with day trading? Everything. Did you know that only 5% of people doing day trading ever make any money? Most people lose money and some get completely wiped out when they try it. Why? They’re not stacking the odds in their favor and they’re taking big unnecessary risks.
Low Risk Day Trading Strategies
So if you’d like to join the land of the 5%, let me give you a few low risk day trading strategies you can use to make excellent returns (about 12.8% per month – that’ll more than quadruple your money in a year)
1) Use Multiple Time Frames
To get a clear picture of what’s happening in the market, you’ll want to make sure you’re looking at multiple time frames. As an example, let’s say you’re looking 5 minute time frames to enter your trades. You’ll also want to check out 30 minute or 1 hour time frames to get an idea of where the market is generally headed.
2) Cut Your Losses
The mantra of the day trader should be “live to fight another day.” That means that you need to put a stop loss in place on every trade you do otherwise you’re playing a dangerous game of Russian roulette with your money and some day it’s going to wipe you out.
You’re going to have trades where you lose money, especially if you’re day trading. Just don’t allow any single loss to deal a fatal blow to your entire portfolio.
3) Trade with the Trend
Say it with me. “The trend is your friend.” The trend is your friend. This tactic of following trends has created many millionaires and I can’t even tell you how many books have been written on this topic. Just visit Amazon and check a few of them out.
Learn how to use trend trading to get 12.8% returns per month with day trading or 6.43% monthly returns in just 5-10 minutes a day after the markets have closed by getting this free trend trading pdf report.
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