Live: Day trading, crypto and stocks

by Ashley DeSousa | Dec 13, 2023 | Forex Analysis

Summer

Live: Day trading, crypto and stocks

In today’s webinar, Marc showed us how he is using a simple day trading strategy to find short-term trades. There are two seasons the markets tend to go to sleep or don’t move much. Summer markets and Christmas period. This is because most traders are on holiday or taking a break so there is less liquidity.

When there is less liquidity it is like watching paint dry, a perfect example is yesterday, when the markets didn’t move much and were ranging. This is likely to happen in the coming weeks towards the end of the year. So it’s best to leave the markets alone if you are a swing trader. If you are a day trader then you need to look at another way to approach the market.

Marc showed us the strategy Anne uses. It’s a combination of the M2 and plotting the daily high and low of the day. The daily highs and lows can be easily added with the template below.

Of course, don’t start trading this strategy directly on your live account. I would first practice and get used to trading it on a demo. Have a set of rules to enter the trade, if the rules meet your criteria then go ahead, otherwise don’t trade. Even in day trading not taking a trade every day is fine. You don’t want to force trades. It’s the same with the M2 strategy, the strategy is more for longer timeframes and is very effective as you have seen.

Also, Anne keeps an eye on the daily range, checks where the EMAS are, and still targets at least 1:2 risk-reward. She also trades this strategy mostly on the EURUSD, GBPUSD, and EURGBP. So she has only a few pairs that she is comfortable trading. So you will need to find pairs that are active during your session to day trade and also something that has a good daily range.

Check out my previous article on what pairs are good to trade and that have a good daily range.

The Most Volatile Currency Pairs 2023

You can watch the full webinar below

Kind regards,
Ashley

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