Short Term Trading In The New Stock Market – 5 Tips For Finding Hot Short-Term Stocks
Short Term Trading In The New Stock Market – Best Deal Right Now?
There are so many ways to approach the market … But most new traders are looking for the potential to grow accounts relatively quickly. One way to do that is with hot short-term trades. How do you spot them? Tim Bohen shows you — watch and learn!
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If you’re on the hunt for short-term trades, how can you be well prepared?
First things first. You gotta start your day early. The more time you have, the better prepared you can be. Get up and run your scans!
Next, minimize the number of setups you trade. And use a good screener to get a smaller list of stocks. You won’t trade them all … But it can make it so much easier to research just a few potential stocks, instead of having no clue where to start.
And be sure to focus on patterns! You gotta study charts and find your top patterns. Once you have a smaller list of contenders, you can flip through and see if you spot your go-to patterns.
Then make sure you put together the whole package — volume, news, sector, and so on. You want the stars to align as best as possible.
Now, as always, you must have a plan. Set your stop loss and stick to it!
Last, the biggest mistake I see a lot of new traders make is turning a day trade into a swing trade … or even worse, an investment.
These are called short-term trades for a reason. You should be in and out quickly. If the chart pattern doesn’t play out or the trade doesn’t work for any reason, get out and move on!
Want to be a day trader for life? It isn’t easy. But it can be possible with a LOT of hard work and dedication.
#StockMarket #ShortTerm #Stocks
*Tim Bohen teaches skills others have used to make money. Most who receive free or paid content will make little or no money because they will not apply the skills being taught. Any results displayed may be exceptional. We do not guarantee any outcome regarding your earnings or income as the factors that impact such results are numerous and uncontrollable.
You can lose money trading stocks. Do not invest money you cannot afford to lose. You understand and agree you will consider the important risk factors in deciding to purchase any of our products or services.