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Hey, traders, it’s Marina the trader chick. And today to simplify your day trading, we’re going to talk about the three most important positions in day trading. That’s right. There are only three that we as pro traders have to take. And you are about to find out.
But first, remember to subscribe below, because I’ve got lots of these kinds of videos to simplify your day trading. Do you know what the three positions of day trading are? Okay, so here’s the thing. Quick and simple. If you don’t get these three, you are going to continue losing position number one.
Know when to get in. Where are you taking your trade from? Don’t just be like, oh, that looks like a really cool long trade. Long candlestick. I’m going to go here.
Recommended Read: Learn How to Day Trade Successfully
You have to know exactly where to enter the market. There is no guessing because you as the proceeds are telling the market where you are going to get in. But you need to know that first and foremost, ready position number two, know where to get out. You cannot be like, oh, that looks like it’s continuing, continuing. I’m going to go.
I’m going to continue and then guess what? It turns on you and stops you out. You have to tell the market exactly where you want to take your profit. You have to let the market know exactly where you want to get out. And that goes the same for risk management.
You need to tell the market, you know what? If it’s not going to go there, this is all that I am giving you to take from me in this particular trade. So you have to understand exactly where you are getting out either your profit or your risk, ready for the third position. And this is the most important position and least talked about. But this is the one that is going to not only save you the most amount of money but probably allow you to make the most amount of money.
You ready know when to stay out. Guys, this is super important. Day trading is not all about getting in and out, in and out, in and out. It knows where to get in. It knows where to get out.
And it’s so important to know when to stay out because being in the position of sitting and waiting for a good trade setup is going to be the hardest position you’re going to take. I guarantee that. But it is also going to be the one that gives you the most amount of reward. So remember three positions where to get in, where to get out, when to stay out. All right.
This is Marina the trader chick. Remember to subscribe below, and I want to know what is your greatest challenge when it comes to trading. What positions do you think are more than just these? So comment below. And remember, every week I have new excellent Simplifying date trading hacks for you.
Related Read: How to Succeed in Day Trading