Learn to Day Trade - Get Free Mini Course

Market Research for Beginners

Market Research for Beginners




Full Transcript

Market Research for Beginners: I am focusing on simplifying day trading for you. I will be showing you how I read the market and how I follow along. So this is where the market opens for me. It’s nine thirty Eastern, but I’m one hour behind. It is obvious that there is a beautiful trend going up.

It’s not perfect, but it is consistent and it is constantly making higher highs and higher lows. Right. So the first thing I do, I go and see if there are any news. And news was at eight thirty a.m. Eastern, which does not at all affect the market. Right. So excuse me.

So here I am. I start at eight thirty and I usually sit around. Let me do this little bit more macro. I sit around and I just let the market tell me what it’s doing the first 15 minutes or so. So remember, when we are in the live market, all we see are these things.

We have no idea what’s really happening. Right. So what I started noticing is that there is a pretty strong resistance area forming. Right. Look, I have several pivots here. It looks like oh, it looks like it might break through there. Up. It’s a resistance area.

What to do next with your day trading move?

So now I’m just waiting. I’m sitting around waiting because this is so not appealing for me. Right. I don’t like to go into areas. I don’t recommend going into any sort of areas. Wait for a breakout or a transition. Right. Meaning a change in the trend. So, bam, look at that. This is like a textbook textbook breakout. And I did this.

This is my break out trade. And it’s just ideal, right? It’s obviously broke. It broke with strength. I got right. And bam, I got out. This was my trade of the day, as you could say.

Right at this point I’m already trading for a good hour, pretty much by the time I get out of here. Right. So then I’m kind of just watching the market. And what the market is telling me right now is that there’s divergence. And whenever I see any sort of divergence, meaning right here, I don’t get it.

For me, it’s not worth it. It’s already really four into the trend. I don’t like to be so far into a trend. I’m very conservative. I like to, you know, be in really high. I guess trades are less so.

I’m seeing divergence. It’s just not worth it for me. It’s not worth it for me. And here it continues up. But at this point, I’ll be honest to you. I actually had to go. I had to go to. Anyways, I had things that I had to do, so I stopped trading. So this was my trade of the day today.

And as you could see, I’m not really following too many indicators. I love the Mac D. They are essential to all that I do. But as you could see, it was a beautiful breakout trade right here. And that was all that I needed.

Market Research for Beginners

Market Research for Beginners: How to be a Successful Day Trader?

If you want to learn more about my journey and how I started day trading you can read it here or you can watch on my YouTube channel.

If you want to start day trading with ease and confidence – Sign up for the FREE Mini Course.

So if you have any questions you can always ask me at traderchick.com and if you want to learn day trading basics – check out day trading Courses.

Market Research for Beginners