The Best Day Trading Strategy For Beginners
The best Day Trading strategy is the one that works best for you at a time of the day that suits your current lifestyle. One of the luxuries of Day Trading with IDTA, is that the markets we trade run 23 hours per day, 5 days per week. This means you can typically trade when you want to, as opposed to changing your life to fit in trading.
4 Day Trading strategies for beginners
There are many Day Trading strategies for beginners that you could learn to trade. When choosing a strategy, and an educator, we suggest concentrating on a strategy that is proven daily, live in front of your eyes, in a Live Trading Room environment. We believe that a Live Trading Room environment offers you 100% transparency of strategy performance and allows you to judge a strategy for what it really is.
Anything less than 100% transparency, for us at the International Day Trading Academy, is unacceptable. So much so, we run a free Live Trading Room Trial for any person, globally, that wants to do some due diligence on our strategy and the best way to learn day trading.
Markets demonstrate repetitive patterns, with trends being defined as harmonic phenomena. This means trends can be subdivided into small or large waves that can be harnessed by traders to predict price direction. Harmonic patterns have a high success rate and can be utilised in all financial markets including stock, precious metals, crypto, forex and indices.
The ABC Pattern makes use of market symmetry and harmonic price movements, ultimately allowing traders to determine risk versus reward beforehand. Many find that the simple and consistent nature of the ABC pattern makes it the best day trading strategy for beginners.
The ABC Pattern takes advantage of the pure price movement of the market and is both easy to recognise and also trade for the majority of traders. The ABC pattern is a commonly occurring pattern in the market and can be used to identify high probability trades both when the market goes up and when the market goes down.
The key to recognising an ABC Pattern is to correctly identify the A, B and C pivot points while they are still forming. The potential C point of the pattern can usually be predicted using Fibonacci retracements of the AB swing. Then, once all three are identified, a projection algorithm can be applied to calculate the profit target.
The day trading strategies that International Day Traders Academy traders can generate out of the ABC Pattern include the following:
- Reversal Trades (pattern)
- Bias Switch Trades (pattern)
- Continuation Trades (pattern)
- Swing Trades (pattern)
- Momentum Trades (pattern)
- Delta Signal Trades
- Efficiency Signal Trades
Trend trading, in our experience, is one of the easiest day trading strategies to get right. If the market is in an uptrend, you are simply buying into this uptrend using a valid signal. If the market is in a down trend, you are doing the same, yet in the opposite direction. Trend trading typically results in high probability trading as you simply join the market in the direction the market is already moving. Simply put, trend traders wait for a trend to develop before taking a position.
Trend trading typically also allows for quick risk control. As there is risk in every trade, we want beginner traders to control this risk quickly, as the market allows. We have some very smart risk control strategies that we are more than happy to teach you when you get started with the day trading courses for beginners from the International Day Trading Academy
The Delta Signal
This trade signal has become a favourite with International Day Trading Academy traders globally. The DELTA indicator identifies your trade entry and target for you, with the intention of making it easy for new traders to get their head around trading quickly and in a responsible manner. The DELTA Indicator generates 100’s of trading signals on a typical trading day and is a staple signal for a lot of International Day Trading Academy Traders globally.
The Efficiency Signal
The Efficiency Indicator is based on Buyer/ Seller dominance in the market. Traded alongside the ABC Pattern, the dominance of the Buyers/ Sellers in the market is a site to behold. To make the base concept of dominance easier to teach, the International Day Trading Academy launched the Efficiency Indicator in early 2019. The Efficiency Indicator identifies high probability trades live in the market for every International Day Trading Academy client globally to take advantage of. Like the DELTA Signal, the Efficiency indicator is designed to make the International Day Trading Academy Education Process simpler and easier to understand and execute.
Day Trading Strategy Rules
All International Day Trading Academy trading strategies have strict rules that govern the use of each strategy. These rules are detailed in the International Day Trading Academy Education packages. If you attempt to apply a strategy to your trading but do not abide by the rules, you are likely to be unsuccessful at trading.
No matter which strategy you choose to begin with, make sure that you stick to it. Mastering one strategy is more beneficial than being just ok at several strategies. You may have heard the age-old saying, “Jack of all trades, Master of none!”, and this could not be more true when it comes to developing a strong confidence around trading.
This article merely scratches the surface of the many different strategies and techniques ideal for beginner traders. Our courses are designed to teach beginners the intricacies underpinning each of these strategies, and the tools they need to provide more opportunities in the market. If you are a beginner interested in learning more about how to apply these or other day trading strategies, discover our range of day trading courses.
Trade 1 strategy on 1 market at 1 timeslot until you have mastered it.