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5 Tips to Take the Best Trades

Updated: Mar 7

All traders have one thing in common: no one really knows where the market is going. Regardless of your experience, each of us is subject to the same swings and variations in market prices.

We know that trading brings highs and lows, and we want to help you get the most out of your strategy to have the best results. Many times it may not seem so, but trading is a job of patience. That's why today we want to give you some keys so you when is the right time to trade.

1. Avoid distractions. Please don't do two things at the same time, as lack of concentration can play against you. However, we advise you to let your screen rest for a while, especially on days when the market is very volatile.

2. Don't expect only the best. Your decisions shouldn't be based on hope or luck. In the case of an unfavorable market direction, apply your trading strategy and decide on your next move accordingly.

3. Evaluate the positions you are going to take. It is not necessary to take dozens of trades on a daily basis. Sometimes a single order is all you need. The important thing is to become consistent in the long term.

4. Set limits. Limiting your orders means setting the price at which you are willing to close a trade. Limiting the order is useful, as it helps to minimize risk. That's why we always recommend you to use the stop-loss.

5. Create a strategy for slower days. Set your limits so that you receive signals when the market does not behave as expected. It is important that you do back-testing so that your chances of taking advantage of the market increase.


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Published by Day Trader Resources  | Contributor / Editor: Laura | Date: September 2, 2021 ©2021 Day Trader Resources is a ™ of Vigor Media LLC | All Rights Reserved