How I Made $47,692.27 In A Single Day
The Subtile Trap of Trading
Day Trade Extreme
The Psychology of Price Movement
Trading Stocks and Options as a Business
Inside Days Chart Pattern Course
Free Forex Trading Course
by Jens Clever
For longer term trades I strongly advise using automated stops for your protection. They have two advantages:
Please be careful though with stop orders, and study your brokers order guide carefully. Some stop orders are only saved on your computer; if you lose your Internet connection or your computer crashes your order wont be send out anymore and you are not protected.
The slowest part of the day trader's day is generally 11:30AM- 1:30PM, when the overall volume of trades is usually very low.
A well-known general rule is that a day trader should not trade during these hours, since moves are more random and less predictable. However, I find many interesting and often very strong moves during this period and therefore I don’t agree anymore with this “old” day trading wisdom.
This is especially true, if there wasn’t much movement in the first trading hours. If the first hours were slow, then the day trader will often see strong moves over noon. If the first hours were very volatile, then lunch-hours are most likely very slow. (More articles on day trading.)