Intraday Tips

 

Intraday Tips for achieving intraday trading goals and success.  So what’s the best intraday trading tip?  Buy low, sell high. Sell high, buy low, of course!  But seriously, if it were that easy then everyone in the world would be day trading. Without the right knowledge, understanding, tools, and developed skills, trading may qualify as the very toughest of all professions!

Discipline and risk management are equally important even if you use and have the very best timing tools and information in the world that put the odds dramatically in your favor every time you pull the trigger in the markets.  However, without a winning trading and timing system or approach, all of the mental discipline and flawless execution will not help you. In fact, most trading plans or systems used “lag” the market. This means by the time you get what appears to be your excellent buy or sell signal, the trade may be over!  Everyone learning the skills to trade has experienced the almost uncanny ability to make, what appears to be, the market move in the exact opposite direction you were trading! It’s not your fault. You were using indicators that lag and get you in too early or too late. There is a much better way and more effective approach that leads the market. This is a TIME based approach.

1. A time based trading approach. This works in any time frame you want to trade, not just intraday trading. You can use this approach as a longer term investor, trading a monthly time frame, or a swing trader using a weekly or daily time frame if you know the key turn dates of the week, month, and year. What is important to always remain aware of is the TREND. However, when time is up, the trend will begin to change! If you don’t know what the present trend is in all of the time frames you are trading, you better stop right now. This means knowing if the trend is up or down in the monthly, weekly, or daily time frame. The next step for intraday trading, is to have your charts set up in the faster time frames, such as 60 min, 15 min or 4 min. For intraday trading and timing used with the daily astrotimer, I recommend using a 4 min time frame. A top/bottom or reversal usually occurs within a few minutes of a key time. Visit, intraday trading strategies, to watch my latest youtube using the timing signals alone in a 4 minute time frame and the best entry approach.

The guidelines are if price is trending lower and tests a key planetary support level at a key astro-time of the day, this creates a trade opportunity for a short term reversal or trend change. If price is trending higher and reaches a key planetary resistance level at a key astro-time, then this creates an opportunity to sell for a reversal down. If price is trading sideways, then real break outs usually occur at one of the key times for short term trading opportunities.

2. Understanding which approach to use on any given day is equally important for the most effective intraday trading strategies. Key questions to ask yourself each day: Is this a reversal day from up to down or down to up?  Is this a continuation day or consolidation day in the markets? All of my daily market timing reports include the key turn dates of the week in Monday’s weekly overview. These key turn dates of the week are also posted at my blog every weekend at www.AstroAdvisor.com.

If a “reversal day down”, we want to be oriented on the short side and be looking to sell rallies. There is a very good reason behind the motto, “the trend is your friend.” When the trend is down, the percentage of the moves lower will far exceed the percentage of the moves higher. Therefore, selling rallies at key planetary resistance at the right key times for reversals will dramatically increase your odds of winning and number of winning trades. For example, on Monday, April 27, 2015, it was a key reversal day down for the EMini S & P. The key weekly planetary resistance level was identified at 2116 – 2120 on Monday in my Daily E-Mini Astro-Report™ for astro-timing Emini trading strategies. That turned out to the be the high, shortly after the open. A strong downtrend continued all day until the low completed at 2101.25. Selling only rallies was the winning strategy on this particular day.

Conversely, if it is a “reversal day up”, we want to only buy dips or pullbacks and catch the reversals up during the day for the greater percentage moves higher. This strategy works best when price tests key planetary support levels at key times for reversals up during the day.

Other days are “continuation” days and “consolidation” days. On continuation days, this means the market is continuing in the same direction of the previous days trend. Your technicals or trailing moving average or indicators will define if the trend is still up or down. On consolidation days, the market is not trending higher or lower. It is basically taking a breather and trading in a range. The best approach on these types of days is to trade the daily range or scalp for quicker profits.

3. Money and risk management: Most professional day traders usually risk around 1 – 2 % per trade. It also depends on how strong the trade setups are and volatility.  The amount of initial risk is based on your stop loss placement. Proper stop loss placement is below or above key planetary support or resistance levels where the market began to turn.  Profit objectives are at key support or resistance levels once a trade moves your way. Equally important is scaling out of winning trades and taking profits along the way. Trailing stop losses are used adjusting your stop loss once a trend is established to lock in your profits. Another important point is once the trade begins to move enough your direction, move your stop loss to B/E (break even). There is never a reason to let a winning trade turn into a losing one if you don’t have to. Always protect your capital.

4. Trading psychology: There is the “inner game” as well as the “outer game” of trading, just like in playing sports. Confidence is everything. Confidence in yourself and skills as well as complete confidence in the trading methodology, approach, and tools you are using.

If you are using a winning timing system that produces a very high percentage of winners, why should you care if you have some losing trades if these losses occur a small percentage of the time and are at a predetermined amount, a very small percentage of your capital such as 1 or 2%?  Taking losses at times in the markets is a normal occurrence and is one of the costs of doing business including commissions, continuing education, computer equipment, software programs, newsletters, advisory services, and tools that give you valuable information and the trading edge to win.

The “catch 22″ is if you have all the confidence in the world and perfect skills executing trades, managing risk, and taking profits, etc. but are using a mediocre trading approach or lagging indicators, an excellent “inner game” won’t help you much. On the other hand, even if you are using one of the best possible trading methodologies in the world for timing the market and have the ultimate trading edge, and you don’t have confidence in the system or yourself, you will not be able to execute it consistently to make it work for you. The outer game, (a winning trading and timing approach as well as the developed skills), and the inner game, (confidence in the system and yourself), must be in harmony.

A professional athlete believes in their abilities and has the developed skills to excel. They also are very disciplined, practice continually, get adequate rest and nutrition, and don’t allow their personal lives to interfere with their ability to perform. This is no different as a trader.  It is important to be healthy, both physically and emotionally, and in the right frame of mind to execute consistently and adapt to the changing market conditions during the week and each day if you are doing intraday trading.

I hope you have found this information to be helpful intraday tips for trading. This is only a starting point. If you are less experienced in the trading profession, it requires education, skills, and an approach that increases your probabilities of winning every day. The right knowledge, timing tools, and advisories can help improve your results and will increase your probabilities for winning in the markets.

You may also visit Financial Astrology to learn more about the field of astro-finance or Get Started Now with your two week trial of my Daily AstroTimer™.

T.S. Phillips