As a follow-up to my last blog post about breakout trading, I ask the question:
Is there a “Best” Day Trading Strategy?
I’ve found the one I like the best, in fact after many, many years, this is the one I LOVE!
You can get a free 5-day video course explaining it here:
FREE 5-DAY VIDEO DAY TRADING COURSE
Part of the answer is that you must find one that fits your personality. Just because someone else is successful with a particular day trading system, doesn’t mean that you will be. There are several reasons for this:
- You may not have the same risk tolerance as another day trader.
- You may not be able to “see” the patterns another trader sees.
- Your brain may simply work differently – some people are better trading numbers, while others are better trading visually.
- A day trading strategy used by another may simply not make sense to you.
- You may have a psychological need for more trades, or more confirmation than another trader.
That’s a short list, but hopefully you get the idea. Day Trading is not a “one size fits all” career.
While there are many trading techniques, and none of them may ever be proven to be the best day trading strategy, one thing has been demonstrated over time:
The market is a very dynamic, moving, and constantly changing thing. The best day trading approach must be flexible and adaptable.
Adapt or die!
I’ve seen so many traders adapt a day trading system, get excited that it works for several weeks or month, only to have it fail them when market conditions change.
This is a basic principle of nature. Charles Darwin rightly said that the organisms that survive are those that are the strongest, or the fittest. What he actually said was not that the “strong survive,” but that the ADAPTABLE survive as the environment changes around them.
In fact, that may be the best way to define “strong” or “fit” – ADAPTABLE – because it leads to survival through inevitable change.
Just as the world around us is constantly changing, so too, the Forex, futures and stock markets constantly change.
For this reason, the best day trading strategy will be one that is not static, but can change and adapt to changing market conditions. It is that type of trading system that will allow you to survive financially.
The method I’ve discovered does exactly that. In fact, that is the very focus of the day trading strategy – it measures the constantly changing energies in the market to point out with objective clarity when there is a high probability situation for making profits.
I created this video to give you a demonstration of this approach. Enjoy!
You can get the free 5-day video course explaining it here:
Good summary of the Trading Plan as taught in the Foundations courses. Trade this plan for profits.
A concise refresher. A very useful trading method.
Thanks for your valuable insight and easy teaching method, have you considered writing a trading book for dummies? That would be a great help!!
all good points in your discussion, but I think that visual presentation is much more
informative . Perhaps exammples demonstrating the varuious steps in preparing for an entry or exit would be ideal to convey the various steps and seeig how the percentage of a higher probability of executing a entry or exit for both long and short positions… makes sense to me.
This is very well explained Thankyou
This video was very clearly explained thankyou.
Hi Barry,
Useful refresher. Works on all time frames for me as long as you are not too greedy.
This is not a get rich scheme. Been using Barry’s methodology for almost 2 yrs now and fine tuning the best fit for me. I now strictly trade one instrument, 2 hrs in the morning averaging 1 trade per day and 4:1 win:loss. Used to trade 6hrs but I found it too taxing physically and mentally. And Barry is right that trading is not everything. Find your own balance 😉
Good introduction .Please keep the good info ,coming
Thank you
Awesome strategy, this approach I’ve found helps to identify major shifts in market bias early in the trend and then zero in on the right entry time. Money management by taking early partial profit to eliminate risk on remaining contracts is just as critical as timing.
A concise Pre-Trade Check List for a succesful and profitable trade.
Great summary. Great material. Great work.
Good afternoon Barry,
I see that you have a number of courses. I am interested in trading the ETF’s. Which course would you recommend me purchasing for that particular purpose?
Thank you for your answer.
Archie
Archie,
I trade ETFs too. I love them! You should get my Foundations Courses 1 and 2. We have a special discounted price when you get both at the same time, which you can read about on this web page: http://www.topdogtrading.com/Products_Course_1.html
I can’t tell how this improved my trading. It’s the best methology I have seen so far and I use it day by day.
Thank you very much!
Dr. Burns is a gifted and patient educator. His courses provide an excellent foundation to trading for new traders looking to learn how to trade. It is a complete methodology. Whether beginning and seeking to learn a methodology or whether a seasoned professional, everyone can gain something from the time, study, thought and effort Dr. Burns has put into his courses. Having spent a lot more in the course of my own learning it is value priced as the student gets far more than the price of the course. It is a great investment in the education and learning process.
I m watching and reading your vidios from last 1 year… They are fantastics… Ya really. It almost change my view towards graph and market…. Barry You are my “Guru”.
However I almost reconstruct your techniques. And Now Whatever is in my hand is “Superb”.
Credit goes to you Barry. And one day I will come to meet you..
I owe you
Thanks all the way…..
Prashant Mahajan
Very well explained in this video clip. Finally I got a full understanding of the five energies for a good trading setup.
Thanks Barry!
Time for ME to be disciplined.
Very educational Information. The learnings i’ve received from your videos has realy broadened my trading knowledge. I’m certainly going to use this info when trading.
very fantastic detail of best trading strategy
Thanks Barry.I find i always learn and refresh with your valued info
Thanks Barry. Your explanation is very clearly presented, appreciated, and makes a heap of sense.
Cheers,
Greg
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