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Day Trading Strategies

Learn the basic skills and techniques for trading the stock markets in this free online training course.

Publisher: Yash Utmani
Day Trading involves buying and selling securities within the same trading day to avoid carrying the risks overnight. This free online course aims at teaching you many stock trading strategies and will help you analyze and understand the past performance of these strategies through backtesting. By taking this course, you will have a good knowledge of Day Trading Strategies which would boost your confidence in executing your trades in the market.
Day Trading Strategies
  • Duration

    1.5-3 Hours
  • Students

    186
  • Accreditation

    CPD

Description

Modules

Outcome

Certification

View course modules

Description

Day Trading involves buying and selling securities throughout the day to profit from the volatility of the market. All positions or securities are closed before the end of trading for the day to avoid an overnight risk or negative pricing between one day’s closing price and the next day’s opening price. For Day Trading to be consistently profitable, you will need to have a trading strategy or discipline to follow. This course is aimed at teaching you the strategies and technics to make your trades successful. In the opening section, you will be introduced to the course, the course outline, and requirements. You will also learn about the advantages and disadvantages of Day Trading. The key factors that can influence your trading, the type of strategy to adopt, and how to know if a trade is profitable or not. Also, the concept of backtesting, the types, advantages, and disadvantages will be covered in this section. Then, you will study the opening range trading strategy. The procedures on how and when to initiate a buy or sell position during day trading will be discussed. When to place a stop loss for a long or short position just below or above the opening range and how to backtest the Opening Range Trading Strategy will be explained. Thereafter, you will be trained on how to modify an existing Opening Range Strategy to see if it works better. Backtesting the modified strategy and how to compare the performance of the Opening Range and its modified version will be highlighted.

Next, you will be introduced to the Narrow Range Strategy and the candle system. The idea behind this strategy is to identify a candle of narrower range and compare it with the range of a specific number of candles preceding it in a 30 minutes chart. You will learn how to use the NR4/NR7 candles, when to initiate a buy or short position if the prices break after 30 minutes, and how to calculate the range of the candle for Day Trading.  The Day Trading entry and exit strategies using the NR4/NR7 candles, as well as backtesting the Narrow Range Strategy will be explained. Then, you will study how to modify the Narrow Range Strategy by adding a filter of exponential moving averages. When to buy, sell, or exit using the modified version will be highlighted. The methods of backtesting the modified NR4/NR7 candles and comparing them to see if better performance is achieved by adding the average moving filter will be covered. Furthermore, how to perform a live trade using both the Narrow Range and Opening Range strategies in a 30 minutes chart will be illustrated. A step-by-step process on how to execute live trading on the stock market and how to use the bracket order to fulfil trades will be clarified.

Moreover, you will learn about the Extreme Directionless Candle (EDC) Strategy. The idea behind this strategy is to identify inter-day market situations which point to extreme directionlessness in the market. You will study how to capture a small inter-day directional move that might emerge from this situation. The two indicators of the EDC strategy, how to set these indicators, and the rules governing the strategy will be explained. Then, you will be taught the Complex Strategy which is based on the NR4 Candle and the Inside Bar Pattern. The differences between the NR4 candle and the inside bar will be highlighted in this section. The Complete Trading Strategy, how to initiate a buy or sell trade using this strategy, and some examples of the NR4 Inside Bar and live trading will be also be considered. Too, money management in Day Trading, how to set your trading capital, and how much you should risk on each trade will be examined. Lastly, you will be educated on the benefits of risking only one per cent of your trading capital, how to choose the correct strategy, and stay disciplined. By the end of this course, you should have a good understanding of some valuable Day Trading strategies and how to manually back-test them. This would help you avoid the mistakes that many modern-day traders make in the market. Start this course today.

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