The best time to day trade are usually the first hour after the open. Some traders also like to trade the last hour. Momentum is greatest at these times, with real buying and selling pressure creating the best trends. Many real time traders also follow the, “3 strikes and you’re out” rule. By limiting your trading to only three trades a day – MAX – you reduce your stress level enormously. You will be sharper and less likely to make mistakes. You also insure yourself against “suicide day”, when you take serial losses, each time trying to recover from the previous loss . . .
Now reading this away from the market you probably feel you would never make this mistake or fall into this trap. However, it is surprising how many traders have come unstuck in a real-time avalanche as the losses begin to snowball. The motto? Tomorrow’s Another Day. Take it easy. Don’t trade a 40-hour week. Accumulate your profits over time. You’ll make more by doing less. :-)
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I hope you will learn from my years experience as a professional trader.