Day Trading Strategies

The most common of day trading strategies is entering and exiting positions based on specific conditions. The key is to define the exact conditions of entry and exit, which should be repeatable and measurable. Candlestick setups are a great way to find entry points. Traders using the doji reversal pattern typically look for three distinct steps of confirmation before entering and exiting a trade. Once the doji reversal pattern is identified, the trader can enter the trade.

A similar strategy is called position trading. This strategy involves monitoring fundamental factors rather than short-term price movements. Unlike scalping, position trading has a long-term focus. Position traders generally only open a few trades a year, and their profit target is usually a few hundred pips per trade. In other words, position traders will open several trades, but they may make more profits

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