Does it feel like a white-knuckle ride whenever you put on a trade? If the answer is yes, something is going wrong. This kind of excitement may be great for the recreational trader. But for the day trader it can be devastating.
Orders are often seen as nothing more than a side show to the real business of trading. Yet the range of different order types that’s available offers you a powerful and easy way of creating some automatic trading rules.
Day traders should understand that news of the day greatly affects both pricing and volume, and should be used when setting up daily strategies and when pulling the trigger – both in buying and selling.