ilmscore | 3 Simple Day Trading Concepts That Will Rapidly Transform your Results (Wish I Knew These Sooner...)

3 Simple Day Trading Concepts That Will Rapidly Transform your Results (Wish I Knew These Sooner...)

Published: 2022-08-06
Status: Available | Analyzed

Predictions from this Video

Total: 12
Correct: 0
Incorrect: 0
Pending: 12
Unrated: 0
Prediction
Topic
Status
The top five currency pairs with historically low spreads are EUR/USD, GBP/USD, USD/CAD, USD/JPY, and EUR/JPY.
"the top five currency pairs that have the lowest spreads historically on average as you can see they are the euro dollar the pound dollar the dollar canada the dollar yen and the euro yen"
Forex Trading Pairs
Pending
A strategy referred to as 'the only day trading strategy you'll ever need' is available and is based on the CESD framework (Conditions, Entry, Stop Loss, Target).
"i'll put a video in the description and in the top right hand corner of the screen i think i called it the only day trading strategy you'll ever need and it's literally a strategy based on this"
Day Trading Strategy
Pending
For day trading, never risk more than 1% of the account on a single trade.
"never risk more than one percent on a specific trade in my day trading"
Day Trading Risk Management
Pending
It can take 3 months to 1 year to master profitable day trading.
"Understand that it may take you three months to to a year to completely master being a profitable trader"
Day Trading Proficiency
Pending
Traders should prioritize trading currency pairs that historically exhibit low spreads.
"only trade pairs with historically low spreads"
Forex Trading Strategy
Pending
The top five currency pairs with historically low spreads are EUR/USD, GBP/USD, USD/CAD, USD/JPY, and EUR/JPY.
"the euro dollar the pound dollar the dollar canada the dollar yen and the euro yen"
Forex Trading Pairs
Pending
Day traders should exclusively use a rules-based strategy that has a proven track record of historical profitability.
"only want to trade based on a rules-based strategy that has proven to be historically profitable"
Trading Strategy
Pending
A robust trading strategy requires clearly defined conditions for entry, an objective entry method, and a fixed rule for stop-loss placement.
"create your conditions you need to see before an entry then i also have to have an objective way i enter the market ... i must have is a set in stone rule for my stop loss"
Trading Strategy Development
Pending
Trading strategies should be backtested using historical data from the past two to three years to assess profitability.
"test it for the past two to three years"
Backtesting
Pending
Day traders should limit their risk to a maximum of 1% of their account value on any single trade.
"never risk more than one percent on a specific trade"
Risk Management
Pending
Trading based on emotions is predicted to lead to long-term financial losses for traders.
"not trading based on emotions ... anyone that's trading based on emotions is going to lose money over the long run"
Trading Psychology
Pending
Becoming a consistently profitable trader is estimated to take between three months and one year to master.
"it may take you three months to to a year to completely master being a profitable trader"
Trading Patience
Pending