Should You Trade 24-Hours Per Day?
Perhaps it would be better to name the title of this post, “Should You Consider Trading All Times of the Day?” That’s because most of us would probably agree sitting in front of a computer for nearly a day without any sleep would make sensible trading quite difficult. Some of us who have visited casinos have seen people there who are sitting in front of slot machines for many hours. In fact, it’s quite possible to see someone “on a roll” or believes the next big win is around the corner, having sat there for 12 hours or longer. That is not too healthy as our bodies need movement and rest.
That’s why it’s more sensible to trade only when the ideal market conditions tend to occur as related to the day trading systems you use. If you have day trading systems that tend to work better during more volatile times, then perhaps trading at or around market open is best. I am not so aware of systems that do well in sideways markets, but if you do use one such method, then perhaps trading in off-hours is more ideal.
This video reviews Trade Scalper signals and demonstrates a real-time signal example. This signal occurred late in the day, so one of the advices provided was to avoid trading into the close. If you just want to get in and out quickly, the Trade Scalper may be the best approach. For scalping, this is a big move worth +3 points. Not all trades will be this great. The ATR (Average True Range) determines the profit target. The maximum profit target on a 5-minute chart may be around 4 points. On average, somewhere around 2 points is expected. On a 1-minute chart, you can expect around the same profit target. The 1-minute chart is used in place of the 5-minute when the 5-minute is too fast.
And when you get the Trade Scalper, there is no need to rush into trading real money right away. You can use NinjaTrader’s real-time simulator to get a feel for how it all works. Is the method easy? Fairly so; of course this will depend on experience, comprehension, and so forth. One can easily follow the signals and place a trade according to the rules. Memorizing the method isn’t a requirement beyond knowing trade management.