Day Trading Breakout Strategy In 5 Simple Steps – (Intraday Trading Breakout Strategy)
I have begun this video on Intraday Trading by explaining 5 Simple steps required to successfully trade this Intraday Strategy. First step I have explained in this Intraday Trading Breakout Strategy is that of Advance Decline ratio wherein long trade or Short trade should only be taken in Intraday Trading if conditions of Advance decline are fulfilled.
Second Step I that I have explained in this Day Trading Breakout Strategy is that of Timing of Breakout & Context of Breakout. Under Timing of Breakout, I have shown why it is important to know when Breakout is happening in Intraday trading and how it impacts your approach to book profits and in Context of breakout, I have shown why it is important to target clean charts in Intraday Trading.
Third Step In this Intraday Trading Breakout Strategy is about defining a range on chart. Now I have shown range can be either horizontal or at an angle and this does not matter. However, in intraday trading, one has to emphasize on marking out clear range on chart in order to identify breakout.
Fourth Step in this Day trading Breakout Strategy is about Short term relative Strength. I have pointed out why it is better to focus on those stocks that are out performing over 2-3 sessions if one is looking to buy in Intraday trading.
Fifth Step in this Intraday Trading Breakout Strategy is to focus on Price volume trend. I have explained why it is important for volumes to expand in up trend and down trend while taking trades in Intraday trading.
In this video, I have outlined a framework which you can follow to become a successful intraday trader.Instead of relying on Intraday Trading Tips, you can use these videos I have posted to learn more about Intraday Trading.