Futures Trading
BASIC THINGS 1) Basic Instructions
2) Discount Markets
2) Advanced
2) Volume Profiles
3) Trading Indicators
THE SYSTEM 1) Trading System
2)Long-Term analysis
3)Short-Term analysis
3) Trading Analysis
MARKET TIMING 1) Candlestick Charts
2) Candles Patterns
3) Chart Patterns
4) Continuation Patt.
E-Mini System
O/R System
Dow Futures
Forex systems
FX Introduction
COMMODITIES 1) Commodities
Commodity System
Oil Futures
MANAGEMENT (Risk, Mind & News) Risk Management
The Trader's Mindset
Market News
SIMULATOR Trading Simulator
FUTURES BROKERS 1)  What to look for
2) Futures Brokers
TimeFrames Analysis
"Super Tech Analysis"
CHARTS and QUOTES Charts and Quotes

Day trading for a living. What is needed?

day trading for a living can be quite difficult and quite stressful, trading is just about probabilities and nothing else, we as traders, must put the odds in our favor.

So far the only way I consider we can be trading for a living is measuring and quantifying Real supply and demand in futures trading charts or forex charts.

The real key to day trading for a living lies in identifying where supply and demand is most out of balance. This is where price turns and profits are made.

Once price changes direction, where will it move to? Price moves to and from the significant buy (demand) and sell (supply) orders in a market

Click here to learn more about Supply and Demand in futures trading charts.

The main reason you would want to know how to time the market's turning points (To do this Identify Supply and Demand in futures trading charts) in advance is to attain the lowest risk, highest reward, and highest probability entry into a position in the market.

By entering as close to the turn in price as possible, three key things are in our favor:

  1. Low Risk: Entering at or close to the turn in price (Demand or Supply level) means you are entering a position in the market very close to your protective stop. This let us get a great profit while not risking more than what we are willing to lose.

    The further you enter the market away from the turn in price, the more you will have to reduce you profit target.

  2. High Reward: The closer your entry is to the turn in price, the greater your profit target. The further you enter into the market from the turn in price, the more you are reducing your profit.
  3. High Probability: Entering at or near a Supply or Demand level means that you have excellent Market Timing, therefore, knowing where the real buyers and sellers are in a market.

Turning points are essential when day trading for a living, identifying them makes the difference between consistent profits and random results. Of course, the trader's mindset and psychology is another factor that MUST be taken into account. More than just entry and exit points.

Normally traders say:

"Try to catch the middle of the move and follow the trend, that way you will be day trading for a living in a matter of months."

In my humble opinion, they do not know and forget that if price is already moving higher, for example, and you want to buy, your entry will be further away from the real Demand or turning point getting nearer to the Supply level or where the market will turn back down again, limiting your profits.

Question such as where do you enter?, where is your protective stop?, etc have always been on my mind when i hear this...

For me catching the middle of a move and making a consistent low risk day trading for a living is harder than proper market timing identifying Supply and Demand.

I am not suggesting the trend is not important. I just want to be in the market well before the trend is underway. So remember my friend that to be day trading for a living two main points must be consider:

  1. Where are the turning points? and how to identify them?
  2. Do i have the trading psychology and capital to trade for a living?.

    Click to go back to futures trading online articles from day trading for a living

    Click here to go back to Futures Trading How To

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  • Reader's Testimonials

    Praveen from Miami, Florida.

    First I must congratulate you on a very successful and useful site. It is practical and really helps to trade with confidence. Excellent work. Trust me when I say this...

    I have gone through thousands of sites before I came across your work and indeed it is commendable. I have one question for you. After drawing support and resistance lines on the 30 and 5 minute chart, do you then focus on a 2 minute chart and take your trades based on candlestick patterns?

    Robby from Indonesia.

    WOW, very very good materials. I've been studying market profile and supply and demand for about 2 years now. So far, I found the materials in your website to be very generous.

    Jose, Las Palmas, Gran Canaria, España.

    Hello, i only want to say you thank you for all this free information, for me that I'm a begginer all this information is pure gold.

    Thank you very much.