I made $21K in 32 minutes DAY TRADING my best strategy (2023)

TL;DR

The content discusses a day trader's morning top reversal strategy and walks through their trading session where they made $21,000.

Transcript

so today I made $21,000 day trading this one strategy which is my morning top reversal and what I want to do is I want to cover exactly where I got in where I got at and just basically walk you through my trading session and walk you through my trading strategy so with that being said let's dive into it so here you go here are all the four trades I... Read More

Key Insights

• 📊 It is important to have pre-market notes and a game plan before starting a trading session to have a clear understanding of market themes and potential scenarios.
• 💰 Day trading can be profitable if a well-defined strategy is followed and entry and exit points are carefully planned.
• 📈 The morning top reversal strategy involves looking for key levels, gauging buyer and seller activity, and taking short positions when there is weakness and no follow-through of aggressive buying.
• 💡 Keeping a journal and tracking trades allows traders to analyze what worked and what didn't, identifying areas for improvement.
• 🔍 Volume and price action analysis, including the use of footprint charts and tape reading, can provide valuable insights into market strength and weakness.
• 🔒 Risk management is crucial in trading, with each trade having a cost and a predefined level where the trade is considered unsuccessful.
• 🔄 Taking partial profits during a trade can help manage risk and secure gains, especially when price approaches key levels or extreme areas. ⏰ Some trading strategies work best during specific timeframes, such as the first hour to hour and a half of the market open, and it's important to set clear guidelines for when to trade based on the strategy being used.

Questions & Answers

Q: What is the trader's morning top reversal strategy?

The morning top reversal strategy is a trading strategy used by the trader to capture downside moves in the market, specifically looking for rejections and weakness at key levels.

Q: How does the trader use pre-market notes to prepare for their trading session?

The trader writes pre-market notes that include the theme of the market, potential scenarios, a picture of the pre-market session, and trade breakdowns after the day is done. These notes help the trader have a game plan and understand the market before entering trades.

Q: What market signals does the trader look for before entering a trade?

The trader looks for rejections and weakness at key levels, as well as aggressive selling or buying activity on the tape. They also analyze volume and delta to determine market strength or weakness.

Q: Why does the trader take partial exits during their trades?

The trader takes partial exits to secure profits and minimize risk. They explain that they don't like to hold positions after big moves up or down without any consolidation or retracement. Taking partial exits allows them to lock in profits and reassess the trade setup.

Summary & Key Takeaways

• The content covers a day trader's morning top reversal strategy, which helped them make $21,000 in one trading session.

• The trader emphasizes the importance of pre-market notes and having a game plan before entering the market.

• The trader explains their entry and exit points for two trades, highlighting their strategy and the market signals they looked for.

• Morning top reversal strategy helps trader make $21,000 in one session.

• Pre-market notes and game plan are essential before beginning a trading session.

• Trader explains their entry and exit points for two trades, emphasizing market signals and their strategy.