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Daytrading > Volume one > Flashcards

Volume one Flashcards

1
Q

When is the best time to daytrade?

A

The best time to daytrade is between 9:30 AM and 11:30 AM

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2
Q

When is the max cut off time to stop or slow down daytrading?

A

11:45 AM

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3
Q

What are the two main reasons why it is best to daytrade at this time?

A

A higher level of volatilityIs experienced.Also it is easier to get in and out of positions

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4
Q

What is support?

A

Support is a level in which the price can’t go any lower

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5
Q

What is resistance?

A

Resistance as a point in which price can’t rise any higher.

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6
Q

What does support represent?

A

Support represents a floorOr bottom

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7
Q

What does resistance act as?

A

Resistance acts as a ceiling. Price will reach upHit that ceiling,And bounce back down.

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8
Q

Define a breakdown.

A

Support is the bottom. Take the word downAnd price will break through it.

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9
Q

What can potentiallyHappen in a breakdown?

A

The support level that price action breaks throughCan potentially become resistance

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10
Q

What can a breakout potentially become?

A

A breakout of a resistance levelCan either break out and come back down or potentially turn into supportLevel

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11
Q

Describe the action of a breakout?

A

A breakout is going upMeaningPrice action is breaking outAnd threw a resistance level

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12
Q

Describe the action of a breakdown?

A

Take the word downWhich is a bottom or supportAnd price action is breaking downUnder it

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13
Q

What is a pullback?

A

A pullback occurs in an up trend or a down trend And as one price is moving on One Direction And then pulls back and consolidates. That period of consolidationIs the pullback

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14
Q

When is the best time to make an entry on a pull back?

A

The best time to make an entry on a pull backIs the first pullback or the second pullback

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15
Q

When is the least ideal time to make an entry?

A

The least ideal timeTo make an entry Is the third pullback or later.

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16
Q

What is best to remember about pattern trading?

A

Pattern trading does not work on all stocks

17
Q

What type of stocks does pattern trading best work on?

A

Pattern trading best works on stocks with a high relative volume

18
Q

When is the best points in time to make an entry?

A

When the stock reaches an Apex point

19
Q

When is the Apex point in an up trend?

A

The Apex point is the candlestick that breaks the previous candles high

20
Q

When is the Apex point in a down trend?

A

The Apex point and a down trend is the candle stick that breaks the previous candles low

21
Q

If you are in a down trend making a play where should your loss be?

A

Your stop loss should be at the low of the previous candle

22
Q

Your blank time should be used to blank

A

Premarket time to be used to scan

Daytrading (1 decks)

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