Day Trading for a Living (Stock Market Trading and Investing)

by Andrew Aziz

real time New High of the Day Scanner or when advised by someone in our chatroom), I patiently wait until I can identify a clean consolidation period. I do not jump into the trade right away (you will recall that is the dangerous act of “chasing the stock”) because I cannot put a proper stop loss if I am chasing the stock. I watch the stock during the consolidation period. I choose my share size and stop loss and exit strategy. As soon as prices are moving over the high of the consolidation candlesticks, I enter the trade. My stop loss is the break below the consolidation periods. The perfect entry is when both 1-minute and 5-minute charts make a new high at the same time (compared to previous candlesticks). It is therefore important when executing a trade in this strategy to be looking at both charts at the same time. I sell half of my position and take a profit on the way up, usually with a break of the high of