The best time to ask questions about trading is during the day. If you ask the hard questions, you can often get a more direct answer. Even better, if you follow some of the advice below, you’ll be able to make money, too!
1. Know your trade type
Trading is all about identifying how your market is changing by using a market chart. If you’re still trying to figure out what the best time to buy or sell your stocks will be, consider this chart:
This chart is an example of an intraday chart. In a traditional chart, each bar represents one of your stocks. This means that in each bar, there is a specific price at the bottom, which represents the first trade. The bar at the top represents the price at the top of the next trading day. This is why intraday charts are so important.
Using an intraday chart, you will see that if you buy or sell a stock at 4:00 PM on Monday, your trading day will look like this:
If you trade on a daily or weekly basis, you will see a different picture. If you buy Tuesday, you will see that the chart looks like this:
2. Know your market
In the chart above, the black bars represent different stock types. The green bars represent stocks at a time when the market is bullish. The blue bars represent stocks at a time when the market is bearish. As you can see, you’ll be trading stocks like this every day of the week.
One other important thing to remember is that a bullish or bearish market is like a roller coaster, in which it takes a long time to build up momentum and reach a high. If you buy on Monday and sell at 8:00 PM on Friday, you will see your profit decline after Monday – you’ll need to make another trade to get back on target. On the other hand, if you buy on Wednesday, sell at 5 PM on Thursday, and buy on Friday at 8:00 PM, your profit will increase after Wednesday – you can again trade on Monday or Saturday.
3. Have specific questions for your traders
If you haven’t yet been able to pick a good time to trade intraday, take a few minutes to read some tips for choosing times to buy and sell stocks and what they mean.
4. Make it fun
Sometimes it’s hard for traders to have fun trading. But
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