There are multiple ways to be a pattern day trader. Some pattern day traders rely on charts and patterns to make decisions. Other day traders use a tactic known as tape reading to judge the direction of the market or even a single stock. While still other pattern day traders utilize a technique known as news trading.
Trading news events is a very popular strategy among pattern day stock traders. This strategy involves being keyed into market news and rumors that may affect your stock or stocks throughout the day.
There are various business rumor mills on the internet, generally in the form of stock message boards. As you can expect, trading off of rumors can be very risky, but can also pay off in spades.
The key is to learn the authenticity of the rumor monger prior to taking a trade based on the rumor.
There are news services such as Trade the News that distill the day’s business news into tradable intelligence in real time throughout the day.
There are multiple ways to be a pattern day trader. Some pattern day traders rely on charts and patterns to make decisions. Other day traders use a tactic known as tape reading to judge the direction of the market or even a single stock. While still other pattern day traders utilize a technique known as news trading.
Trading news events is a very popular strategy among pattern day stock traders. This strategy involves being keyed into market news and rumors that may affect your stock or stocks throughout the day.
There are various business rumor mills on the internet, generally in the form of stock message boards. As you can expect, trading off of rumors can be very risky, but can also pay off in spades.
The key is to learn the authenticity of the rumor monger prior to taking a trade based on the rumor.
There are news services such as Trade the News that distill the day’s business news into tradable intelligence in real time throughout the day.
Source: http://tradingtips.com/daily/day-trading/day-trade-news/
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