There are many intraday trading strategies nowadays, but our task as traders is to determine the best ones that suit our risk management, psychological factors like patience or impatience, and many others. First of all, let me tell you about what the intraday strategy is and who it is suitable for.
If you don’t have enough time to look at the charts or just hate spending hours trading at the desktop, then the intraday approach may be a good choice for you. It doesn’t require you to follow your trade positions around the clock, and you can trade safely without worrying about short-term fluctuations in financial markets unlike scalping strategies. For instance, a trader can open a position at the beginning of the US market session and hold the position while the market won’t close to the end of the day. In other words, you can make a profit in less than one day without looking at the charts for hours.
You may wonder what the big deal is, but because of that, many traders get significant losses. It may sound simple but it’s quite challenging in practice during real trading with real conditions. If you’re ready to hold positions for so long, then I think it’s worth giving it a shot in practice for you.
I’ve been using different intraday strategies, but there is no need to describe every one of them. Instead of that, I’m going to share with you one of the most effective strategies that brought more than 270% of profit to the initial deposit. This is the strategy of the “Bollinger Bands”.
For your information, I open trades on the binomo trading app. As you can see, the “Bollinger Bands” is a technical indicator which you can use on the charts. It has an upper, middle and lower line. I always use Bollinger bands only on the 3-hour timeframes, and it works perfectly when I need to find ideal entry points for intraday trading. This timeframe allows me to get a whole picture of what’s happening with the asset. I recommend everyone to use only big timeframes if you want to succeed in trading by using this strategy. Of course, you might now be wondering “how do you trade using bollinger bands?”, there is a simple rule here, “BUY AT THE BOTTOM OF THE LINE AND SELL AT THE MIDDLE OR UPPER LINES”. In the screenshot, you can see that I managed to open positions on the EUR/USD four times at the lowest entry point. Hence, there was a strong bullish movement to the highest exit points between the middle and upper lines. Thanks to this, I captured significant market movements and earned about more than $800 by closing these long positions. It would not have been possible without the promo code “PowerX2” on the binomo platform, which gave me a 100% deposit bonus and allowed me to trade with larger capital.
I hope you were interested in reading about my personal experience and you will be able to take something useful from it! Please do not forget to press likes and share your thoughts in the comments...
Reminder: everything described here is not financial advice!
