How to day trade futures using price action?

The first step to day trading futures using price action is to select the future contract you want to trade. A futures contract fit for day trading must fulfill two criteria. It should be volatile as market movements are the source of our trading profits. A dead market does not offer much room for day traders to profit.

What makes a successful price action trader?

In brief, a successful price action trader will study the market intensively and internalise the meaning and weight of a selected subset of price action in terms of its likely effect on future price movement. A certain type of price action behaviour will trigger bearishness or bullishness.

Is past price action a guarantee of future price action?

In the end, however, the past price action of a security is no guarantee of future price action. High probability trades are still speculative trades, which means traders take on the risks to get access to the potential rewards. Price action does not explicitly incorporate macroeconomic or non-financial matters impacting a security.

What are the different strategies for futures trading?

All strategies have ups and downs, but you should decide which one you want to go with and define it for your futures trading. The most common strategy is directional strategy, which means that a trader speculates on the direction of a specific commodity or other underlying assets.