The indicator every day trader needs

Here’s how it can improve your trades... Good Morning! Are you entering positions in the wrong spot on a chart? You might think you’re dip buying a stock close to a risk level… But really you could be buying a stock that’s destined to continue lower. How can you avoid this crucial mistake that results in frustrating losses? With the one indicator I use in my trading every day… It can show you when to get in a trade, when to get out of a trade, and whether the stock might go higher or lower. This is one of those self-fulfilling prophecies in trading… It’s important because traders think it's important. And because a lot of day traders use it — you should be using it too. Today, I’ll share what it is and how you can use it in your trading… The Number One Indicator to Use Everyday Besides the [Oracle support and resistance]( indicator that’s only available on [StocksToTrade]( The only other indicator I use every day is VWAP. What Is VWAP? VWAP is an acronym for the volume-weighted average price. It’s a [lagging indicator]( that shows you the average price a stock has traded at based on volume and price. VWAP is mostly used by day traders because it’s based on intraday price action. How You Can Use VWAP In Your Trading The standard thesis among traders is if the stock is above VWAP the buyers are in control and the stock is bullish. And if the stock’s trading below VWAP the sellers are in charge and it's bearish. Does that mean every stock above VWAP spikes and every stock below fails? No. But it's a guide day traders use to determine if a stock’s price action is [bullish or bearish](. VWAP = an intraday trend following indicator. [The trend is your friend](. You want to join the trend, not fight it. So when you look at a stock and you're going through your process and deciding whether to take a trade… Look at whether the stock’s trading above VWAP or below. If you buy a stock above VWAP you're joining the trend. If you buy a stock below VWAP, you're going against the trend. [Watch this video to learn more about trading with the VWAP indicator](. I'm a big fan of Michael Covel and his book, Trend Following: Learn to Make Millions in Up or Down Markets. [Get the updated edition here](. (As an Amazon Associate, we earn from qualifying purchases.) The book was instrumental in my [style of trading](. I bought it in 2009 and it was so significant to my education that I remember reading it while we were camping when my kids were young. And I read it in two or three days. In short, don't fight the trend. Follow it. It doesn't mean you'll win every trade. But it increases your chances if you're joining the trend, not fighting it. More Ways to Use VWAP VWAP is an indicator that can help you recognize [when to enter a trade]( and join a trend. But you can also use it as a signal to exit a trade. If you’re in a trade that’s above VWAP and it drops below, that means the momentum has shifted to the sellers. That’s why in some of my trade plans I’ll use the VWAP level as my risk. If you want to learn more about how I use VWAP in my trade plans — [watch this webinar](. Not a SteadyTrade Team member yet? What are you waiting for? [Join me every morning and afternoon in my live SteadyTrade Team webinars here](. Have a great day everyone. See you back here tomorrow. 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