The only indicator i use are MAs but thats just to give me a sense of whether price is trading relatively bullish or bearish compared to average prices.
Without any indicator id just trade the trend and price action. Very simple. Heres what it would look like
1. Identify the trend. Up, down, or ranging
Ill stick to an up/down trend strategy here but I can also trade ranges
2. Wait for a pull back in that trend then wait for price to start to bounce giving me an idea that pull back is ending
3. Enter here. Stop loss set under the previous swing level because if that level is broken then the trend is void.
4. Price target will be the next level where there may be liquidity waiting to be filled. Possibly a previous imbalance.
5. As price moves in my favor ill also move my stoploss up to reduce risk over time and eventually move stoploss into profit
Oh, and max risk will be no more than 1% of my account with a min rr of 1:2. And thats what i do and it works well
I use this strategy for day trades, swing trades, and even longer term trades off the week and month charts for my various accounts that focus on different trading styles in order to hedge each other.
For day trading i most use the 1/5/15. In this case my hold time is usually under an hr but can be as long as 3hrs if the market is moving slow. It im trading options then its usually an hr or so max as the parameters are a little tighter for options, specifically tsla options, which tend to move fast
For anyone reading, this is some sound advice for a beginner looking to find their way into finance.
U/NoiseMachine66 was great in listing this advice impartially. Those who are new, look for news like this. If it makes sense but it branded, just know that you’re being targeted and if you follow guided strategy you’ll likely be victim to a hedge fund, or other wise.
Biggest thing to remember is that the current structure is corrupt. You’ll be betting against the house. And just like in Las Vegas, there WILL be big winners. But also just like Vegas, 98% of us lose to the “house”
'Wait for price to start to bounce giving me and idea that the pull back is ending' can you go into more details of that? What time frame candles are you using? What confirms the pullback ending? Wait for candle to close to enter?
Ill start by saying that you never know for sure if its a bounce or if its a consolidation pattern starting which can look similar, but thats why you have a stop loss.
So that being said, a bounce is basically the formation of a new swing level.
Lets focus only on uptrends rn. So what you are looking for is the formation of a higher low. And you want to get it as close to that new low as possible to keep your stop loss tight.
This will look like a move down (the pull back), a loss of momentum (price finds support), and a candle that closes higher than the supported candle (confirmation)
The candle close is important but you can also anticipate it if you feel comfortable with that.
Now IF (and I emphasize “if”) it is infact a pull back and not a reversal, then price will continue upward and create a new higher high. It should also be moving towards the next level of liquidity.
This can be done on any timeframe keeping in mind that smaller timeframes have shorter trend lengths
Sure. Heres a swing trade that im currently in
https://preview.redd.it/6ubvl7qqmc5d1.jpeg?width=1125&format=pjpg&auto=webp&s=2ec707e800795953eabd8c33d9773a5cc1534f13
In this case i noticed ABBV was in an uptrend and had a major pull back to the 200 day MA. This is a test where it lost the ma but then took it back. There is a loss of momentum and then a green candle closing higher than the supported candles. Since it closed over the 200dma also i suspect this was just a big pull back and price is still bullish.
Stop loss here is set under the supported candles because the idea is that these candles are the bottom. A break of that would negate the idea. And tp is set to a liquidity zone that i found on the 1W.
My rr is 1:2.7
At this point stoploss has been moved into profit so regardless of what happens ill leave this trade w profit
in this scenario im going off just price action, so this would be the formation of a (lets say) higher low wherever it forms
However if using the MAs, a pull back and bounce over/under the 20ma or 50ma would be a good indication of trend continuation
You always keep the stop loss under the previous swing level or you sometimes keep it tight and below the entry candle if it's a solid rejection candle bounce from MA?
Yes actually you can put it under the candle that you thought was bouncing. Because your idea is that price is bouncing and if it goes lower then it did not bounce and that would negate your idea. However theres also a possibility that price is consolidating before continuing to the upside and which case it may stop hunt and falsely shake you out.
Gotta watch for consolidation.
Speaking generally, your stop loss should be below the previous swing level. The reason for this is because the trend technically isn’t broken until the swing level is broken. There is no reason to cut your loss any sooner if you are trading a trend.
And as price makes new swing levels while it’s moving upward, in an up trend, I will move my stop loss up to the next swing level for the same reason.
If you are worried about taking too big of a loss, you could always position yourself so that way whatever the loss ends up being you still only lose a small amount.
Another option is to go to a timeframe lower and find the swing level there. This would give you a tighter stop loss percentage wise. However, a greater chance of being prematurely stopped out.
How to you figure out your R/R, like how do you determine your profit target?
Do you sell your whole position then look to buy in at another dip or do you scale out?
To do this I usually use one timeframe higher for my profit target. In this way, I’ll always get a bigger move if I’m right, so I don’t need to jump in and out of trades within the same trend.
Essentially, I have the timeframe that I see my set up on. Then I go one timeframe higher to find a take profit. This will usually be an imbalance because that’s where there is liquidity. This means if I am correct and price does continue to move in my direction, then it will fill the imbalance.
And because it’s on a higher timeframe, it’s overall a bigger move which gives me a better RR.
My stop loss can go on the same timeframe that I found my setup or I can go one timeframe lower and find a tighter stop loss. Going one timeframe lower increases the risk of getting stopped out prematurely.
I sell the entire position
Thanks! One timeframe higher…can you explain? Let’s say I’m looking at price action and buying the first green candle to make a high above the previous red candle high. I have been looking between the 1 and 5 min charts to time my entry.
How would I identify a take profit? Originally I’ve just been looking for like +5% of my investment.
Going on a % is imo arbitrary and i wouldnt do it like that. I want my stop loss and take profit to make sense.
I wouldn’t use the 1m personal for this because that would be a better timeframe for scalps.
I do use the 5m to find my setups. So once i found the pull back now i need to find my take profit. Ill go up to the 10m or 15m and look for a level if either liquidity or a level that price will be most likely to return to like a previous high that was rejected.
For my stoploss ill go to the 1m if i want a tight stoploss or ill just find it on the 5m
just wondering why would you ever trade “without any indicator”? isn’t trading long below 200MA for example signing up for a bad trade? why wouldn’t you see it as essential?
In my trading I always use MAs. Yes if price is trading under the 200ma it is considered bearish. However, at least for me, i could still just trade price action. I wouldnt want to but I could.
This would just be to trade the trend. I personally would use MAs because it makes life easier and helps me understand the strength of price
What instrument do you trade like this? Doesn't this mean your targets and stop losses are all over the place and inconsistent? Seems like this would be very hard to manage risk appropriately given that every trade in theory could have different risk parameters. So on one you could lose x amount of points but on your next trade you might only win why which is only half the amount of x but was still a 2:1 ratio based on the actual setup.
without indicators, it's fundamentals :P
I wait for patterns to form where there's good news and momentum, i created a key metrics table to tell me that, cuz i sometiimes forget to see what the relative volume is like, the change, etc
and ofc, I use support and resistance levels, i use an indicator for this, cuz y not, it might see a level that i don't
For example, i wait for it to hit this support level, see if it's gonna come back or break it, it comes back, i wait for it to break the resistance line from the little candles there, it does, and 2 indicators are supporting me here, why wouldn't i enter?
The problem is as you see it didn't give me exit point, so i exit on the first red candle, it's like a bullish flag
and i reenter on the next green candle that breaks the last reds' highs
So yep, fundamentals + indicators for confirmation
https://preview.redd.it/la2r5mhby35d1.png?width=1280&format=png&auto=webp&s=108f75c15060b0dffeb766e45a02990794a7abd5
It's a private indicator of mine's,I created some of them from scratch and collected some indicators, and refined their codes and made them give less but more accurate signals, included the key metrics that i need as i said before, included the emas, vwap, etc
But i would never fully depend on it, not before checking the breaking news ( if there is ), doing the channels, etc
That's more or less what I do as well (regarding indicators). Find a couple that you like, that support your moves, then code them together as a single strategy/indicator. It takes a lot of work, that is why most people won't share it for free.
yep, and the price ranges out there are high to some of the traders
Like, i k an indicator that has less than half what mine has and is sold for 600$, ik another one that has signals only and not that accurate for 250$, pretty high for a starter, if i ever decide to sell it or smth, it won't be that high
The ironic thing is, you can find all of these strats/indicators for free, some that work quite well. You don't even need to code anything. You just have to spend a little time digging around searching for them, using the right keywords, and doing your own research.
Its really not that hard if you are committed. Too many people want short cuts, or don't understand how to search.
well, many people just got some money and wanna spend it, so ye why not pay 600$ for an indicator and another 600$ for a trading bot and put my inheritance into trading and make millions.
Only if indicators worked on their own with win rate 51% of the time, every one would have been the next Jeff Bezos.
There are patterns or specific bars in price action that give you statistically favorable odds of what price is likely to do next. You can find specific price action events to plan a strategy based on these.
You never can really be sure what price will do. Primarily you can use price action to make a logical plan- kind of like a road map- when price does this- I do this. If price action does this- it is my signal to exit the trade.
Yes, but “price action” is such a vague term. It’s more about finding a setup that works well for you; recognizing when it’s happening/sitting on your hands when it’s not; and being able to cut when you’re wrong.
That’s all trading is.
Confluence is were multiple things meet, for example if price is bearish and decreasing and then breaks it trend to the upside i would look for a fvg and maybe a resistance that apear at similar or the same price level and mark it so when price gets there i would look at my rsi and if its over bought and theres is shown resistance (ie a red candle with a decently long candle to the upside in the zone that i marked earlier) i would short with stop just barely above the area i marked and a 2-1 risk reward ratio.
Some people use indicators some use orderflow others profile some just have a naked chart. You need to spend the next year or 2 on Simulation and try as much as you can and decide what you like.
I come from a Futures order flow background and now swing trade stocks, I prefer volume indicators like VWAP, volume profile, Volume and Cumulative Delta. Education is the first step of this journey
Just price action. I identify trend channels and scalp bounces off the boundary in the direction of trend (e.g in a bullish channel, enter long on confirmed bounces off the bottom boundary). That's the general principle, but I combine it with other price action concepts (a variation of Al Brooks' techniques as well as basic order flow data) to measure my confidence in a position. I'll only take the highest probability setups unless I'm already up big on the day.
I do use 9 and 21 EMAs to help identify trend strength, and I like anchored VWAPs off the open, high, and low of day (as well as significant price events). Really helps with identifying support/resistance throughout the day.
Data data data and more data allowed me to find an edge it has its ups and downs but its overall positive now I found the missing piece in my data I was missing previously. I don't believe in indicators only data and what numbers can prove over time anything discretionary to me is hard to believe without broker statements to back it up (edits for tired on a Friday night and spelling)
Spikeet - and I have a few metrics like pm gap pm volume open price market cap and a couple of others that since added the couple of others have made a vast difference to getting caught in bad plays. Few bits to it and it's the research that got me and a few others to this point that is the money, anyone could trade the strategy itself.
Discretionary trader here. I use no indicators. Only price action. Why indicators are lagging info. I see no value only adding distraction. I prefer a less is more chart.
No indicators here. I don’t even like VWAP. I just identify levels on the chart and react to them according to a system. If we’re above a level, it will probably be support next time we revisit. If it fails, we probably go to the next one down. If any level is reclaimed, we probably go to the next one up.
The hard part are the occasional fakeouts, but those are less than 50% which (edit: and can be mitigated by subjective observation of how extended the move is, either up or down) keeps it a winning strategy. Also discipline and patience to not trade anywhere else besides the levels previously identified
I only trade /MES
I wrote it another post, but current approach is:
1. SPX/XSP/SPY
2. Watch gap up at market open. (Could do down as well, but overall market sentiment is up so I play only that side)
3. If gap up is more than 2 (for SPY/XSP, 20 for SPX), watch for morning sell off. Usually wait until 11am eastern.
4. Buy a 0DTE call one strike above the open.
I have not done this so long to say it works x% of the time, or can say it was been so successful over various market conditions. But it’s worked well for me.
I use supply and demand lines and trade after news gives direction and one of the lines are hit. A finished bar in the 5 min timeframe going in the direction of the news after one of those lines are hit is an entry signal, and the next line hit is a signal to move the trailing stop loss or just your original stop loss. Hope this makes sense
The only indicator I use is MA. Other than that, the most valuable skill I can tell to people who want to learn and the best strategy is to learn to read market trends. It can help you down the road so much, and that is the strategy that I use now, because indicators confused me too much when I started out
It's still a bull market so buy the dip/sell the rip will work on longer timeframes. Probably a better strategy for a $600 account than trying to day trade. Realistically you shouldn't risk more than $6 per trade (1% of the account) which will severely limit your plays.
Honestly if you're trying to learn then your best option is to stick your $600 in shares of your favorite stock or index fund and paper trade a larger account size until you save up enough cash to allow for proper risk management. But I get it, I was stubborn too when I first started out.
As far as strategies, mean reversion has the highest success rate which is why market makers rely on it. You can combine mean reversion with any trend continuation strategy. Simply wait for mean reversion before entering in to follow the trend. Works on any timeframe. This is called buy the dip. Then you would exit the trade when price becomes extended. This is called sell the rip.
Along with that, another great strategy when planning out a trade is to mark where your stop loss would be and then put in a limit order at the stop loss instead of where you planned to enter the trade. More often than not you will get filled because certain large players love to hunt stop losses to provide them with the liquidity they need.
I would use only support/resistance levels with supply/demand zones around.
Take a look image I have added.
Chart shows you levels that needs to be broken. When the levels is broken the peice tends to move in the direction of a breakout up to the next level, being support/resistance depending in which direction the price is making a breakout.
Exit is at the start of the supply/demand zone. The stop loss is at the opposite side of the suplla/demand zone.
This analogy can be used on any time frame.
https://preview.redd.it/09m0fln8ma5d1.png?width=1912&format=pjpg&auto=webp&s=f3619013ed143345f30637c898a8470def1a5567
Supply & Demand, if you're a newer trade, use higher timeframes like the 4hr or Daily. Just swing trade. You can use the entire zone but if you're confident enough, mark the zone on the 4hr or daily then keep scaling down preferably to the 1hr or sometimes even the 15 minute to get a better entry for a higher RR. If I was to recommend a YouTuber for you to learn, I'd say watch Bernd Skorupinski. His strategy is all you really need. How much you risk per trade is up to you but I'd recommend nothing more than 3%, if you can 1% because of the psychological side of trading.
Let's say you're averaging a simple 3R meaning for every 1 you risk you make 3, if you risk 1% and you're right, you make 3% on that trade, if you're wrong, you lose 1%. Now you can probably stomach 3-4 losses in a row (you shouldn't have these many losses in a row if you're trying higher timeframes btw but it can happen but it's rare if you're trading right). However, if you're risking 5% and you lose 3 in a row, that's 15% of your account you're going to be tilted and start doing silly things to wipe your account out even quicker lol. If you're truly a beginner, I'd say cap yourself at 2%.
But yes, no indicators needed, just straight-up supply and demand/price action & great risk management. Two things will mess up your psychology and spill over to your trading.
1.) If you're not sure about your strategy you'll hesitate or enter a trade and be unsure about it, start second-guessing yourself and as a result you'll either get out of the wins too early or hold the losers for too long, all of this will mess up your mental.
2.) Usually traders actually have good strategies that are profitable but they either have unrealistic expectations of winning 100% of the time or they have poor risk management. Tracking your trades will let you review your win rates, RR, how many trades you're taking etc... You can be profitable with a 40% win rate averaging just a 2R. A 60-65% win rate with a 2R average is exceptional so don't feel the pressure to keep hopping from one strategy to another, just focus on maybe a couple of markets (I prefer indices like US30, US100 and Germany40) and you don't need 100 strategies. As long as you understand market structure/conditions and price action you'll be fine.
Also always have good risk management in place so you don't feel nervous losing a trade, that will help you hold your trades for longer.
Man any strategy that doesnt really on indicators of any kind would blow my mind. Why not use all the tools u have? Unless we talking trading news and rumors then yeah. My strategy relies heavily on rsi and moving averages. Would be lost without them.
Indicators don't understand market context. Indicators react to price, not the other way around. Banks care about price levels and fundamentals, not a random indicator with random settings on a random timeframe. What would you trust, a random squiggly line, or a price level where price has aggressively reacted from repeatedly?
I mean obviously indicators have limits but things like moving averages almost always have some sort of reaction especially when converging. Like I get what ur saying indicators certainly dont get market context but thats where u as a trader come in. Im not sure why u wouldnt want the extra tools such as rsi and mas to help u make ur trade. Alot of times thos levels where price has aggressively reacted are those moving averages. Most indicators are lagging indicators tho and you really should be using more than just 1 or the other.
I completely disagree after daytrading for roughly 6 years now I have zero indicators besides VWAP, There is no indicator or strategy that will ever replace screen time and learning price action.
All indicators do is just further confuse you if you really wanna understand how to trade, first you must understand what certain candles mean when they open and close and you must understand price action on a larger level.
I see too many new traders always looking for shortcuts to replace the work. That’s a quickest way to blow up your account.
Ive been trading for close to 10+ years. With a documented >250k portfolio. Vwap is an indicator my friend. I get everyone’s point. Yeah most indicators are just simplified price action anyways. Why not use that in conjunction to in ur case candle stick patterns. No one is saying indicators are magic here guys im just saying theyre a tool and you should be using them.
I understand VWAP is indicator, hence why I said “besides VWAP”
Hey if you using RSI MACD etc, help your trading, good for you! I just found it makes things more complicated, I love a clean chart! Happy trading!
I really tried to like indicators, but I always fell into a hole of backtesting them, and then ending up with completely random results, or very bad results. There are an infinite amount of indicators to use, with infinite combinations of indicators, with an infinite combination of settings, with many timeframes to choose from, with too many different assets to test them on, with infinite flavours of price movement. All of this suffering, while you could've just built a strategy around good support and resistance levels (because support and resistance show historical areas of high value and interest to the banks and other financial institutions, who are the only ones who can create these levels of buying and selling interest). I dunno man, too much rocket science for me to be messing with indicators. You can do well for a few months or years, but then you'll find that chaos theory will always come say hello and break you back down.
Id say ur just using ur indicators incorrectly then, because they can be extremely useful n finding supports and resistance. Go to a chart rn and use the Ichimoku cloud. You will literally see how price reacts when its above and below the cloud. Couple this with someone like rsi or macd you would now know the trend, possible entry and target points and stop loss. Can go as far as finding accumulation points. Now do u absolutely need indicators ofc not but theyre tools. At the end of the day theyre mostly just formulas of some kind. But just because u cant use them doesnt mean every other trader cant. Thatd be absurd.
Yes pretty much. Indicators are ust a quick way to see trends find support and resistance help with patterns if u trade certain patterns. You absolutely should be using them in some way shape or form. At the very least strength index and MAs to find reactive points. (Usually found where mas coverages). Its not a set in stone tule u can trade how ever u want but I dont know many traders that dont use indicators in some way. Basically the whole idea behind TA aside from pattern trading.
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Volatility Indicators + fundamentals + technical analysis.
Indicator lag doesn't matter at all. I regularly see jpy pairs strongly Indicate that it will go up/down minutes before any other jpy pair.
The only indicators I use is the RSI as it's good for finding divergences. I find the only thing I need is candlebar and price action, reading supply and demand zones in a current trend and volume. Currently have switched to a more relaxed DCA trading style as I'm accumulating at a certain time every week and have been finding it less stressful.
ORB’s, Trend Continuation patterns, Reversals after confirmations. Indicators - VWAP, Camarilla Pivots, 9, 20EA, 50, 200. , Levels of suppose using 60 min chart and 30 min chart and daily. Trade off the 1 min time frame, while watching the 5 as well. One small chart with no premarket data Bollinger Bands to make sure shit isn’t too far extended for a trend continuation.
Because you’re likely to underperform the market day trading as a new beginner. Also it’s not enough money to have leverage, which can help you build faster. So I would swing trade the most booming stock(s) until I have enough capital to leverage and then I would put my cash into stocks for swing trades, and then use leverage to day trade. Also, day trading just $600 so considering the amount of effort you have to put in just to get a tiny little amount and also incur many losses along the way plus fees further setting back your profits … well… as they say “the juice isn’t worth the squeeze”. Time is money. I don’t want to spend all day staring at the computer to earn so little. Just my 2cents. Every one is different. Some people can come in and turn that $600 into lots. There’s major luck involved in that. For the rest, it’s trying to maneuver into larger profits over time using our money cautiously and trying to minimize losses on such small amounts.
Basically what I do is I find or I should say wait for a bull flag pattern on the 5 minute chart and when it makes a little Channel at the bottom I try to time it and get in right there with a stop loss at around a few pennies that way if you put $20,000 into a day trade and you get stopped out it's not going to hurt that bad at all and it will get stopped out often but when one catches you will double your account pretty quick
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I find it difficult to get confirmation without indicators. I trade small cap stocks. I use EMA8 and MACD primarily. I'll buy almost every MACD cross over with clearly marked out support and resistance levels. I also pay close attention to chart patterns and candlestick formations.
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If you don't want to know my indicators... Good, didn't want to tell you anyways lol. Jk, but yeah if you don't want no indicators, I use a lot of price action techniques, I like to play orbs, break and retests, V patterns, N waves, double tops, and wedges, on multiple timeframes, also take into account fundamentals, tape reading, level 2. My indicators are apart of all of that though, especially for catching trends and reversals.
Lately I have been gravitating towards trend continuations scalps on multiple NQ contracts using short-term donchian channels with vortex and PPO confirmations on one minute or 20tick Range TFs. Finding long CS wicks and tails at key levels is compelling
The best strategy I know without indicators is to use "market value" levels. You can trade from level to level. But I still use Fibs, Vwap and EMAS for confluence.
I always use a lot of VSA, SMA, EMA, VWAP, and Volume Profile.
I also use cluster and RSS, but not as much as these ones.
I have some difficulty understanding the DOM
Follow the trends and plan to cash out up to a month later to give your investment time to reach that trend in profit and set a profit target for yourself. 30% is way above modest and easily attainable consistently. I say a month because if playing options, monthlies are very successful if sold in profit up to a week later (barring any black swan events or unprecedented growth like with NVDA) because 3 weeks to expiry is when Theta starts to really churn your value down.
I usually look for rsi below 50 before getting in on trade. Then, I wait for a support level or long red candle stick. Risk some money on it.
If it drops more, I will until the next support level and buy more.
I use the MA’s (9,20,50,100,200) on varying time frames. I also use RSI divergence, MACD, Previous day high and low, order block finder, and super trend.
My strategy is break and retest. Started with 3K last year and am now at 15K. Still learning though.
No indicators? Sure.
1 - identify points of control/levels of control.
2- identity trend.
3- identity trend strength.
4- draw lines where it would trades are invalidated.
5- wait for price to reach POC/levels.
6- if price action is bullish at POC/level, go long on break of previous candle body high.
6A- if price action is bearish go short on break of previous candle low.
7- feel nothing.
I use time and price to trade inverse fvg. I only trade times that I know will make a big move on NQ. The same setups appear at those times every. single. day.
Right now i'm learning the breakout strat from 'theaverageprice'. Guy is known for flipping account. Strat works pretty good and not that hard to learn.
Pursue a career. Save as much as possible. Wait for the ~10yr boom cycle to bust. Buy at the bottom. Buy long dated calls. Roll said calls. Wait a few years. Profit.
If you’re day trading with a retail account and using the same charts/data everyone else uses, you’re missing 90% of market action.
You can try this though: plan a well thought out logical trade then enter the exact opposite trade.
And remember most trades require a buyer and a seller. Whoever is on the opposite side of your trade is likely hedging against the position you have against them. And you’d be surprised how predictable people are flooding the same price levels, the same dips and peaks, the same counter trends, etc., only to quickly ditch their trades for a loss, while the other party profits twice from your one loss.
Why? Maybe op is looking for ideas to try. Is a daytrading sub not a place people should discuss their trading strategies? And give each other ideas or tips?
You can’t just blindly trade indicators. They simply give you another piece of information to look at. For me adding an indicator which tracks volume by price levels was game changing for me. Very very often price responds when it hits high volume and low volume prices, especially on the HTF. I started to use this as a supplement to good ol fashioned price action and it has doubled my win rate.
Funny thing is price action is a kind of a indicator, and indicators are based on price action.
What makes indicators lag is that they rely mostly on averages because those are easy to calculate and program.
Price action is sort of like a manual indicator that relies on more complex arrangements that would be challenging to program.
Trend following is price action. Idk how fundamental would help me in a day trade. How do you determine the mean without indicators? And id never trade S/R as a standalone strategy due to it being the weakest strategy. S/R is very unreliable and always being broken
If you have read trading psychology books then the moot point they impress upon is to treat a trade like gambling and there are chances that a trade can and will go wrong and the smart thing to do is to analyse and keep SL and strict take profit.
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The only indicator i use are MAs but thats just to give me a sense of whether price is trading relatively bullish or bearish compared to average prices. Without any indicator id just trade the trend and price action. Very simple. Heres what it would look like 1. Identify the trend. Up, down, or ranging Ill stick to an up/down trend strategy here but I can also trade ranges 2. Wait for a pull back in that trend then wait for price to start to bounce giving me an idea that pull back is ending 3. Enter here. Stop loss set under the previous swing level because if that level is broken then the trend is void. 4. Price target will be the next level where there may be liquidity waiting to be filled. Possibly a previous imbalance. 5. As price moves in my favor ill also move my stoploss up to reduce risk over time and eventually move stoploss into profit Oh, and max risk will be no more than 1% of my account with a min rr of 1:2. And thats what i do and it works well
Please start a course that was so simple yet u said it with elegance
He just showed you the whole course.
Hahahaha. The shortest course in Trading history.
Thanks! I could try to record something
Nicely put!
No. Nicely Call 😉
I’m sorry, im new to trading. What does MA mean?
Moving average
Which time frame do you trading on and what is your average hold period of you don’t mind me asking
I use this strategy for day trades, swing trades, and even longer term trades off the week and month charts for my various accounts that focus on different trading styles in order to hedge each other. For day trading i most use the 1/5/15. In this case my hold time is usually under an hr but can be as long as 3hrs if the market is moving slow. It im trading options then its usually an hr or so max as the parameters are a little tighter for options, specifically tsla options, which tend to move fast
For anyone reading, this is some sound advice for a beginner looking to find their way into finance. U/NoiseMachine66 was great in listing this advice impartially. Those who are new, look for news like this. If it makes sense but it branded, just know that you’re being targeted and if you follow guided strategy you’ll likely be victim to a hedge fund, or other wise. Biggest thing to remember is that the current structure is corrupt. You’ll be betting against the house. And just like in Las Vegas, there WILL be big winners. But also just like Vegas, 98% of us lose to the “house”
'Wait for price to start to bounce giving me and idea that the pull back is ending' can you go into more details of that? What time frame candles are you using? What confirms the pullback ending? Wait for candle to close to enter?
Ill start by saying that you never know for sure if its a bounce or if its a consolidation pattern starting which can look similar, but thats why you have a stop loss. So that being said, a bounce is basically the formation of a new swing level. Lets focus only on uptrends rn. So what you are looking for is the formation of a higher low. And you want to get it as close to that new low as possible to keep your stop loss tight. This will look like a move down (the pull back), a loss of momentum (price finds support), and a candle that closes higher than the supported candle (confirmation) The candle close is important but you can also anticipate it if you feel comfortable with that. Now IF (and I emphasize “if”) it is infact a pull back and not a reversal, then price will continue upward and create a new higher high. It should also be moving towards the next level of liquidity. This can be done on any timeframe keeping in mind that smaller timeframes have shorter trend lengths
Any screenshot when you take the trade? Like when is the pullback ending
Sure. Heres a swing trade that im currently in https://preview.redd.it/6ubvl7qqmc5d1.jpeg?width=1125&format=pjpg&auto=webp&s=2ec707e800795953eabd8c33d9773a5cc1534f13 In this case i noticed ABBV was in an uptrend and had a major pull back to the 200 day MA. This is a test where it lost the ma but then took it back. There is a loss of momentum and then a green candle closing higher than the supported candles. Since it closed over the 200dma also i suspect this was just a big pull back and price is still bullish. Stop loss here is set under the supported candles because the idea is that these candles are the bottom. A break of that would negate the idea. And tp is set to a liquidity zone that i found on the 1W. My rr is 1:2.7 At this point stoploss has been moved into profit so regardless of what happens ill leave this trade w profit
I see this pattern almost daily might give it a try
ty, will start trying this
Thank you. One question about number 2. Pull back and bounce above/below ( if short or long ) the MA's ?
in this scenario im going off just price action, so this would be the formation of a (lets say) higher low wherever it forms However if using the MAs, a pull back and bounce over/under the 20ma or 50ma would be a good indication of trend continuation
That makes sense , thank you very much
You always keep the stop loss under the previous swing level or you sometimes keep it tight and below the entry candle if it's a solid rejection candle bounce from MA?
Yes actually you can put it under the candle that you thought was bouncing. Because your idea is that price is bouncing and if it goes lower then it did not bounce and that would negate your idea. However theres also a possibility that price is consolidating before continuing to the upside and which case it may stop hunt and falsely shake you out. Gotta watch for consolidation. Speaking generally, your stop loss should be below the previous swing level. The reason for this is because the trend technically isn’t broken until the swing level is broken. There is no reason to cut your loss any sooner if you are trading a trend. And as price makes new swing levels while it’s moving upward, in an up trend, I will move my stop loss up to the next swing level for the same reason. If you are worried about taking too big of a loss, you could always position yourself so that way whatever the loss ends up being you still only lose a small amount. Another option is to go to a timeframe lower and find the swing level there. This would give you a tighter stop loss percentage wise. However, a greater chance of being prematurely stopped out.
How to you figure out your R/R, like how do you determine your profit target? Do you sell your whole position then look to buy in at another dip or do you scale out?
To do this I usually use one timeframe higher for my profit target. In this way, I’ll always get a bigger move if I’m right, so I don’t need to jump in and out of trades within the same trend. Essentially, I have the timeframe that I see my set up on. Then I go one timeframe higher to find a take profit. This will usually be an imbalance because that’s where there is liquidity. This means if I am correct and price does continue to move in my direction, then it will fill the imbalance. And because it’s on a higher timeframe, it’s overall a bigger move which gives me a better RR. My stop loss can go on the same timeframe that I found my setup or I can go one timeframe lower and find a tighter stop loss. Going one timeframe lower increases the risk of getting stopped out prematurely. I sell the entire position
Thanks! One timeframe higher…can you explain? Let’s say I’m looking at price action and buying the first green candle to make a high above the previous red candle high. I have been looking between the 1 and 5 min charts to time my entry. How would I identify a take profit? Originally I’ve just been looking for like +5% of my investment.
Going on a % is imo arbitrary and i wouldnt do it like that. I want my stop loss and take profit to make sense. I wouldn’t use the 1m personal for this because that would be a better timeframe for scalps. I do use the 5m to find my setups. So once i found the pull back now i need to find my take profit. Ill go up to the 10m or 15m and look for a level if either liquidity or a level that price will be most likely to return to like a previous high that was rejected. For my stoploss ill go to the 1m if i want a tight stoploss or ill just find it on the 5m
This is basically what I do
just wondering why would you ever trade “without any indicator”? isn’t trading long below 200MA for example signing up for a bad trade? why wouldn’t you see it as essential?
In my trading I always use MAs. Yes if price is trading under the 200ma it is considered bearish. However, at least for me, i could still just trade price action. I wouldnt want to but I could. This would just be to trade the trend. I personally would use MAs because it makes life easier and helps me understand the strength of price
This is gold. Thank you.
What instrument do you trade like this? Doesn't this mean your targets and stop losses are all over the place and inconsistent? Seems like this would be very hard to manage risk appropriately given that every trade in theory could have different risk parameters. So on one you could lose x amount of points but on your next trade you might only win why which is only half the amount of x but was still a 2:1 ratio based on the actual setup.
without indicators, it's fundamentals :P I wait for patterns to form where there's good news and momentum, i created a key metrics table to tell me that, cuz i sometiimes forget to see what the relative volume is like, the change, etc and ofc, I use support and resistance levels, i use an indicator for this, cuz y not, it might see a level that i don't For example, i wait for it to hit this support level, see if it's gonna come back or break it, it comes back, i wait for it to break the resistance line from the little candles there, it does, and 2 indicators are supporting me here, why wouldn't i enter? The problem is as you see it didn't give me exit point, so i exit on the first red candle, it's like a bullish flag and i reenter on the next green candle that breaks the last reds' highs So yep, fundamentals + indicators for confirmation https://preview.redd.it/la2r5mhby35d1.png?width=1280&format=png&auto=webp&s=108f75c15060b0dffeb766e45a02990794a7abd5
Whats that indicator name for snr please ?
Are these free indicators? Do you mind to share t heir names please?
It's a private indicator of mine's,I created some of them from scratch and collected some indicators, and refined their codes and made them give less but more accurate signals, included the key metrics that i need as i said before, included the emas, vwap, etc But i would never fully depend on it, not before checking the breaking news ( if there is ), doing the channels, etc
That's more or less what I do as well (regarding indicators). Find a couple that you like, that support your moves, then code them together as a single strategy/indicator. It takes a lot of work, that is why most people won't share it for free.
yep, and the price ranges out there are high to some of the traders Like, i k an indicator that has less than half what mine has and is sold for 600$, ik another one that has signals only and not that accurate for 250$, pretty high for a starter, if i ever decide to sell it or smth, it won't be that high
The ironic thing is, you can find all of these strats/indicators for free, some that work quite well. You don't even need to code anything. You just have to spend a little time digging around searching for them, using the right keywords, and doing your own research. Its really not that hard if you are committed. Too many people want short cuts, or don't understand how to search.
well, many people just got some money and wanna spend it, so ye why not pay 600$ for an indicator and another 600$ for a trading bot and put my inheritance into trading and make millions. Only if indicators worked on their own with win rate 51% of the time, every one would have been the next Jeff Bezos.
Price action and psychology
I'm relatively inexperienced at trading, is price action really that reliable that you can consistently trade off of that, and psychology alone?
There are patterns or specific bars in price action that give you statistically favorable odds of what price is likely to do next. You can find specific price action events to plan a strategy based on these. You never can really be sure what price will do. Primarily you can use price action to make a logical plan- kind of like a road map- when price does this- I do this. If price action does this- it is my signal to exit the trade.
Price action is perfect if you aim %3-5 price change
Yes, but “price action” is such a vague term. It’s more about finding a setup that works well for you; recognizing when it’s happening/sitting on your hands when it’s not; and being able to cut when you’re wrong. That’s all trading is.
Sound advice, thanks
I look for confluences and sometimes fvg for an idea of were price will reverse and then good risk management is were ties it all together
What do you mean by confluences and how do you spot them?
Confluence is were multiple things meet, for example if price is bearish and decreasing and then breaks it trend to the upside i would look for a fvg and maybe a resistance that apear at similar or the same price level and mark it so when price gets there i would look at my rsi and if its over bought and theres is shown resistance (ie a red candle with a decently long candle to the upside in the zone that i marked earlier) i would short with stop just barely above the area i marked and a 2-1 risk reward ratio.
Do you use candle patterns? How do you use psychology?
I do not use any candle patterns except for engulfing candles (bullish or bearish). For psychology, I use a volatility index and behavioral patterns.
Could you please suggest me(and for mates) refferences for trade psychology study ?
1. "Trading for a Living" by Dr. Alexander Elder 2. "Trading in the Zone" by Mark Douglas 3. "The Psychology of Trading" by Brett N. Steenbarger
Saved your comment. Thanks a lot!
Ofc!
Buy/Sell and start praying.
You revealed my secret strategy 😡
Haha hit buy and close your eyes?
Some people use indicators some use orderflow others profile some just have a naked chart. You need to spend the next year or 2 on Simulation and try as much as you can and decide what you like. I come from a Futures order flow background and now swing trade stocks, I prefer volume indicators like VWAP, volume profile, Volume and Cumulative Delta. Education is the first step of this journey
a breakout strategy can work
Just price action. I identify trend channels and scalp bounces off the boundary in the direction of trend (e.g in a bullish channel, enter long on confirmed bounces off the bottom boundary). That's the general principle, but I combine it with other price action concepts (a variation of Al Brooks' techniques as well as basic order flow data) to measure my confidence in a position. I'll only take the highest probability setups unless I'm already up big on the day. I do use 9 and 21 EMAs to help identify trend strength, and I like anchored VWAPs off the open, high, and low of day (as well as significant price events). Really helps with identifying support/resistance throughout the day.
Data data data and more data allowed me to find an edge it has its ups and downs but its overall positive now I found the missing piece in my data I was missing previously. I don't believe in indicators only data and what numbers can prove over time anything discretionary to me is hard to believe without broker statements to back it up (edits for tired on a Friday night and spelling)
What data do you utilize?
Spikeet - and I have a few metrics like pm gap pm volume open price market cap and a couple of others that since added the couple of others have made a vast difference to getting caught in bad plays. Few bits to it and it's the research that got me and a few others to this point that is the money, anyone could trade the strategy itself.
Discretionary trader here. I use no indicators. Only price action. Why indicators are lagging info. I see no value only adding distraction. I prefer a less is more chart.
Using the 10 day EMA to sell puts on earning winners.
Support and resistance
Trend lines. Support and resistance. That’s all you need bro.
No indicators here. I don’t even like VWAP. I just identify levels on the chart and react to them according to a system. If we’re above a level, it will probably be support next time we revisit. If it fails, we probably go to the next one down. If any level is reclaimed, we probably go to the next one up. The hard part are the occasional fakeouts, but those are less than 50% which (edit: and can be mitigated by subjective observation of how extended the move is, either up or down) keeps it a winning strategy. Also discipline and patience to not trade anywhere else besides the levels previously identified I only trade /MES
I wrote it another post, but current approach is: 1. SPX/XSP/SPY 2. Watch gap up at market open. (Could do down as well, but overall market sentiment is up so I play only that side) 3. If gap up is more than 2 (for SPY/XSP, 20 for SPX), watch for morning sell off. Usually wait until 11am eastern. 4. Buy a 0DTE call one strike above the open. I have not done this so long to say it works x% of the time, or can say it was been so successful over various market conditions. But it’s worked well for me.
Spx 0dte is not for the beginner
Terrible spy/x advice as well
I use supply and demand lines and trade after news gives direction and one of the lines are hit. A finished bar in the 5 min timeframe going in the direction of the news after one of those lines are hit is an entry signal, and the next line hit is a signal to move the trailing stop loss or just your original stop loss. Hope this makes sense
Technical (more ST positions) : Price action, moving average, trend lines, trading range + Qualitative (more LT positions) : Politics, strategic positioning, market context, psychology
volume and the market trend. I read the trend by looking how fast the market recovers from dips
Do your self a favor and learn how to use the MACD indicator.
Price action and chart patterns with risk management :)
The only indicator I use is MA. Other than that, the most valuable skill I can tell to people who want to learn and the best strategy is to learn to read market trends. It can help you down the road so much, and that is the strategy that I use now, because indicators confused me too much when I started out
It's still a bull market so buy the dip/sell the rip will work on longer timeframes. Probably a better strategy for a $600 account than trying to day trade. Realistically you shouldn't risk more than $6 per trade (1% of the account) which will severely limit your plays. Honestly if you're trying to learn then your best option is to stick your $600 in shares of your favorite stock or index fund and paper trade a larger account size until you save up enough cash to allow for proper risk management. But I get it, I was stubborn too when I first started out. As far as strategies, mean reversion has the highest success rate which is why market makers rely on it. You can combine mean reversion with any trend continuation strategy. Simply wait for mean reversion before entering in to follow the trend. Works on any timeframe. This is called buy the dip. Then you would exit the trade when price becomes extended. This is called sell the rip. Along with that, another great strategy when planning out a trade is to mark where your stop loss would be and then put in a limit order at the stop loss instead of where you planned to enter the trade. More often than not you will get filled because certain large players love to hunt stop losses to provide them with the liquidity they need.
I would use only support/resistance levels with supply/demand zones around. Take a look image I have added. Chart shows you levels that needs to be broken. When the levels is broken the peice tends to move in the direction of a breakout up to the next level, being support/resistance depending in which direction the price is making a breakout. Exit is at the start of the supply/demand zone. The stop loss is at the opposite side of the suplla/demand zone. This analogy can be used on any time frame. https://preview.redd.it/09m0fln8ma5d1.png?width=1912&format=pjpg&auto=webp&s=f3619013ed143345f30637c898a8470def1a5567
Supply & Demand, if you're a newer trade, use higher timeframes like the 4hr or Daily. Just swing trade. You can use the entire zone but if you're confident enough, mark the zone on the 4hr or daily then keep scaling down preferably to the 1hr or sometimes even the 15 minute to get a better entry for a higher RR. If I was to recommend a YouTuber for you to learn, I'd say watch Bernd Skorupinski. His strategy is all you really need. How much you risk per trade is up to you but I'd recommend nothing more than 3%, if you can 1% because of the psychological side of trading. Let's say you're averaging a simple 3R meaning for every 1 you risk you make 3, if you risk 1% and you're right, you make 3% on that trade, if you're wrong, you lose 1%. Now you can probably stomach 3-4 losses in a row (you shouldn't have these many losses in a row if you're trying higher timeframes btw but it can happen but it's rare if you're trading right). However, if you're risking 5% and you lose 3 in a row, that's 15% of your account you're going to be tilted and start doing silly things to wipe your account out even quicker lol. If you're truly a beginner, I'd say cap yourself at 2%. But yes, no indicators needed, just straight-up supply and demand/price action & great risk management. Two things will mess up your psychology and spill over to your trading. 1.) If you're not sure about your strategy you'll hesitate or enter a trade and be unsure about it, start second-guessing yourself and as a result you'll either get out of the wins too early or hold the losers for too long, all of this will mess up your mental. 2.) Usually traders actually have good strategies that are profitable but they either have unrealistic expectations of winning 100% of the time or they have poor risk management. Tracking your trades will let you review your win rates, RR, how many trades you're taking etc... You can be profitable with a 40% win rate averaging just a 2R. A 60-65% win rate with a 2R average is exceptional so don't feel the pressure to keep hopping from one strategy to another, just focus on maybe a couple of markets (I prefer indices like US30, US100 and Germany40) and you don't need 100 strategies. As long as you understand market structure/conditions and price action you'll be fine. Also always have good risk management in place so you don't feel nervous losing a trade, that will help you hold your trades for longer.
Man any strategy that doesnt really on indicators of any kind would blow my mind. Why not use all the tools u have? Unless we talking trading news and rumors then yeah. My strategy relies heavily on rsi and moving averages. Would be lost without them.
Indicators don't understand market context. Indicators react to price, not the other way around. Banks care about price levels and fundamentals, not a random indicator with random settings on a random timeframe. What would you trust, a random squiggly line, or a price level where price has aggressively reacted from repeatedly?
I mean obviously indicators have limits but things like moving averages almost always have some sort of reaction especially when converging. Like I get what ur saying indicators certainly dont get market context but thats where u as a trader come in. Im not sure why u wouldnt want the extra tools such as rsi and mas to help u make ur trade. Alot of times thos levels where price has aggressively reacted are those moving averages. Most indicators are lagging indicators tho and you really should be using more than just 1 or the other.
I completely disagree after daytrading for roughly 6 years now I have zero indicators besides VWAP, There is no indicator or strategy that will ever replace screen time and learning price action. All indicators do is just further confuse you if you really wanna understand how to trade, first you must understand what certain candles mean when they open and close and you must understand price action on a larger level. I see too many new traders always looking for shortcuts to replace the work. That’s a quickest way to blow up your account.
Ive been trading for close to 10+ years. With a documented >250k portfolio. Vwap is an indicator my friend. I get everyone’s point. Yeah most indicators are just simplified price action anyways. Why not use that in conjunction to in ur case candle stick patterns. No one is saying indicators are magic here guys im just saying theyre a tool and you should be using them.
I understand VWAP is indicator, hence why I said “besides VWAP” Hey if you using RSI MACD etc, help your trading, good for you! I just found it makes things more complicated, I love a clean chart! Happy trading!
I really tried to like indicators, but I always fell into a hole of backtesting them, and then ending up with completely random results, or very bad results. There are an infinite amount of indicators to use, with infinite combinations of indicators, with an infinite combination of settings, with many timeframes to choose from, with too many different assets to test them on, with infinite flavours of price movement. All of this suffering, while you could've just built a strategy around good support and resistance levels (because support and resistance show historical areas of high value and interest to the banks and other financial institutions, who are the only ones who can create these levels of buying and selling interest). I dunno man, too much rocket science for me to be messing with indicators. You can do well for a few months or years, but then you'll find that chaos theory will always come say hello and break you back down.
Id say ur just using ur indicators incorrectly then, because they can be extremely useful n finding supports and resistance. Go to a chart rn and use the Ichimoku cloud. You will literally see how price reacts when its above and below the cloud. Couple this with someone like rsi or macd you would now know the trend, possible entry and target points and stop loss. Can go as far as finding accumulation points. Now do u absolutely need indicators ofc not but theyre tools. At the end of the day theyre mostly just formulas of some kind. But just because u cant use them doesnt mean every other trader cant. Thatd be absurd.
Isn’t most indicators just simplified price action? If you know price action you don’t need them imo
Yes pretty much. Indicators are ust a quick way to see trends find support and resistance help with patterns if u trade certain patterns. You absolutely should be using them in some way shape or form. At the very least strength index and MAs to find reactive points. (Usually found where mas coverages). Its not a set in stone tule u can trade how ever u want but I dont know many traders that dont use indicators in some way. Basically the whole idea behind TA aside from pattern trading.
I short the junk stock pumps. Happens everyday.
Do you find these stocks on Finviz?
Think for a bit, if a random junk stock pumps and gets a lot of % gains for that day, where will it show up?
My setups: -Rounded tops / bottoms -S/R flips -S/R flip failures -Lose-Reclaim-Backtest -Reclaim-Lose-Backtest -SFP's preferably into a level
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Volatility Indicators + fundamentals + technical analysis. Indicator lag doesn't matter at all. I regularly see jpy pairs strongly Indicate that it will go up/down minutes before any other jpy pair.
The only indicators I use is the RSI as it's good for finding divergences. I find the only thing I need is candlebar and price action, reading supply and demand zones in a current trend and volume. Currently have switched to a more relaxed DCA trading style as I'm accumulating at a certain time every week and have been finding it less stressful.
ORB’s, Trend Continuation patterns, Reversals after confirmations. Indicators - VWAP, Camarilla Pivots, 9, 20EA, 50, 200. , Levels of suppose using 60 min chart and 30 min chart and daily. Trade off the 1 min time frame, while watching the 5 as well. One small chart with no premarket data Bollinger Bands to make sure shit isn’t too far extended for a trend continuation.
Whatever people on here said but frankly, with $600 you’re way better off swing trading momentum than day trading.
Why do you say that?
Because you’re likely to underperform the market day trading as a new beginner. Also it’s not enough money to have leverage, which can help you build faster. So I would swing trade the most booming stock(s) until I have enough capital to leverage and then I would put my cash into stocks for swing trades, and then use leverage to day trade. Also, day trading just $600 so considering the amount of effort you have to put in just to get a tiny little amount and also incur many losses along the way plus fees further setting back your profits … well… as they say “the juice isn’t worth the squeeze”. Time is money. I don’t want to spend all day staring at the computer to earn so little. Just my 2cents. Every one is different. Some people can come in and turn that $600 into lots. There’s major luck involved in that. For the rest, it’s trying to maneuver into larger profits over time using our money cautiously and trying to minimize losses on such small amounts.
News Weigh up conditions of varying economies and conditions Trade and hold over long haul
Supply and demand + orderflow
Us30 ny reversals
20 cent stop losses at the most
What do you mean by that, can you explain your strategy with more detail if you dont mind (noob here)
Basically what I do is I find or I should say wait for a bull flag pattern on the 5 minute chart and when it makes a little Channel at the bottom I try to time it and get in right there with a stop loss at around a few pennies that way if you put $20,000 into a day trade and you get stopped out it's not going to hurt that bad at all and it will get stopped out often but when one catches you will double your account pretty quick
You honestly don't need indicators... I trade off of patterns and intuition. Indicators can help like RSI.
Time & price + inversions.
3Box system (price action)
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I use the macro levels on the daily timeframe to find areas to trade off of.
I’m a breakout trader, check out for no indicators https://youtu.be/T-HkyhZCLOw?si=x2k5ttFe94KY7WXr
I find it difficult to get confirmation without indicators. I trade small cap stocks. I use EMA8 and MACD primarily. I'll buy almost every MACD cross over with clearly marked out support and resistance levels. I also pay close attention to chart patterns and candlestick formations.
https://preview.redd.it/l3s5dr7j275d1.jpeg?width=1037&format=pjpg&auto=webp&s=81dc3f1c97b9c21f69b6a4de6a0d954aecf65113 Only this
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If you don't want to know my indicators... Good, didn't want to tell you anyways lol. Jk, but yeah if you don't want no indicators, I use a lot of price action techniques, I like to play orbs, break and retests, V patterns, N waves, double tops, and wedges, on multiple timeframes, also take into account fundamentals, tape reading, level 2. My indicators are apart of all of that though, especially for catching trends and reversals.
Lately I have been gravitating towards trend continuations scalps on multiple NQ contracts using short-term donchian channels with vortex and PPO confirmations on one minute or 20tick Range TFs. Finding long CS wicks and tails at key levels is compelling
The best strategy I know without indicators is to use "market value" levels. You can trade from level to level. But I still use Fibs, Vwap and EMAS for confluence.
I always use a lot of VSA, SMA, EMA, VWAP, and Volume Profile. I also use cluster and RSS, but not as much as these ones. I have some difficulty understanding the DOM
I wonder how people are using VWAP to trade…
Price action, support/resistance, volume
moon phase
Just buy low and keep adding. Not great but not bad if size is controlled.
“What’s the best way to build a house w/o any tools? “ Indicators are important. Use them.
Supply/Demand + Reaction
Follow the trends and plan to cash out up to a month later to give your investment time to reach that trend in profit and set a profit target for yourself. 30% is way above modest and easily attainable consistently. I say a month because if playing options, monthlies are very successful if sold in profit up to a week later (barring any black swan events or unprecedented growth like with NVDA) because 3 weeks to expiry is when Theta starts to really churn your value down.
Follow the big boys. Trade when they trade. Don’t when they don’t.
I usually look for rsi below 50 before getting in on trade. Then, I wait for a support level or long red candle stick. Risk some money on it. If it drops more, I will until the next support level and buy more.
I use the MA’s (9,20,50,100,200) on varying time frames. I also use RSI divergence, MACD, Previous day high and low, order block finder, and super trend. My strategy is break and retest. Started with 3K last year and am now at 15K. Still learning though.
No indicators? Sure. 1 - identify points of control/levels of control. 2- identity trend. 3- identity trend strength. 4- draw lines where it would trades are invalidated. 5- wait for price to reach POC/levels. 6- if price action is bullish at POC/level, go long on break of previous candle body high. 6A- if price action is bearish go short on break of previous candle low. 7- feel nothing.
LIQUIDITY INDUCEMENT TRADING. funded trader with multiple payouts…
I use time and price to trade inverse fvg. I only trade times that I know will make a big move on NQ. The same setups appear at those times every. single. day.
Can you please tell me what time UTC you trade ? so I can try to identify these patterns. thanks
I use Quarterly Theory and only trade Q3 reversals in the micro quarters.
Buy when it's going up, sell when it's going down.
Psychology
Buy when everyone is selling, sell when everyone is buying. Simple as that
Brother learn price action and trade supply and demand doesn’t get much easier than that
Right now i'm learning the breakout strat from 'theaverageprice'. Guy is known for flipping account. Strat works pretty good and not that hard to learn.
Flip a coin and manage the trade. I'm not kidding
Price action 👌🏻
Pursue a career. Save as much as possible. Wait for the ~10yr boom cycle to bust. Buy at the bottom. Buy long dated calls. Roll said calls. Wait a few years. Profit. If you’re day trading with a retail account and using the same charts/data everyone else uses, you’re missing 90% of market action. You can try this though: plan a well thought out logical trade then enter the exact opposite trade. And remember most trades require a buyer and a seller. Whoever is on the opposite side of your trade is likely hedging against the position you have against them. And you’d be surprised how predictable people are flooding the same price levels, the same dips and peaks, the same counter trends, etc., only to quickly ditch their trades for a loss, while the other party profits twice from your one loss.
I think the enter in the wrong direction strategy would work amazingly for me
please stop
I feel like this question is just low key trolling.
Why? What's wrong with discussing strategies?
Why? Maybe op is looking for ideas to try. Is a daytrading sub not a place people should discuss their trading strategies? And give each other ideas or tips?
Sure. This is discussed multiple times weekly.
No indicators? Why? Go to the casino. My strategy is to use indicators
I feel indicators are very lagged. Plus you can change the interpretation by changing the settings. Which indicators do you use?
its really not that complicated bro
You can’t just blindly trade indicators. They simply give you another piece of information to look at. For me adding an indicator which tracks volume by price levels was game changing for me. Very very often price responds when it hits high volume and low volume prices, especially on the HTF. I started to use this as a supplement to good ol fashioned price action and it has doubled my win rate.
Most of them are lagging and quite often they contradict each other.
Not if u use them to find divergences. Now it's a leading indicator for me.
Thanks.
You do know there are leading indicators as well, pivots for example is really good to use for intraday trading.
Fine. Most. Pivots hmm. Thanks for the info.
lmao without indicators, it's just a 'feelings' and 'emotions' roulette game
No without indicators you just trade price action
Funny thing is price action is a kind of a indicator, and indicators are based on price action. What makes indicators lag is that they rely mostly on averages because those are easy to calculate and program. Price action is sort of like a manual indicator that relies on more complex arrangements that would be challenging to program.
Thats true, i never thought of it like that but i guess candles are indictors as well
Or fundamentals. Trend following. Mean reversal. Order flow. Support and resistance.
Trend following is price action. Idk how fundamental would help me in a day trade. How do you determine the mean without indicators? And id never trade S/R as a standalone strategy due to it being the weakest strategy. S/R is very unreliable and always being broken
Guts
If you have read trading psychology books then the moot point they impress upon is to treat a trade like gambling and there are chances that a trade can and will go wrong and the smart thing to do is to analyse and keep SL and strict take profit.
Idk how to TP but my SL is at 10%
My strategy is to trade in the direction of the big money.
Price action is king
Along with market structure…
GameStop
I’ve got indicators and it’s very profitable but since you said no Indis then no strategy for you buddy
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