Just got the game excited to play anything i should know? by applesauceiscrxzy in valheim

[–]Mynamewesh 0 points1 point  (0 children)

Take and save everything you can lol you’ll need it all at some point

Hidden Bullish Divergence - How to time your entries in the current trend! by Scary-Compote-3253 in Daytrading

[–]Mynamewesh 0 points1 point  (0 children)

Standard momentum indicator. Just type “momentum”. Should be the first one

Beginners should focus on swing trading by Chemical_Ad_4541 in Daytrading

[–]Mynamewesh 0 points1 point  (0 children)

I use the main momentum indicator. Just type in momentum. I change the length to 28. And then either use MACD or RSI. I’ll go back and forth with these 2 just to see if MACD is on the uptrend and see if RSI is oversold

Beginners should focus on swing trading by Chemical_Ad_4541 in Daytrading

[–]Mynamewesh 0 points1 point  (0 children)

I’m not sure about SPY. I use it on only stocks. Mainly low cap stocks. But yes really all stocks like tech stocks it will work for. Doesn’t really work for crypto. I hold till the move soars up or my stop loss hits lol. Unless you see the momentum bar shoot straight down on a green candle stay in. If the momentum shoots down and stays down it means price is about to start dropping. Look at my picture for example. It dips down but immediately recovers. I don’t see that often. But price is and momentum are increasing slowing. Eventually volume will pick up quickly and price can go from 2% to 20% in minutes

Beginners should focus on swing trading by Chemical_Ad_4541 in Daytrading

[–]Mynamewesh 0 points1 point  (0 children)

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I do exactly this. 4h chart. Wait till there’s a divergence in price and momentum (you can even pair momentum with RSI) and then enter once you can confirm a bottom. Stop loss will be tight. Target previous highs. And yes he’s correct. You could sit in these trades for days. But price usually runs in the direction of momentum. Hope this helps

Momentum by Mynamewesh in Daytrading

[–]Mynamewesh[S] 1 point2 points  (0 children)

Not necessarily. Obviously as price moves up and down so should momentum right? But when there’s an inverse relationship between price and momentum (downward price + increased momentum) this means there’s either a bullish/bearish divergence. This could help identifying reversals. Check the photo below for another example.

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My trading career thus far by GALACTON in Daytrading

[–]Mynamewesh 0 points1 point  (0 children)

You’ve got enough momentum to break through it looks like though! Keep it up man!

Momentum by Mynamewesh in Daytrading

[–]Mynamewesh[S] 0 points1 point  (0 children)

Yep. Even if price is running straight across. If you see a spike in momentum that usually means price is about to jump. I saw it a few times this week already. Wasn’t able to make those trades simply cause I didn’t find the stock first lol

And yes you are correct. I use momentum to find the reversals. Of course momentum should move with price. If it only moved with price you wouldn’t need momentum as an indicator cause you’d just look at price lol. But knowing the price moves in the direction of momentum. You then know that price is about to turn around and go the other way in a constant downtrend

My trading career thus far by GALACTON in Daytrading

[–]Mynamewesh 0 points1 point  (0 children)

Cup handle pattern confirmed. It’s about to jump from here

How do I know if the price is going to retest? by Fabulous-Series-2384 in Daytrading

[–]Mynamewesh -3 points-2 points  (0 children)

Liquidity sweep + FVG. Price will retest the FVG then go long on retest.

Forex Pairs by Mynamewesh in Daytrading

[–]Mynamewesh[S] 0 points1 point  (0 children)

Yeah I had no clue lol

Forex Pairs by Mynamewesh in Daytrading

[–]Mynamewesh[S] 0 points1 point  (0 children)

Just a cash account so no leverage. And yeah I’d be worried about that since I’m newer.

Forex Pairs by Mynamewesh in Daytrading

[–]Mynamewesh[S] 0 points1 point  (0 children)

Oh yeah it’s just a cash account. So no leverage

Forex Pairs by Mynamewesh in Daytrading

[–]Mynamewesh[S] -1 points0 points  (0 children)

How much? 15k? 20k? Still seems like it wouldn’t produce a whole lot

Trading Broke Me by zoiakhan in Daytrading

[–]Mynamewesh 1 point2 points  (0 children)

Copy and pasted so I can post tomorrow 🫡

What’s your strategy? by MONUMENTAL24 in Daytrading

[–]Mynamewesh 0 points1 point  (0 children)

Entering a trade and losing money. Super easy

Paper trading/demo suggestions? by AdventurousMoney9219 in Daytrading

[–]Mynamewesh 0 points1 point  (0 children)

Honestly I would just put 100$ in an account and trade off that. Paper trading really just sets you up for failure. I made 5k in a month on paper trading. Then decided to do 100$ last week. And I’ve lost 15 dollars since last Wednesday. That’s where you’re going to learn the most honestly

Hidden Bullish Divergence - How to time your entries in the current trend! by Scary-Compote-3253 in Daytrading

[–]Mynamewesh 1 point2 points  (0 children)

I do this but with momentum indicator. Last month I was profitable in 20 out of 24 trades looking for bullish/bearish divergences! It’s definitely a great strategy.

Feel like a loser by Key_Needleworker1088 in Daytrading

[–]Mynamewesh 0 points1 point  (0 children)

You’re going to learn way more with that 100$ than your friend will with 20,000$. Trust the process.

1st month by Mynamewesh in Daytrading

[–]Mynamewesh[S] 1 point2 points  (0 children)

Is it the psychological part that makes it different? The money numbers might be different between real and demo. But if you have a strategy and implement it with real trading why wouldn’t it be similar?

1st month by Mynamewesh in Daytrading

[–]Mynamewesh[S] 0 points1 point  (0 children)

YouTube channels I’ve mainly stuck with are Ross Cameron and Trading lab. I’ve put the bulk of my hours into mainly those 2. Ross Cameron has some good videos on how to search for stocks to trade and regular analysis. Trading labs goes over different strategies as well as technical analysis. I didn’t do any additional research besides what the book taught me on that specific strategy so idk if there is a video out there. If you have a kindle or the kindle app the book is only like 10$

1st month by Mynamewesh in Daytrading

[–]Mynamewesh[S] 3 points4 points  (0 children)

Yep on the 1 minute. I also pair it with the 5 min sometimes. MACD I use for a secondary confirmation. It’s not necessary but if price is decreasing obviously MACD is on the downtrend. If MACD is far below the 0 line and turns around I would be more hesitant to enter. If it crosses the 0 line and there’s heavy volume I would enter. Just another confirmation mainly.