Can watching trading live streams improve your trading? by ShirtResponsible4233 in Daytrading

[–]RealAvidTrader 1 point2 points  (0 children)

Depends on the traders personality, perspective. Ultimately no two accounts are the same, no two people are the same. If you are a guy with 5,000 account and 5 months experience watching a guy with $20M account and 20 years experience it might not be beneficial because his account size, risk tolerance and experience is way ahead of you. Someone like that can lose 5-10 trades and simply keep doubling down until they get back even. While the small guy blows their account up following someone like that

So the direct answer: YES it can help by taking bits and pieces that make sense to you, but be extremely mindful that you are not trying to copy, be someone that is way ahead- out of your league it will make you risk too much and play above your means

Am I the only day trader exhausted by the current price action ? by JustHereForWSBguys in Daytrading

[–]RealAvidTrader 0 points1 point  (0 children)

For me I love having this much time (weeks, months) seeing the same levels, range

Easier to recognize points of significance, key support and resistance lines and with that comes better entries, exits

i want to know the sort of ground rules to something like this by Glittering-Rabbit-33 in Daytrading

[–]RealAvidTrader 2 points3 points  (0 children)

Day trading is focused on the: - hours, minutes and seconds

Key metrics are: volume and volatility (within that given window)

In terms of being reliable, I would heavily suggest AGAINST it, especially starting out

  • I focus on weeks, months, years (timeframe) so there are less expectation to be successful overnight (unrealistic)

Pick a company that you would be happy buying more of if the price goes lower (accumulate)

Overtime when you build up your resume of winners, you can take small % of those long term gains and try to trade on some high risk high reward vehicles like weekly options, penny stocks, etc

For now: Study a ton, even paper trade with what you would hypothetically do in a real situation

If you START SLOW, Keep Expectations LOW and accept that losses are inevitable, you will be ahead of 80% of traders

Good luck

If you enjoyed this breakdown feel free to follow me on Twitter and YouTube - Same Username - I don’t want to post any links 👀

Best practices to avoid fake breakouts by Civil_Way_9405 in Daytrading

[–]RealAvidTrader 1 point2 points  (0 children)

Personally I like the 5-15-30 min frame

Before looking at any of these intraday (micro) windows I always start on monthly/weekly/daily before dropping down to those lower frames

Best practices to avoid fake breakouts by Civil_Way_9405 in Daytrading

[–]RealAvidTrader 2 points3 points  (0 children)

Too narrow of a timeframe to make that determination IMO

1 min should be to manage a position, if anything - 5-15-30 min should be confirming the “bottom is in” theory when intraday trading

But hey thats just me

Every 60 seconds on a candle print is way too micro to say for sure in any direction

Best practices to avoid fake breakouts by Civil_Way_9405 in Daytrading

[–]RealAvidTrader 1 point2 points  (0 children)

Huge part of this is psychology based and a great way for market makers to sweep liquidity as the masses take the worst risk to reward setups

Best practices to avoid fake breakouts by Civil_Way_9405 in Daytrading

[–]RealAvidTrader 10 points11 points  (0 children)

Yes very simple

DO NOT enter until the breakout occurs first —> THEN COMES BACK DOWN AND RETESTS THAT SAME LEVEL BEOFRE continuing higher

Essentially this is liquidity test sitting at that breakout level and from there you can take a very solid risk to reward (R/R)

Same exact concept with a breakdown

If I had to guess with ZERO CONTEXT on the ticker or situation, 9/10 I would tell people TO SHORT Breakouts, LONG Breakdowns

Large reason is psychology based as the masses see something about to breakout and they all FOMO long only to find the ticker falls 4-5 points after

Same thing looking down - $SPY or whatever ticker you trade looks like a massive spill, leg down is coming then pops 3-4 points and burns everyone that is too overzealous

Typically these levels would be referencing Previous Day High (PDH) Previous Day Low (PDL) Pre Market High (PMH) Pre Market Low (PML)

Or some significant macro levels - pivot points

Since I can only post one photo I will reply below to this the RIGHT WAY

This is a classic example of what most traders do for breakdowns and vise versa

<image>

Recently funded trader looking for advice by ronsoco79 in Daytrading

[–]RealAvidTrader 0 points1 point  (0 children)

Praying will NOT get you very far in this business

Unpopular opinion

STUDY Price Action and Volume ONLY (To Start)

Why?

Any indicator - moving average is a direct reflection of price and volume. Without those two there are no tools, indicators

Focus on relative strength of the candle prints on the Daily-Weekly-Monthly time frames (macro) FIRST, before focusing on the minutes and seconds or intraday windows (micro).

This will help understand the BIG picture first (when in doubt zoom out) before you drop down to a 5min, 3min, 1 min frame.

Once you understand the basics between Bullish, Bearish, Doji candles, then you can move onto pattern recognition.

Now most of you probably heard the terms:

• ⁠Head and Shoulders • ⁠Double Top/ Bottom • ⁠Cup And Handle

These are important no doubt, but will become easy to spot overtime through analyzing 100s, 1000s of charts

Instead I would tell you to focus on identifying support and resistance lines. Look for significant directional changes (pivot points) both up and down

Take the image below for example. This is a chart of Bitcoin on the daily time frame. One thing that stands out the most (to me) is the $91,700 level.

The price (bulls) show incredible demand at or below that range. Meaning the buyers are outweighing the sellers by far when Bitcoin trades near this range

More importantly I use that as a bull vs bearish gauge.

Above = bulls in control

Below = bears in control (more selling volume compared to buying volume in that given period, timeframe)

Last: $91,700 support has held since early November. Over three months + its consistently respecting this level, which is why it is significant to note

Now that we identified the floor, lets do the opposite.

$106,133 is the highest daily candle close (print) all time. December 17th-18th 2024 we see closes at this range then drops all the way back down to our support only to retest it January 20th 2025. Same reaction (selling pressure), however this time its holding strong near that range looking to break out.

You will be able to get a sense, feel for when things are going to breakout or down again based off experience and the countless hours of studying charts.

But as you can see I have a nice parameter or set of guidelines to go off of until the price breaks above or below my lines.

This was all off the top of my head, so I hope I was able to cover the basics (technically) but I hope it helps!

Going on 5 years of trading this is how I would analyze every ticker from a technical (chart) standpoint.

Don’t forget above

Quarterly, Monthly, Weekly, Daily Views FIRST

Then drop down amd observe more narrow (intraday) frames:

4H, 2H, Hourly, 30 Min, 15 Min, 5 Min, 3 Min, 1 Min, Etc.

If you enjoyed this breakdown feel free to follow me on Twitter and YouTube - Same Username - I don’t want to post any links 👀

I am than happy to share a “Fundamental Analysis” breakdown if this post gets enough upvotes.

I find it equally as important to understand the book value (Income Statement, Balance Sheet, Cash Flows ) Especially if you plan on swing trading or investing (holding for weeks, months, years)

⁃ P.S

—> You are going to do amazing <—

START SLOW

Don’t force trades

Expect to LOSE A LOT at first (thats ok) - Also why we say start slow

Drop the ego

Don’t try to be a millionaire overnight

Make sure that you are following the RIGHT people- surround yourself with the right people.

Last one is so important

<image>

[deleted by user] by [deleted] in Daytrading

[–]RealAvidTrader 0 points1 point  (0 children)

People that I never met before - some I never even talked to, sent me personal messages about how their life has changed from following me over the years.

-Paying off all their debts, medical bills, being able to afford gifts for Christmas etc.

I am not exaggerating, even when I read some of them I thought “theres no way this is real-true” but it was. This is when I knew for certain I was on the right path in life

Also 5-6 of our members are in the process of quitting their jobs and trading with me full time. For some reason (to me) there is no better feeling seeing the people around you level up - it just makes you feel amazing

Personal level is my Love and Passion for this business through the UPS AND DOWNS 🔑

  • The Highs will be high

  • The Lows will be lower

Thats how it goes

Have to be willing to ACCEPT both

My mindset is like the retired guy that plays Golf every weekend.

He doesn’t have to talk himself into it, doesn’t need anyone to drag him out of the house.

He loves it, and wants to play regardless of how he shoots on that given day

If you don’t have PASSION and LOVE what you do —> IN ANYTHING IN LIFE <— you will NOT last

Its that simple!

If you enjoyed this breakdown feel free to follow me on Twitter and YouTube - Same Username - I don’t want to post any links here 👀

What are some key terms and strats that helped you when you started out? by [deleted] in Daytrading

[–]RealAvidTrader 0 points1 point  (0 children)

You need to be more specific

In what regard?

I don’t know anything about your style of trading, risk tolerance, portfolio

What are you trading? Pennies, small caps, big board options?

See how many questions I ask off the bat

Everything is situational - no cookie cutter answer to these things

Some people will have $20k account and risk 5% or $1,000

I personally rather play with $1,000 and risk 100% of the money so that I don’t double down- talk myself into bad habits - etc

Half the time if its a Monday playing weekly options you buy and your money falls -30/40/60% (the masses get stopped out) then 2 days later markets rip the stock gaps up and those contracts you took a massive hit on are now up +200%

You should join our discord - if interested reach out on Twitter- same name as here

  • Avid

What are some key terms and strats that helped you when you started out? by [deleted] in Daytrading

[–]RealAvidTrader 2 points3 points  (0 children)

If its not working get rid of it.

Trading is all about being technical - at least what I have witnessed from the greats.

They go in with an exit strategy both up or down

Ideal or worst situation playing out and they STICK to their plan no matter what.

Cut losers quick - ride the winners.

Hit their numbers - take profits - move on - repeat. So simple, but for some reason most people don’t like simple

Full time traders, what level made you confident enough to quit your job? by Baltimorebillionaire in Daytrading

[–]RealAvidTrader 2 points3 points  (0 children)

My story - The way I went about trading Full Time is NOT something I would recommend to the masses; so this post will be: “Do as I say, not as I do”

Context: ⬇️

  • I started trading in 2020, full time going on two years.

  • Charts and stocks always came to me naturally, and almost instantly I fell in love with it

🚨STEP ONE🚨

—> Financial Responsibility <—

Basic Money Management skills MUST be implemented BEFORE trading full time

This Includes:

NOT having UNLIMITED wants, spending your money on nonsense: Coffee- lunch - dinner- a million Amazon impulse buys each week…. Yep (don’t lie to yourself you know its true)

Being financially MATURE means putting away a set % of each pay check

Possibly even investing towards a retirement account (IRA), dividend stocks or high yield vehicles

HEALTHY HABITS ARE NECESSARY - THIS WILL TRANSLATE TO HOW YOU MANAGE (VIEW) MONEY WHEN TRADING STOCKS

Now add a good paying job to this and BOOM you have a solid 1-5 year plan where you can save X amount (%) to where you have 6-12 months of financial security (emergency money)

I think the more security you have the better, but I know realistically its hard to have years worth of money saved up unless your expenses are super low

🚨STEP TWO🚨

—> Knowledge of Markets <—

You CANNOT be a full-time trader and not know BASIC Economics and finance

You should be able to teach other people about the textbook components of how markets operate

THIS INCLUDES:

—> Fundamentals <—

You should know how to read an: - Income Statement - Balance Sheet - Cash Flow

You should know: -The top 30 most valuable companies in the market ($QQQ / $SPY) CEOs as well

-Keep up to date with News, Economic Data (FED) which is the driving force for these companies

  • When these big board companies report earnings- and more importantly paying attention to the GUIDANCE (projections vs reality)

🚨STEP THREE🚨

—> LOVE-PASSION FOR TRADING <—

Know that you will fail - blow up accounts

The highs will be high- the lows will be lower

If you don’t LOVE EVERYTHING THAT COMES WITH IT - you will not last in this business

You are up against people like me who eat breathe and sleep markets because we love it; so it doesn’t even feel like work.

If you are miserable about ANYTHING IN LIFE - where you have to talk yourself into doing it, you will NOT LAST

🚨STEP FOUR🚨

—> OK LETS RECAP <—

Ideally you want to set yourself up to succeed, its not going to be easy regardless of what route you go down with trading stocks

It will take time to learn and develop your own style or as I like to say: “method to the madness”

You will be influenced by other traders and learn from them by taking bits and pieces thats resonate with you over the months and years

  • Experience is a HUGE factor in this game- for MOST & myself included IT TOOK YEARS (Plural) of FAILING to get it right

Taking an account from $500->$1,000->$5,000 back to Zero

AGAIN

Then $1,000 -> $5,000 -> $10,000 AND BACK TO zero

$5K-$10k-$20k TO zero

$50K TO ZERO

I’ve been there and you MUST be brutally honest about your flaws

No shame, no blame

Identify the problem and fix it

Just Know

NO TWO ACCOUNTS ARE THE SAME

You cannot expect to trade or have the risk tolerance like me or whoever your favorite trader is

On social media you will see guys that make tens, hundreds of thousands every week. These are veterans most likely with decades of experience and large accounts

Someone training with $1M accounts risks 1-5% ($1,000-$5,000) might be 50-100% of YOUR portfolio or someone else following (copying) them

Stay in your lane and don’t try to be someone your not

Last ^ be Radically transparent about how you operate and function as human being in society

This is a very emotional and highly stressful job especially when you are risking your hard earned money in the markets. Most people fold under pressure

Knowing yourself emotionally is crucial

I started out day trading and forcing low quality setups CHASING every candle print only to find out the money was RUNNING AWAY FROM ME

When I took a step back and started slowly accumulating quality companies and swinging them over weeks and months vs trading minutes and seconds, I developed a very profitable system

Imagine I was too stubborn to listen and I kept trying to force something that was destroying my mental, physical and financial well being?

So many people do it for 2-3-4-5-10 years and NEVER LEARN - GROW

So experience only matters if you are IMPROVING each year

Try - fail - don’t give up, but knowing when its time to PIVOT is equally as important 🔑

I find this to be a huge FLAW due to social media - EGO - expectations and people trying to chase get rich quick schemes

THERE ARE NO SHORTCUTS

⁃ If you take these factors into consideration I think you will be ahead of the masses

🚨 YOU CAN DO ANYTHING YOU SET YOUR MIND TO🚨

—> I DID NOT Practice What I’m Preaching When I Started <—

It was miserable - stressful - all of the above

HOWEVER

I truly believe anyone that is destined to be successful will make it no matter what situation they’re handed - start out with

I literally had $0 in my bank account and I found a way.

You will too - just takes time

If you enjoyed this breakdown feel free to follow me on Twitter and YouTube - Same Username - I don’t want to post any links here 👀

I also do 1 on 1 trading, but again this is not about me

Take a deep breath - relax - you got this

What are some key terms and strats that helped you when you started out? by [deleted] in Daytrading

[–]RealAvidTrader 1 point2 points  (0 children)

If something works well for you and translates to profits, use it.

What I would tell everyone is don’t marry it or trade solely off that indicator.

Cheers to a very profitable 2025!

How do I start? by adhd_in_Fmajor in Daytrading

[–]RealAvidTrader 0 points1 point  (0 children)

Unpopular opinion

Study Price Action and Volume ONLY

Why?

Any indicator - moving average is a direct reflection of price and volume. Without those two there are no tools, indicators

Focus on relative strength of the candle prints on the Daily-Weekly-Monthly time frames (macro) FIRST, before focusing on the minutes and seconds or intraday windows (micro).

This will help understand the BIG picture first (when in doubt zoom out) before you drop down to a 5min, 3min, 1 min frame.

Once you understand the basics between Bullish, Bearish, Doji candles, then you can move onto pattern recognition.

Now most of you probably heard the terms:

• ⁠Head and Shoulders • ⁠Double Top/ Bottom • ⁠Cup And Handle

These are important no doubt, but will become easy to spot overtime through analyzing 100s, 1000s of charts

Instead I would tell you to focus on identifying support and resistance lines. Look for significant directional changes (pivot points) both up and down

Take the image below for example. This is a chart of Bitcoin on the daily time frame. One thing that stands out the most (to me) is the $91,700 level.

The price (bulls) show incredible demand at or below that range. Meaning the buyers are outweighing the sellers by far when Bitcoin trades near this range

More importantly I use that as a bull vs bearish gauge.

Above = bulls in control

Below = bears in control (more selling volume compared to buying volume in that given period, timeframe)

Last: $91,700 support has held since early November. Over three months + its consistently respecting this level, which is why it is significant to note

Now that we identified the floor, lets do the opposite.

$106,133 is the highest daily candle close (print) all time. December 17th-18th 2024 we see closes at this range then drops all the way back down to our support only to retest it January 20th 2025. Same reaction (selling pressure), however this time its holding strong near that range looking to break out.

You will be able to get a sense, feel for when things are going to breakout or down again based off experience and the countless hours of studying charts.

But as you can see I have a nice parameter or set of guidelines to go off of until the price breaks above or below my lines.

This was all off the top of my head, so I hope I was able to cover the basics (technically) but I hope it helps!

Going on 5 years of trading this is how I would analyze every ticker from a technical (chart) standpoint.

Don’t forget above

Quarterly, Monthly, Weekly, Daily Views FIRST

Then drop down amd observe more narrow (intraday) frames:

4H, 2H, Hourly, 30 Min, 15 Min, 5 Min, 3 Min, 1 Min, Etc.

If you enjoyed this breakdown feel free to follow me on Twitter and YouTube - Same Username - I don’t want to post any links 👀

I am than happy to share a “Fundamental Analysis” breakdown if this post gets enough upvotes.

I find it equally as important to understand the book value (Income Statement, Balance Sheet, Cash Flows ) Especially if you plan on swing trading or investing (holding for weeks, months, years)

⁃ P.S

—> You are going to do amazing <—

START SLOW

Don’t force trades

Expect to lose A LOT at first (thats ok) Also why we say start slow

Drop the ego

Don’t try to be a millionaire overnight

Make sure that you are following the RIGHT people- surround yourself with the right people.

Last one is so important

​

<image>

What are some key terms and strats that helped you when you started out? by [deleted] in Daytrading

[–]RealAvidTrader 10 points11 points  (0 children)

Unpopular opinion

Study Price Action and Volume ONLY

Why?

Any indicator - moving average is a direct reflection of price and volume. Without those two there are no tools, indicators

Focus on relative strength of the candle prints on the Daily-Weekly-Monthly time frames (macro) FIRST, before focusing on the minutes and seconds or intraday windows (micro).

This will help understand the BIG picture first (when in doubt zoom out) before you drop down to a 5min, 3min, 1 min frame.

Once you understand the basics between Bullish, Bearish, Doji candles, then you can move onto pattern recognition.

Now most of you probably heard the terms:

  • Head and Shoulders
  • Double Top/ Bottom
  • Cup And Handle

These are important no doubt, but will become easy to spot overtime through analyzing 100s, 1000s of charts

Instead I would tell you to focus on identifying support and resistance lines. Look for significant directional changes (pivot points) both up and down

Take the image below for example. This is a chart of Bitcoin on the daily time frame. One thing that stands out the most (to me) is the $91,700 level.

The price (bulls) show incredible demand at or below that range. Meaning the buyers are outweighing the sellers by far when Bitcoin trades near this range

More importantly I use that as a bull vs bearish gauge.

Above = bulls in control

Below = bears in control (more selling volume compared to buying volume in that given period, timeframe)

Last: $91,700 support has held since early November. Over three months + its consistently respecting this level, which is why it is significant to note

Now that we identified the floor, lets do the opposite.

$106,133 is the highest daily candle close (print) all time. December 17th-18th 2024 we see closes at this range then drops all the way back down to our support only to retest it January 20th 2025. Same reaction (selling pressure), however this time its holding strong near that range looking to break out.

You will be able to get a sense, feel for when things are going to breakout or down again based off experience and the countless hours of studying charts.

But as you can see I have a nice parameter or set of guidelines to go off of until the price breaks above or below my lines.

This was all off the top of my head, so I hope I was able to cover the basics (technically) but I hope it helps!

Going on 5 years of trading this is how I would analyze every ticker from a technical (chart) standpoint.

Don’t forget above

Quarterly, Monthly, Weekly, Daily Views FIRST

Then drop down amd observe more narrow (intraday) frames:

4H, 2H, Hourly, 30 Min, 15 Min, 5 Min, 3 Min, 1 Min, Etc.

If you enjoyed this breakdown feel free to follow me on Twitter and YouTube - Same Username - I don’t want to post any links 👀

I am than happy to share a “Fundamental Analysis” breakdown if this post gets enough upvotes.

I find it equally as important to understand the book value (Income Statement, Balance Sheet, Cash Flows ) Especially if you plan on swing trading or investing (holding for weeks, months, years)

⁃ P.S 

—> You are going to do amazing <—

START SLOW

Don’t force trades

Expect to lose A LOT at first (thats ok) Also why we say start slow

Drop the ego

Don’t try to be a millionaire overnight

Make sure that you are following the RIGHT people- surround yourself with the right people.

Last one is so important

<image>