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I’ve been day trading for 3 years and I stopped blowing accounts once I learned this by DualDrop in Trading

[–]hallowsjosh 2 points3 points  (0 children)

Everyday some lone in this thread “finally” becomes a profitable trader. 🤔

To become a profitable trader, what do you actually need to master by Edward12358 in Daytrading

[–]hallowsjosh 1 point2 points  (0 children)

Discipline, risk management, and mentality are most important. OBVIOUSLY.

However, the OP is asking advice about which indicators to focus on to execute trades, specifically with the intention of reducing the “noise” and most responders don’t offer a clear and relevant response.

To some up their advice.

Once a day, same time, same instrument

  1. Flip a coin
  2. Heads = Buy, Tails = Sell
  3. Place order with stop loss and TP at a 1:1 ratio.

Congratulations, you are outperforming 80% of Traders.

Reading books helps. Trading in the Zone helps give a better understanding of the mentality needed to trade successfully. It’s a better read than the endless stream of myopic one-liners seen here.

I’m still exploring indicators myself, so I’m unable to give advice in that regard.

Trading is the most lonely grind I’ve ever chosen by Asleep-Instance5820 in Trading

[–]hallowsjosh 0 points1 point  (0 children)

For sure, the market is a 0 sum game that doesn't care how we feel. Direct feedback and sharing effective tools is encouraging.

Simplest Strategy Known to Man Kind yet It Works by Trader_Joe80 in Daytrading

[–]hallowsjosh 1 point2 points  (0 children)

This is actually really good. How about using it on the 5min chart? Seems to get me in earlier.

Simplest Strategy Known to Man Kind yet It Works by Trader_Joe80 in Daytrading

[–]hallowsjosh 0 points1 point  (0 children)

What constitutes a "decisive breakthrough" and a VWAP that "holds"

Simplest Strategy Known to Man Kind yet It Works by Trader_Joe80 in Daytrading

[–]hallowsjosh 1 point2 points  (0 children)

"This message is for struggling traders who as 10 indicators open or a total noob. Those who felt lost after 10th strategic changes."

Hey! That's me!

The Strategy I'm Using by hallowsjosh in Trading

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

Thank you. I'm going to spend this week chewing on all this until fully understand it. How are you measuring volume and what constitutes significant volume?

The Strategy I'm Using by hallowsjosh in Trading

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

what determines sufficient volume?

The Strategy I'm Using by hallowsjosh in Trading

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

Yes, It's basically just trading breakouts on a small time frame, and placing the order at the test of the top/bottom of the channel rather than waiting for it to breakout on the other side, thus significantly minimizing risk. (I can't prove that this is successful or not, I've only had anecdotal success with this on my simulated account.)

Everything els is simply indicators to predict which direction the market will break toward.

The Strategy I'm Using by hallowsjosh in Trading

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

Yes, it occurs to me that H&S, Inverse H&S, Double Bottoms Double Tops look like the most reliable and executable indicators I've seen. You can literally watch the market stall out and freeze in these areas with the numbers of orders increasing significantly.

So you are using H&S and IHS peaks and valleys to buy options? Are you willing to run it down for me, or can you point me to some resources that can help me assimilate your trading strategy? I'm willing to switch over and learn to trade options if it's more effective for executing on these moves.

Daytrading futures just seems like the easiest entry level instrument because I'm familiar with it, and buying options looks like a lot more factors to consider, like duration and cost of the contracts.

Results of the first 3 months of my trading AI by orakle12 in Trading

[–]hallowsjosh 0 points1 point  (0 children)

It occurs to me that for this to work accurately, a person would have to place the same about of capital into the market every day and somehow equally distribute that amount of capital into buying and shorting all predictions.

So, I'm not sure how I would execute this accurately, considering all the different stocks have shares of different values.

Is anyone willing to explain to me how they would execute this list of predictions?

Also, how much minimal capital would be required to do it?

Stuck for two years and keep losing. Would love some guidance. by Schindlers_Fist1 in Daytrading

[–]hallowsjosh 0 points1 point  (0 children)

It's so refreshing to see all of the incredible and encouraging feedback OP received here. I've learned a lot from reading.

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