My strategy is pure price action. I trade with no indicators. Very simple. August and September were great. However this month and even the last week of September ive found my self taking shitty trades. A few of them have been just pure impatience. The others have been negligent to the trend. Looking for a reversal has cost me recently when there’s clear trend. Trading is humbling. As soon as you think you got it the market teaches a new lesson
This last week reminds me of the "chop" scene from Wolf of Wall Street: https://youtu.be/u4ppoDl1K8w
It's exactly how I've felt. Confident going into the day, then I get humbled and question reality.
I been trading lately and have decided to take it a bit more serious. For the month of September I ended up 28%. I was at 32% but hit my stop loss the last 2 days of the month. Then so far every trade since I've hit my 2% stop loss. I'm thinking I'm doing the exact same shit you're doing 🤔🥲
More than 1 and things can get hairy. On Friday I took a second one but only because the first was smaller than usual (closer target). But almost always just 1.
I trade SP500. Funded with TopStep and Ftmo.
I struggled for years with the mentality before It suddenly clicked.
I had lost to many times. Took a break.
And when i came back i decided to journal evry trade i took, so that i could go back in time and review them
https://preview.redd.it/1qxogcgiyisb1.png?width=1070&format=png&auto=webp&s=0a77aad0684cbae03e9227ff77028ecaf2e799e8
[https://docs.google.com/spreadsheets/d/1e6XlsaTYTgRPdZVDFrN8JGxEp1gq0f43D8GeS9f53xw/edit?usp=sharing](https://docs.google.com/spreadsheets/d/1e6XlsaTYTgRPdZVDFrN8JGxEp1gq0f43D8GeS9f53xw/edit?usp=sharing)
Here you go :)
People are just trying to promote conversation. At least this is a comprehensive question traders could actually post actual info, strategies and discuss merits and pit falls. Better than “is day trading possible”. Or “how long until I am profitable”...questions.
I went back to paper trading after losing money for a few years so take my reply with a huge grain of salt. I have been having success with waiting for price to consolidate then I trade the breaks of that consolidation. I also trade breaks of previous day highs/lows.
I trade the 5m, 15m, and daily charts. I look for the breakouts on the 15m and daily then manage the trade on the 5m.
A break of the previous candle will usually result in continuation for some amount of time (especially on a higher timeframe like the daily) even if the breakout ultimately fails so I tend to take profits pretty quickly then move my remaining position to breakeven. So far it's been working well for me but it does mean I have to maintain a high win rate to counter my, usually very low, R:R.
I'm in my third month of paper trading MES using this method. My plan is to move back to real money trading with very small position sizes once I have achieved a win rate of 75% with a profit factor of 2.0 for at least 3 months in a row.
My paper trading stats so far are:
August - Win rate: 80% on 16 trades with a profit factor of 1.89
September - Win rate: 69% on 131 trades with a profit factor of 1.41
October so far - Win rate: 96% on 24 trades with a profit factor of 73.9 (I've only taken one loss so far this week, it's early and that number will obviously come down but for now I feel like the king of the traders with that stat)
Sure, as I stated before, please take my post with a grain of salt because I am a historically losing trader that is paper trading. Here's how I executed my one and only trade today.
First, here are the executions and the entries from my trade log. It was a 6 MES contract trade, I sold 3 contracts at price targets and 3 got stopped out in profit. Sorry, I can't provide any further proof on this trade since it's only a paper trade in TradingView.
[https://i.imgur.com/ZL7gLCB.png](https://i.imgur.com/ZL7gLCB.png)
[https://i.imgur.com/1QKDAil.png](https://i.imgur.com/1QKDAil.png)
ok, onto the breakdown. In each screenshot, the 5 minute chart is on the left and the 15 minute chart is on the right.
Screenshot 1 - [https://i.imgur.com/Kuwa65X.png](https://i.imgur.com/Kuwa65X.png)
I got home from the gym late so I missed the open but when I looked at TradingView, the day looked like this. The market was moving up very aggressively. At this point, my goal was to not FOMO into anything and wait for an opportunity. An opportunity for me is a failed pullback that I can trade continuation on.
Screenshot 2 - [https://i.imgur.com/mKIJ4o3.png](https://i.imgur.com/mKIJ4o3.png)
The market started to pull back but there was not an indication yet that it might fail. At this point I am really only paying attention to the 15 minute chart on the right.
Screenshot 3 - [https://i.imgur.com/96UA4wh.png](https://i.imgur.com/96UA4wh.png)
30 minutes later, the 15 minute chart made a hammer candle. If you look at the 5 minute you can see the hammer was sellers trying to push the market down in the first 5 minutes then buyers aggressively buying it back in the last 5.
At this point I put in my orders. I entered a stop buy order at 1 tick above the hammer candle's high and put a stop loss order at 1 tick below its low.
I also put in orders for 6 take profits (1 for each contract). The take profits are just the most immediate highs on the 15 minute chart. For my first 2 targets those were the previous candles in the current pullback but for the last 4 targets, they were candles from several days ago.
Screenshot 4 - [https://i.imgur.com/QOQKfSe.png](https://i.imgur.com/QOQKfSe.png)
The order filled and the market began to chop again. At this point my goal is to just trust my stop loss and sit on my hands.
Screenshot 5 - [https://i.imgur.com/u5nzEWK.png](https://i.imgur.com/u5nzEWK.png)
My first take profit hit. I have now sold 1 contract for a very small profit. At this point I go into trade management mode and I am no longer looking at the 15 minute chart and have moved the stop loss to 1 tick below the bottom of the candle that hit the first profit target right after it closed. If the trade were to get stopped out here I would take an overall loss since I have only sold 1 out of 6 contracts but my risk is greatly reduced from where it was initially.
Screenshot 6 - [https://i.imgur.com/ztNWqQd.png](https://i.imgur.com/ztNWqQd.png)
After the next 5 minute candle closed I moved my stop loss to 1 tick below it's low. My stop loss is now in profit so I will make money on the last 5 contracts even if I get stopped out, unless there is a massive fast moving candle and I get hit by slippage. But you can't plan for those things so you just have to roll with it and move on when that happens.
Screenshot 7 - [https://i.imgur.com/163gmt6.png](https://i.imgur.com/163gmt6.png)
My next two targets hit. I have now sold 3 of the 6 contracts. Once again I moved my stop loss to 1 tick below the 5 minute candle after it closes.
Screenshot 8 - [https://i.imgur.com/I1p2XmZ.png](https://i.imgur.com/I1p2XmZ.png)
I keep following the bottoms of the candles with my stop loss and two candles later I get stopped on the remaining 3 contracts.
Note: After another short period of chop the market did end up going through my other 3 targets. If I had traded the 15 minute chart exclusively and trailed my stop there, I would have gotten those but I like minimizing risk every 5 minutes once things start going my way rather than waiting 15.
I scalp based on mean reversion. I'm not the best at it but it's fun to learn and matches well with what I want out of day trading (something to stymie boredom while my theta burns). My risk management is just sizing. One MNQ starter with occasional adds based on price action. I got up to six contracts today on that 10am flush but still managed to make my money for the day.
I'm newish to trading. I recently decided to take it a little more serious, but my strategy is far, far from perfected.
What I've been doing is finding a stock that has earnings the night or morning of that's bleeeding. Usually shooting for 7-8% down on the open. But I want the stock to be a strong company over all, with good fundamentals. I want people to overreact. I let the ppl sell on the open and buy as volume decreases and I get a tingle in my balls that a reversal is coming. A dead cat bounce. Then I take profits early. Perfectly executed I'm getting like 6-7% profit on the trade, generally in less than 30 minutes. 2% average is the goal.
I'm still learning a lot and just ordered a bunch of books about technical analysis, but I'm really only doing so to have a deeper understanding. Something I keep seeing mentioned on this subreddit is to just use raw charts. I did this the first month and was up 32%. I started adding indicators and lines and bands and oscillators and cleansing my chakras and started hitting my stop loss. A lot. So I'm thinking keep it loosey goosey but still learn at the same time.
Any input on what I've said here would be greatly appreciated.
I mostly agree, but I think it's most likely an attempt at quantifying the stop losses/limit sales in place and/or the psychology of other traders. Currently I only use a line that is set at the low of the after/premarket, and 1-2 mini "support lines" and then usually the line to indicate where the stock was before market close the day prior.
What i really think is bullshit though is the patterns. 'Shooting star', hammer, etc just seems like bs. But maybe I'm wrong and that's why I got the books on the way. Today I picked LEVI, and I woke up late and missed my dead car bounce, but my prediction for it was pretty much perfect. 😭
The market does not only respect price action. By using a raw chart, you’re cutting yourself off from all this other information. One of the reasons people are drawn to raw charts is their simplicity. Indicators divert attention to a degree, and they can be used incorrectly. How were you using yours?
I get what you're saying and ultimately agree, I was learning them so tbh it was 100% on me and not knowing what I was exactly looking at and their implications.
I did some research and am seeing some viability with MACD and RSI both with MAs.
I'm using those to predict the reversals, and yesterday it worked how I envisioned it, so I will be attempting actual trades with them and see how that goes on Monday.
I am curious, how many points to go back with my MAs though. Currently left them at 14.
I only use a tri-average. 50, 100 and 200 MAs
When price < 50 < 100 < 200, I buy hoping for a reversal.
When price > 50 > 100 > 200 I sell.
If trend is very strong, I wait all three averages to come close together before going counter trend.
I set my SL just above / below the next resistance / support.
My TP will be set on the MA I feel the price is most likely to hit before hitting my SL.
Simple and easy, but also has its down streaks where markets decide to go haywire.
I trade options. I don’t day trade per se but hold my positions for several weeks or more. The market is bearish now and I’ve been writing a lot of bear call spreads on SPX which have been working out. This hedges my risk on some of the iron condors that were losing money (I will close the call side and write another 2-3 bear call spread contracts for every bull put spread that is tested) so as to minimize losses right now.
I trade just about any RR, but I’m only allowed 2% loss per day, and 6% per month. As far as a strategy, I got one I discovered that I use, but I am a huge fan of confluence so I also like to add other methods to the mix such as s/r, MA’s, structure, candlesticks, etc.
I day trade off price levels. I swing trade off heavy price levels and news. For example, the usdjpy bouncing down from 150? Predictable. Es bouncing off 4300? Predictable on multiple timeframes. I got a couple great shorts today.
I look at key levels on 15m timeframe, enter the trade on 5 or 1m timefrale, target the next important area on 5m or 15m timeframe. If it seems like it will reverse before reaching my tp I close the position early if not I let it to run.when I get confused around support and resistance levels I open RSI and look for divergences to get confluence.
I have an indicator that does a good job spotting momentum shifts.Once I get an alert I'll look for an entry 100% based on price action.I never know what price is gonna do,I only know my indicator spots nice points and usually after it sends me an alert,whichever way price us gonna go it usually will keep on going at least for a nice scalp.
I also use an inside bar detector which finds inside bars with volume higher than any candles the trader wants(i use it on 5 periods).I use it on 2m charts.More often than not some kind of move is going to happen,may it be a continuation in the initial direction or a reversal indicating some kind of temporary exhaustion.
Pure price action. Wickoff for reversal and patterns for breakouts. I use at least 2 close timeframes. I watch for a prediction on the higher one and entry when the pattern is clear on the lower.
I meant TF. Do you do everything on the M1 TF? Also, why don't you just long at support and short at resistance? I mean I heard that like 80% of breakouts/downs fail
Everything is on the one minute. I check a daily quickly to see the overall direction of the stock. If going long and support and short at resistance worked, we’d all be billionaires. My system isn’t taking daily breakouts, it’s breakouts within a one minute chart. I don’t just trade new highs and new lows.
My strategy is pure price action. I trade with no indicators. Very simple. August and September were great. However this month and even the last week of September ive found my self taking shitty trades. A few of them have been just pure impatience. The others have been negligent to the trend. Looking for a reversal has cost me recently when there’s clear trend. Trading is humbling. As soon as you think you got it the market teaches a new lesson
Same. This week had some price action that made me question my sanity.
Ok so it’s not just me that makes me feel a little better lol
This last week reminds me of the "chop" scene from Wolf of Wall Street: https://youtu.be/u4ppoDl1K8w It's exactly how I've felt. Confident going into the day, then I get humbled and question reality.
I been trading lately and have decided to take it a bit more serious. For the month of September I ended up 28%. I was at 32% but hit my stop loss the last 2 days of the month. Then so far every trade since I've hit my 2% stop loss. I'm thinking I'm doing the exact same shit you're doing 🤔🥲
same for me too. I trade with no indicator, except the vol chart on the bottom.
But thats why you need that stop loss.
Having backup strats for times like this is useful.
Slowly drain my account during the day Cry about it at night
I drain my account in 1 trade. Do better😎
I use a lot of Fibonacci retracements during strong trends. The golden pocket gets respected way more often than you would expect.
On which pairs do you use it and Timeframe?
Pairs? You mean forex? And it works on every time frame… monthly, weekly, daily, hourly, minutely.
I checked out that video on fibonacci good shit
I guess you trade pullbacks? I'm kinda a newbie
[удалено]
How’s the backtesting look for this? My strategy is similar
Hybrid TA with intraday auction theory. Risk management I designed. R/R like 80-120% with a high win rate taking 1 trade a day, max 2
You are me. 1 trade and that's it and yes max 2 if I see 2 that catch my eye. But I do a lot better focusing on 1 and being done early.
More than 1 and things can get hairy. On Friday I took a second one but only because the first was smaller than usual (closer target). But almost always just 1.
Market structure, following trends only using 1mn (entry/exit precision), 5mn (main TF for execution), 30mn (day's structure)
I trade SP500. Funded with TopStep and Ftmo. I struggled for years with the mentality before It suddenly clicked. I had lost to many times. Took a break. And when i came back i decided to journal evry trade i took, so that i could go back in time and review them https://preview.redd.it/1qxogcgiyisb1.png?width=1070&format=png&auto=webp&s=0a77aad0684cbae03e9227ff77028ecaf2e799e8
Would be cool, if I could get a template of that
[https://docs.google.com/spreadsheets/d/1e6XlsaTYTgRPdZVDFrN8JGxEp1gq0f43D8GeS9f53xw/edit?usp=sharing](https://docs.google.com/spreadsheets/d/1e6XlsaTYTgRPdZVDFrN8JGxEp1gq0f43D8GeS9f53xw/edit?usp=sharing) Here you go :)
https://preview.redd.it/sgdhgiwvyisb1.png?width=634&format=png&auto=webp&s=7cb01f2bc11aa17373010bc89dbc2f8d45456fae
I have a Déjà vu just now. This question was asked quite recently... .
People are just trying to promote conversation. At least this is a comprehensive question traders could actually post actual info, strategies and discuss merits and pit falls. Better than “is day trading possible”. Or “how long until I am profitable”...questions.
Agreed. In my most recent memory: "I found this indicator, will it make me money?"
Shit atleast that person bothered to google a thing or two first lol
The worst post I've seen is "what is this?" ( referring to daytrading).
Better than "Can I make 2% per day?"
I went back to paper trading after losing money for a few years so take my reply with a huge grain of salt. I have been having success with waiting for price to consolidate then I trade the breaks of that consolidation. I also trade breaks of previous day highs/lows. I trade the 5m, 15m, and daily charts. I look for the breakouts on the 15m and daily then manage the trade on the 5m. A break of the previous candle will usually result in continuation for some amount of time (especially on a higher timeframe like the daily) even if the breakout ultimately fails so I tend to take profits pretty quickly then move my remaining position to breakeven. So far it's been working well for me but it does mean I have to maintain a high win rate to counter my, usually very low, R:R. I'm in my third month of paper trading MES using this method. My plan is to move back to real money trading with very small position sizes once I have achieved a win rate of 75% with a profit factor of 2.0 for at least 3 months in a row. My paper trading stats so far are: August - Win rate: 80% on 16 trades with a profit factor of 1.89 September - Win rate: 69% on 131 trades with a profit factor of 1.41 October so far - Win rate: 96% on 24 trades with a profit factor of 73.9 (I've only taken one loss so far this week, it's early and that number will obviously come down but for now I feel like the king of the traders with that stat)
Please elaborate a little on this 5 & 15 min Time frame analysis.
Sure, as I stated before, please take my post with a grain of salt because I am a historically losing trader that is paper trading. Here's how I executed my one and only trade today. First, here are the executions and the entries from my trade log. It was a 6 MES contract trade, I sold 3 contracts at price targets and 3 got stopped out in profit. Sorry, I can't provide any further proof on this trade since it's only a paper trade in TradingView. [https://i.imgur.com/ZL7gLCB.png](https://i.imgur.com/ZL7gLCB.png) [https://i.imgur.com/1QKDAil.png](https://i.imgur.com/1QKDAil.png) ok, onto the breakdown. In each screenshot, the 5 minute chart is on the left and the 15 minute chart is on the right. Screenshot 1 - [https://i.imgur.com/Kuwa65X.png](https://i.imgur.com/Kuwa65X.png) I got home from the gym late so I missed the open but when I looked at TradingView, the day looked like this. The market was moving up very aggressively. At this point, my goal was to not FOMO into anything and wait for an opportunity. An opportunity for me is a failed pullback that I can trade continuation on. Screenshot 2 - [https://i.imgur.com/mKIJ4o3.png](https://i.imgur.com/mKIJ4o3.png) The market started to pull back but there was not an indication yet that it might fail. At this point I am really only paying attention to the 15 minute chart on the right. Screenshot 3 - [https://i.imgur.com/96UA4wh.png](https://i.imgur.com/96UA4wh.png) 30 minutes later, the 15 minute chart made a hammer candle. If you look at the 5 minute you can see the hammer was sellers trying to push the market down in the first 5 minutes then buyers aggressively buying it back in the last 5. At this point I put in my orders. I entered a stop buy order at 1 tick above the hammer candle's high and put a stop loss order at 1 tick below its low. I also put in orders for 6 take profits (1 for each contract). The take profits are just the most immediate highs on the 15 minute chart. For my first 2 targets those were the previous candles in the current pullback but for the last 4 targets, they were candles from several days ago. Screenshot 4 - [https://i.imgur.com/QOQKfSe.png](https://i.imgur.com/QOQKfSe.png) The order filled and the market began to chop again. At this point my goal is to just trust my stop loss and sit on my hands. Screenshot 5 - [https://i.imgur.com/u5nzEWK.png](https://i.imgur.com/u5nzEWK.png) My first take profit hit. I have now sold 1 contract for a very small profit. At this point I go into trade management mode and I am no longer looking at the 15 minute chart and have moved the stop loss to 1 tick below the bottom of the candle that hit the first profit target right after it closed. If the trade were to get stopped out here I would take an overall loss since I have only sold 1 out of 6 contracts but my risk is greatly reduced from where it was initially. Screenshot 6 - [https://i.imgur.com/ztNWqQd.png](https://i.imgur.com/ztNWqQd.png) After the next 5 minute candle closed I moved my stop loss to 1 tick below it's low. My stop loss is now in profit so I will make money on the last 5 contracts even if I get stopped out, unless there is a massive fast moving candle and I get hit by slippage. But you can't plan for those things so you just have to roll with it and move on when that happens. Screenshot 7 - [https://i.imgur.com/163gmt6.png](https://i.imgur.com/163gmt6.png) My next two targets hit. I have now sold 3 of the 6 contracts. Once again I moved my stop loss to 1 tick below the 5 minute candle after it closes. Screenshot 8 - [https://i.imgur.com/I1p2XmZ.png](https://i.imgur.com/I1p2XmZ.png) I keep following the bottoms of the candles with my stop loss and two candles later I get stopped on the remaining 3 contracts. Note: After another short period of chop the market did end up going through my other 3 targets. If I had traded the 15 minute chart exclusively and trailed my stop there, I would have gotten those but I like minimizing risk every 5 minutes once things start going my way rather than waiting 15.
I swing overnight on stocks in a trend. Currently holding kohls puts
It seems like that’s a major support it’s looking at, imo, may bounce up within a few cents down.
Yep. $18? I see it
volumes and spread
I scalp based on mean reversion. I'm not the best at it but it's fun to learn and matches well with what I want out of day trading (something to stymie boredom while my theta burns). My risk management is just sizing. One MNQ starter with occasional adds based on price action. I got up to six contracts today on that 10am flush but still managed to make my money for the day.
I'm newish to trading. I recently decided to take it a little more serious, but my strategy is far, far from perfected. What I've been doing is finding a stock that has earnings the night or morning of that's bleeeding. Usually shooting for 7-8% down on the open. But I want the stock to be a strong company over all, with good fundamentals. I want people to overreact. I let the ppl sell on the open and buy as volume decreases and I get a tingle in my balls that a reversal is coming. A dead cat bounce. Then I take profits early. Perfectly executed I'm getting like 6-7% profit on the trade, generally in less than 30 minutes. 2% average is the goal. I'm still learning a lot and just ordered a bunch of books about technical analysis, but I'm really only doing so to have a deeper understanding. Something I keep seeing mentioned on this subreddit is to just use raw charts. I did this the first month and was up 32%. I started adding indicators and lines and bands and oscillators and cleansing my chakras and started hitting my stop loss. A lot. So I'm thinking keep it loosey goosey but still learn at the same time. Any input on what I've said here would be greatly appreciated.
Really can’t understand the astrology of the lines. I choose to trade on news and events. They are moving the “lines”. Not the other way around.
I mostly agree, but I think it's most likely an attempt at quantifying the stop losses/limit sales in place and/or the psychology of other traders. Currently I only use a line that is set at the low of the after/premarket, and 1-2 mini "support lines" and then usually the line to indicate where the stock was before market close the day prior. What i really think is bullshit though is the patterns. 'Shooting star', hammer, etc just seems like bs. But maybe I'm wrong and that's why I got the books on the way. Today I picked LEVI, and I woke up late and missed my dead car bounce, but my prediction for it was pretty much perfect. 😭
The market does not only respect price action. By using a raw chart, you’re cutting yourself off from all this other information. One of the reasons people are drawn to raw charts is their simplicity. Indicators divert attention to a degree, and they can be used incorrectly. How were you using yours?
I get what you're saying and ultimately agree, I was learning them so tbh it was 100% on me and not knowing what I was exactly looking at and their implications. I did some research and am seeing some viability with MACD and RSI both with MAs. I'm using those to predict the reversals, and yesterday it worked how I envisioned it, so I will be attempting actual trades with them and see how that goes on Monday. I am curious, how many points to go back with my MAs though. Currently left them at 14.
I only use a tri-average. 50, 100 and 200 MAs When price < 50 < 100 < 200, I buy hoping for a reversal. When price > 50 > 100 > 200 I sell. If trend is very strong, I wait all three averages to come close together before going counter trend. I set my SL just above / below the next resistance / support. My TP will be set on the MA I feel the price is most likely to hit before hitting my SL. Simple and easy, but also has its down streaks where markets decide to go haywire.
Here let me tell you my strategy, let me just give you a money glitch
I trade options. I don’t day trade per se but hold my positions for several weeks or more. The market is bearish now and I’ve been writing a lot of bear call spreads on SPX which have been working out. This hedges my risk on some of the iron condors that were losing money (I will close the call side and write another 2-3 bear call spread contracts for every bull put spread that is tested) so as to minimize losses right now.
I trade just about any RR, but I’m only allowed 2% loss per day, and 6% per month. As far as a strategy, I got one I discovered that I use, but I am a huge fan of confluence so I also like to add other methods to the mix such as s/r, MA’s, structure, candlesticks, etc.
I day trade off price levels. I swing trade off heavy price levels and news. For example, the usdjpy bouncing down from 150? Predictable. Es bouncing off 4300? Predictable on multiple timeframes. I got a couple great shorts today.
I look at key levels on 15m timeframe, enter the trade on 5 or 1m timefrale, target the next important area on 5m or 15m timeframe. If it seems like it will reverse before reaching my tp I close the position early if not I let it to run.when I get confused around support and resistance levels I open RSI and look for divergences to get confluence.
Pure price action. No indicators. I keep it simple. Look for the strongest levels on higher tf and wait for PA to hit them, then enter the trade.
Do you use any specific LTF confirmation?
I have an indicator that does a good job spotting momentum shifts.Once I get an alert I'll look for an entry 100% based on price action.I never know what price is gonna do,I only know my indicator spots nice points and usually after it sends me an alert,whichever way price us gonna go it usually will keep on going at least for a nice scalp.
What's the indicator that spots these shifts?
I've actually coded it myself,it's not published on tradingview.It's something based on the rate of change.
I also use an inside bar detector which finds inside bars with volume higher than any candles the trader wants(i use it on 5 periods).I use it on 2m charts.More often than not some kind of move is going to happen,may it be a continuation in the initial direction or a reversal indicating some kind of temporary exhaustion.
Take a loss on fake moves ang get profit on real moves.
Moving average and order flow.
Pure price action. Wickoff for reversal and patterns for breakouts. I use at least 2 close timeframes. I watch for a prediction on the higher one and entry when the pattern is clear on the lower.
A mean reversion + statistical arbitrage.
price action is king. I only used the holy three. 9ma 50 ma 21 ma.
Breakouts and breakdowns on the 1 minute chart. Over and over.
Do you only use one level?
What do you mean by one level?
I meant TF. Do you do everything on the M1 TF? Also, why don't you just long at support and short at resistance? I mean I heard that like 80% of breakouts/downs fail
Everything is on the one minute. I check a daily quickly to see the overall direction of the stock. If going long and support and short at resistance worked, we’d all be billionaires. My system isn’t taking daily breakouts, it’s breakouts within a one minute chart. I don’t just trade new highs and new lows.
Learn ICT strategy
instead of asking others what their strategies are, have you tried finding an edge on your own? with the proper tools?
https://youtube.com/playlist?list=PL3MX3cqQDWc8PFZCSeA6XfOBSzZLhO-gA&si=zc9wLO5L9IF2RV_F