TepidFanny11

Daytraders of Grapevine, what are the biggest problems you face?

TepidFanny11 · 2024-06-28T22:22:42.872473+05:30

- is it the identification of the opportunities/stocks to trade? - Is it the difficulty in knowing when to enter & when to exit? - Is it the inability to really understand the market signals? - Is it the inability to create algo based strategies to Trade on? - Also, it’s possible. Please share some tools that are very helpful for you. Thanks ! 🙏

is it the identification of the opportunities/stocks to trade?
Is it the difficulty in knowing when to enter & when to exit?
Is it the inability to really understand the market signals?
Is it the inability to create algo based strategies to Trade on?
Also, it’s possible. Please share some tools that are very helpful for you. Thanks ! 🙏

4mo ago

steppenwolf

Stealth4mo

I used to do it before but now i have completely shifted to Higher TFs.

My template was- -Stock must be around 52 week high or life time high. Trading above 50 DMA. -I used to use the Opening range breakout or pullback strategy to enter. Combining it with Vwap. Incorporating Vwap is very powerful.

For stock selection you can use NR7 or NR4.
Most emphasis should be on price and volume activity and not on indicators. Actually don't use any indicators if possible.

One tip i would like to give. Look at the Advance decline ratio before trading. If you wanna go long ratio must be on the higher side and vice versa. Advance decline ratio would just increase the probability significantly.

TepidFanny11

Freelancer4mo

Hi thanks for sharing the details. Why did you shift to Higher timeframes? Cause you can’t give time to day trade due to your job/other responsibilities or you were not able to make profit in day trade ?

steppenwolf

Stealth4mo

@TepidFanny11

Lower Tfs typically 5min-15min can have a lot of noise. These noises get filtered out in 1hr daily weekly TF.

You have to decide what you want out of trading. Income generation - Get into a shorter form of trading.
Wealth creation - Longer form/Higher TF.

I let the short term player fight it out on lower TF. If something is looking ugly on 5-15 min, it might just be a blip on daily TF.

Account for burnout in just a few years if you are day trading.

P.S. Day trading are crumbs, positional trading (longer form , TF is combination of daily/weekly) is the whole pie. I chose the pie.

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Curated from across

BrutallyhonestStealth9mo

Any algorithm traders here?

Can you help with tools you use for alto trading and your strategies?

Tyler_durdenStealth3mo

I want to make my career in Stock Market Trading. Please help 🙏

I have been wanting to go for stock market trading full time since last 7 years but I was constantly said no and scolded not to pursue it, mainly because I had no money back then to fund my account. I even lost around 40k but I know this...