I know we all know the popular ones, Bollinger Band, MACD, RSI, EMA lines, ETC. But what would you say is one of the most underrated ones that barely get mentions? For me ADX for trend confirmation is GOD-SEND, but I rarely here people talk about it.

"Once I learned how to stop losing, I started LEARNING how to win" Not an exact quote by J. Livermore wrote something like that.

This is Grandpa. Trading is a reflection of your life. Are you disciplined in your life, practice good habits? Good 👍 it will carry over into your trading.

It is called STOP LOSS, not STOP WIN for a reason. Use it.

Be merciless in cutting your losses. Fast kill. Set up an alert for a reversal or continuation of TREND. Move on.

Move on for a better trade.

I have a lot more to share but let's get this conversation going.

QUESTION:

For those of you who don't use a HARD STOP, why? I lose more with mental stops. Now, I just admit that I mis-read Price Action, get out, and keep an eye on a better re-entry.

What are the benefits of mental vs hard stops for you? Open minded, everyone has something that works for them.

Stay green, not red ♥️

Love you all,

Grandpa.

P.S. Cash is a position.

EDIT: Googled and found the exact quote from

J. Livermore:

"There is nothing like losing all you have in the world for teaching you what not to do. And when you know what not to do in order not to lose money, you begin to learn what to do in order to win."

I came very close to losing it ALL.

here are some entry short and some buys. both were greens. Decided to try out crypto trading with my strategy of m.a s, macd and scoping the time zones. my strategy seems to work just about with anything to trade as long as it looks right iether long trade or a very short lasting trade. from meme coins to alts.

So I am a relative new trader. I am trading crypto right now but looking to learn more about trading in general so I want to Learn from everyone. So I was wondering what stop loss, take profit and trailing stop loss percentages everyone was using. I get this depends on your trading strategy so a bit of context would be really helpfull as well! Edit. Trailing stop lossen are something I would like to know to. Thank you!

I've been day trading for roughly 3 months and learned and loaded along the way as the best of us do. Obviously one of the best things to learn is managing loss. That goes for locking In profit as well as a correct stop loss.

I have seen some traders use trailing Stop loss as a way to lock in profit but to also keep out the red. What is your recommendation on trailing stops for scalp / day trading and Is there an optimal % stop to prevent getting stopped out early?

I'm asking this question mainly to people who make their decisions based on the daily or hourly chart.

I'm asking the question in terms of profit and amount of setups found.

Is level two view of the market a requirement as a successful day trader or what is a known way to compensate for a lack thereof?

Hello,

I've been in and out of trading over the past few years mainly just learning and watching markets. I've traded demo for the past month on GBP/USD CFDs and hovered around break even using a strategy I have made myself. my current issue is, I want to be using volume quite heavily in my trading and from my understanding forex and a lot of CFDs only get their volume from the broker and not a centralized market making it not an accurate reading.

I am into shorter term trading (scalping/day trading mainly 3m/15m/1H).

I'm looking at switching and learning to trade something else that has a centralized market or volume showing ALL transactions, potentially orderbooks, and in the long run the ability to trade with a funded account so I can borrow capital until I have enough to fund my own account.

From my research I've seen that futures seem to be centralized, but im from the UK and no one seems to trade them here and the fees seem large (paying for tradovate or ninja trader and paying for data ect). Does anyone here from the UK trade futures and would you be able to tell me about it?

Ive looked into gold and other commodities but it seems that most brokers that let you trade gold are as a CFD and once again the broker provides the volume, not a central market. is there a way to trade them in this way?

Finally, Ive looked into stocks and indicies but its not really my area of interest, and in the UK leverage is low (1:5 i think) which may be an issue as my acocunt will be small. Does anyone have an opinion on this and recommend and if so why?

if anyone from the UK also has any other suggestions on how to trade from a centralized market using volume and ideally orderbooks (less important for me) or any other instruments or just any advice Id be very grateful :)

Thankyou for your time :)

When and how are you entering trades to avoid getting your stop hunted?

For example, most traders understand when they buy consolidations, to try to get in at a bottom when buying and at a top when selling.

Some traders have an easier time using limit orders rather than market orders so to get the ideal price.

Some traders make sure to not take too much liquidity and trade smaller.

Let me know what yall think.

I’ve spent my Sunday studying charts, cleaning up my watchlists especially for small caps and penny stocks and striking off companies that have no real intrinsic value.

I’m looking for recommendations for your go to stocks to amp up my watch list - decent volatility but not boom and bust. Please share! And yes… I know that there are also many posters are similar, but I’m interested in this community latest tips.

This might be in the wiki but I didn’t see it after a quick look.

Just wondering how ya’ll paper trade. I know its’ supposed to simulate the live trading environment 1:1, which means paying for the live market data and execution.

I’m thinking of paying for dastrader and hooking up my IB Trader Workstation. It’s $120/month. Are there other potential setups out there?

These past couple of weeks have been some of my best trading in a long time. And I contribute 90% of it to cutting out bad trades. I trade NQ.

This is the setup that has blown so many accounts for me: Prices is 3-5 pts from a support or a resistance. I look around, don’t see any reason for price to reverse until it gets to the support or resistance. I enter in the direction of the S/R, set my tp at that level and dont even bother placing a sl cuz why would i? free money right? and then, boom biggest reversal candle in the world appears, and i’m down 300 before I can blink.

Stopped doing that guys. I know some of ya’ll are doing it too. It’s not in your playbook and it’s not worth it. I cut it out and saw my win rate jump 15%

It’s the equivalent of attempting to cheat on ur loyal 10/10 girl with a 3, and her screaming at you in public that your ugly and she would never date you, embarrassing you and making you look dumb. Dont do this. Wait for the 10/10 that you’ve would treat you right and tell u they love you and will be loyal.

The first girl is that trash C- setup that ur treating like a 10. Ur trading plan is the 10/10. She’ll do you right.

That is all.

Are full-time day traders using something like thinkorswim or are there other platforms you guys use?

Good morning. I'm wanting to test the Value Area 80% rule/theory on futures (NQ) I'll be using this for the futures market but since futures basically trade 24/7...what would be best open to use for this? Gut tells me to use 930am EST. But my gut lies to me daily haha.

The rule states (theoretically of course):

IF:

1) At the market open (what time ??) and price is trading OUTSIDE our value high or value low

AND

2) After two 30 minute periods the price has traded into our Value Area

THEN:

1) There's an 80% chance the market will rotate all the way to the opposite side for the remainder of the day.

For Example:

ABC's fair value high and low (which simply means that 70% of volume from yesterday's trading session traded between these two values) was traded between VAH 18100 and VAL 17800. The market opened today (time??) and it was ticking ABOVE the VAH. After two consecutive 30 minute trading periods, the price was trading in the value area at 18000. This occurred for the first 30 minute period AND the second 30 minute period. This satisfies our rule/theory setup and we now have an 80% chance today's price will continue downward and close at or below the Value Area Low (VAL). Hence (the market rotated from high to low). The opposite would be true if the market opened below our VAL then proceeds to trade consecutively within the value area for the next two 30 minute periods, we would now have an 80% chance the market will rotate and continue to trade at or above the Value Area High (VAH) for the day.

Has anyone found much success with this? My gut tells me we use 930am EST as market open even though futures trade 24/7.

Hi everyone,

This is my daily post for the insider transaction screener I set up, using SEC website data and historical performance data. I posted a guide in my profile! This strategy is where I buy these stocks at open to ride the buy side pressure wave following certain significant insider buys.

Friday's Recap:

Not going to lie, none of the stocks that came up on my alerts did well. I think it was an average of -2% on the day. I am going to use today as a good data point to look back and see how I could have prevented some of these losses. These life science stocks (industry code LSC on my screener) tend to be super volatile and can go either way.

Tomorrow's Screener Alerts:

Alerts for Tomorrow

I will note: PEGY has very very little historical data to back it up as far as significant insider transactions. I would classify this one as high risk.

The following table shows a summary for past insider trades of these stocks, and how the market reacted the next day. Past performance does not guarantee future results.

Alerts for Tomorrow

Good luck trading everyone, and as always post questions comments etc. I'm especially curious if I can switch up the format to be better? I'd like to make this super readable and easy, and make sure you can use it as a tool. (Not a financial advisor, not financial advice)

Macroeconomic Situation of Both Economies.
Key and leading macroeconomic indicators and their impact on each currency in the pair.

Japanese YEN (JPY):

https://preview.redd.it/qyl3dn1byy6d1.png?width=1792&format=png&auto=webp&s=d76c83959614cf6069d83c3ed29ea606455cd6af

• The Bank of Japan maintained its benchmark interest rate on Friday, while signaling potential reductions in its purchases of Japanese government bonds.
• As widely anticipated, the central bank left short-term rates unchanged, keeping them between 0% and 0.1% at the conclusion of its policy meeting.
• In its analysis, the Bank of Japan acknowledges that the country's economy has recovered moderately, though some weakness has been observed in certain areas.
  

U.S. Dollar (USD):

https://preview.redd.it/qyl3dn1byy6d1.png?width=1792&format=png&auto=webp&s=d76c83959614cf6069d83c3ed29ea606455cd6af

Powellhas indicated that if the economy remains strong and inflation persists, the Fed is prepared to maintain the current target range of rates for as long as appropriate. Conversely, if the labor market unexpectedly weakens or if inflation falls more rapidly than anticipated, the Fed is ready to respond.

CONCLUSION:

• JPY: BULLISH, USD: RANGE
• USDJPY: BEARISH

patreon SmartmassStrategy

I have been having consistent success trading options on Robinhood, and now I want something less clunky. I want hotkeys to scale out of positions. I want stop market orders. I want more hotkeys. Etc etc etc. I want liquid options markets and ease of importing tax info to TurboTax. I don't think I'll trade futures or forex if that matters. I'll be using a desktop computer, mobile is an afterthought.

TIA

I requested a $1500 payout on Saturday morning (the 15th) wondering how long it might take and if they process payouts on weekend days?

Hi guys! How are you all?

I would like to know if it’s really possible to make a profit out of day trading, because I was looking through this sub and saw a guy telling people he never saw anyone make money from it, only lose it

I want to start studying it but try and make sure I won’t be losing my time first, thanks in advance!

As stated in title. Does anyone use investing.com? Google searches shows it’s legit and among the top 3 trading news platforms. What have your experiences with this if you use it? I’ve been using the free version to just keep up with the news.

This setup pops up frequently off the open on the M1 for the stocks I watch: NVDA META TSLA.

The last month has had some nice winners. It keeps my mind occupied as well searching and waiting for it to setup.

Trading can be super complicated (Read "The Man Who Solved The Markets"), but it also offers a lot of simple, high probability setups if you look for them.

Do yall let your trades run over the weekend or do you close out your positions at the end of each week?

The broker I used doesn’t show enough candles anymore to be able to backtest enough since they switched to using trading view charts. Yeah I could use different instruments but would much prefer to just go far back on one chart and work my way forward.

TIA.

https://preview.redd.it/407h834q0z6d1.png?width=1080&format=png&auto=webp&s=c2e8b2a2053dc69212fbb227723d2e00adffba3e

what's an inside bar?:

an inside bar is a price action pattern in trading where the entire price range (high to low) of a bar (or candle) is contained within the range of the preceding bar. this pattern is identified when both the high and the low of a trading day are lower and higher, respectively, than those of the previous day.

what does this measure?

this report looks at the frequency and occurrence of inside bars on the daily timeframe.

inside bars only occur 11% of the time

how can I use this?

use this report to spot periods of consolidation and potential breakout opportunities. recognizing an inside bar can help in anticipating the next market move, allowing you to refine entries and exits based on the expected breakout of the range established by the inside bar and its previous.

if inside bars aren't likely, you can take a trade targeting the previous day's high or low.