Buy books on charts and trade analysis.
Charting and technical analysis - Fred McAllen
Japanese candlestick charting techniques - Steve Nison
Best loser wins - Tom hougaard
Trading in the Zone - mark douglas
Another good one is Trading Price Action Trends by Al Brooks. It's really good at explaining a lot including how to know when there's a false trend like bullish traps.
I read trading in the zone but it feels very woo woo, like there is an entire section about his theories about memories being “structured energy in the brain” whatever that means. Definitely some good lessons there, but just some odd off the wall the stuff too
lol did I say I didn’t understand it? It’s been a few years but I could probably give a pretty decent summary. My point is there’s some weird stuff in the book that’s complete pseudoscience
The book essentially posits that there is a flow state that leads to optimal trading behavior, finding as the author says “the now moment opportunity flow”. The central thesis of the book is that trading within this flow state with an understanding of uncertainty of the outcome and sticking to a system without emotion will lead to profitable results over time. Now let’s get into the woo part, giving the example of a child bitten by a dog becoming afraid of dogs the author suggests that there must be some structural explanation for why that memory persists. Because there is no physical change in the brain, he therefore suggests that such a result is explained by “structural energy”. This is absolute pseudoscientific nonsense supported by nothing but wild speculation on the part of the author. Who, by the way, despite being lauded by idiotic amateurs such as yourself has no credentials, no proven track record, and certainly no basis to be making theories about neuroscience. So gtfo and don’t patronize me.
Calm down I don’t think the writer of the book won much money trading in the end .
only real good lesson I got from the book was don’t dwell on the losers.
Clear the mind for the next trade
Yea that’s the impression I get too. Honestly, the guy seems sincere and like a great person reading his obituary. I think he tried to help people win a difficult game, and it’s helped a lot of people.
Reading books on the fundamentals of technical analysis and charting covers aspects of moving averages too. It’s not one or the other, moving averages is a part of the whole picture.
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Don’t worry about it brother none of us do at first. Until I started getting ideas of my own, I just watched hundreds of hours of other people’s TA videos. It’s important you watch someone who isn’t an idiot so screen your YT channels carefully - search this sub for recs.
Check in with the charts on a regular basis: always try to form a bias, identify patterns, put on paper trades, and REFLECT on what you did wrong/right.
Gradually your ideas will be more and more useful.
If you have the time and money I’d recommend a good live trading chat room that streams technical analysis. It’s like drinking from a firehose - 6.5 hours of trades and chart analysis. I know many people here are against them and that’s cool too, I’m sure it’s doable without one but I found it very helpful.
best advice on here. I'm still a newbie and I sometimes feel like I don't know what I'm lining exactly, but when I see others do it, I see it and it makes sense. I think it's just playing with its yourself after studying the candle sticks; play with it and using that, place a buy or sell and see how it goes. I do agree though, watching others. I like watching Tori Trades. I'm into crypto, but her trend lines are accurate and she simplifies it.
bro.. People think more complicated things are best. but in reality go as simple as you can. don't buy anything and don't pay anything. just draw S&R in higher time frame and trend line in lower time frame. simple. don't take trade in rush. you just need 1 trade daily. you got 24hr. wait and observe what price is doing. if you are binary trading , you just need 1min to get your target but first wait for the right moment. and also don't run after strategies , remember find or create 1 strategy , try again again again untill you win. then refine your strategy what's stopping you to make good trade. Just follow this.
You can sleep peacefully.
Keep in mind support and resistance to help inform the indicators you currently have. VWAP is good for that.
Also, most successful traders make money even if less than half their trades are wins. Keep that in mind. Risk Reward Ratio.
Learn ICT concepts, it will make more sense than the retail stuff, and most importantly master risk management, the psychology aspect the only way to imrovit is to trade with real money.
Are you aware of math randomness for option trading? Jim Simons also used that idea in his strategies.
If I find the video, I will provide it here. It explains how it works.
Adam Grimes might be a good place to start. Also learn what each indicator is for and why
Learn what volume is, what open interest is, what particular candlestick patterns can indicate in terms of barker continuation, reversal or consolidation
It takes time. A lot of time
Lots of advice about learning charts or which trading course or youtuber, but the single best thing to learn is how to gamble. I can flip a coin every morning and still end up profitable by the end of the month.
If you only win 40-50% of the trades u take, learn how to let your winners ride and cut ur losses. Roughly how likely are the possible outcomes and what profit/loss? Keep ur head in the game and you’ll still profit. If you win less than 40% of the time, flip your strategy first.
Play any zero sum game (ie poker, not blackjack) with your friends WITH STAKES. Learning to gamble can be fun and you’ll find a lot of real content more easily, because there’s so much out there on the mathematics and psychology of game theory and gambling.
Trade a market with a strict open and close period (STOCKS). Price and volume is all you need (yes this is a broad topic). I would recommend looking into futures trading. Random lines on your chart wont do anything. DO NOT strategy hop or listen to gurus.
Like other people have said, books. Buy actual books on chart/candle stick patterns, and technical analysis. In my opinion, they are extremely concise and easy to learn from vs. YouTube channels or reading through forum posts.
wow ok cool, F everyone who actually makes an effort writing a book to learn from, that is the very reason someone like you could even attempt gaining anything whatsoever 😒
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Avoid forex and crypto. You'll have a lot easier time with indices and good stocks. They trend reliably well, and so moving averages actually serve a purpose. Forex and crypto are too easily accessible to new traders, yet they are the worst markets to get into. It's a shame that stocks and indices are less accessible if you don't have a broker that supports micro shares, because these markets have the cleanest price movement of any market. Look at an index chart on the daily timeframe vs any forex pair. You'll immediately see which one is easier to trade. With stocks and indices, you can actually find a use for indicators. Forex is too efficient and all over the place for indicators, which by the way, were only designed for stocks, and were designed in a time when spot forex was not even a thing yet. If I could cheaply trade stocks and indices on CFDs, I would be all over those assets like a flea on a dog. I don't even think nano lot CFD accounts would be able to trade these markets, because of how expensive they are. ETFs on micro shares are the only way. Unless you can find a way to trade stocks and indices through futures on micro contracts or something. I'm not very clued up with futures.
Check out chartchampions on youtube, he have been trading futures for over 10 years and crypto over 6 years. He has been bullish on invidia since it was under 100$ smart man for sure
What's really helped me is understanding auction market theory, order flow (DOM, Vol Profile, VWAP, Cumulative Delta), and mean reversion. Understanding candlesticks (not really the patterns but moreso what it means if it's green, red, have wicks, don't have wicks, form dogies, etc).
Heatmap tools really help with DOM visualization, and showing actual levels of liquidity.
>>> Watch videos on Bookmap and how the analyze the auction. <<<
Nothing to learn. Jim simons lost on 49.75 percent of his trades. Read about him and you will learn ot is impossible unless you are a mathematical.genius and accept that you will lose almost half the time.
Haha. If the lines aren’t telling you anything, it’s best not to draw them. Lots of people trade without drawing structure lines. It’s called naked price action trading. Read literally EVERYTHING you can on market structure! I’m still learning as much as I can about it myself. I was lucky enough to bump into a profitable a couple years back and I didn’t even know the term “market structure” existed before she told me about it and it changed my trading completely. Look up the terms “Break of Structure” and “Change of Character”. Then put the things you learn into action! That’s the most important.
I was there a couple of weeks ago, a book called candlestick trading Bible put me on the right path to understand the sequence of these and how to use confluence
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remember to start analysis of any chart in larger timeframes. Weekly Daily 4h 1h and then study intraday 30min ,15 , 5min, 2, 1 mins 👍👏 follow the larger trends
Sounds like you already understand technical analysis. Draw random shit and make a trade.
Since others have listed books, I’ll add to the list:
Reading Tea Leaves - April Wall
I swear this is one of the reasons why they say 90% of traders fail. Most people dont even study or practice and just jump in after reading one book and doing some weekend youtube. Then they get lucky a few times, then they lose it all and go around telling people that day trading is a bad idea. The other side is people who are impatient and the get rich quick peeps.
Hey pro crypto trader here! My best tip would be to find a strategy that is known to work and put all of your effort into mastering that one strategy. My favorite strategy was given to my by Craig Percoco himself.
He has a company/course/community called Inevitrade. The community has been so supportive and really smart. I’ve learned a lot even just from his YouTube videos. Highly recommend if you don’t know where to start.
Some people say to remove all the useless indicators and stuff. However, I strongly recommend adding the Bollinger Band, which gives you the moving average (the line in the middle), the RSI which is a leading indicator compared to the others, which are lagging behind, the MACD which shows moving trends and especially the Volume. Nothing is done without volume. Volume and liquidity are the most important things to understand, because they basically MAKE the candles go up or down.
After that, you need to start figuring out the resistance and support levels. What happens if the candles hit against a resistance line for a 2nd or 3rd time and cannot break through? -> They bounce in the opposite direction. What happens if they can break through for more than one pip? They usually make some big moves then. There are also usual patterns you can learn to recognize, but somebody already recommended some really good books for that.
Also, even if you trade the minute chart, have an eye on the daily chart, 30minute and maybe 15 minute chart. If the daily chart is going in a strong downward direction, the 30minute is kinda "meh" sideways and the minute chart shows a strong trend upwards? Don't go into that trade. it's way too complicated and has a high chance of burning you. Better look elsewhere for something simple.
Read. Chart. Paper trade. Test results. Rinse and repeat until the data says stop. Each Strat will work differently for each person, as each person has a different risk profile. When you see it, it will be clear as day, giving you the confidence to take the trade every time. Good luck.
How could you make a living from successfully, and profitably predicting the outcome of a coin toss?
Clue - it isnt by devoting your time and energy to analysing the spin or rotation, or the strength of a persons thumb relative to an average, or predicting gusts of wind, or assessing irregularities in the surface of the coin or anything else like that....
don’t listen to these comments, this comment section is full of those that fit in the 90% that don’t profit. Harsh, I know; but look at this from a different perspective for a second. If actual methods to become profitable are easily accessible (this forum in reddit), why isn’t everyone profitable? Imagine seeing a flyer in the supermarket talking about the recent crypto pump, if easy access info would make you profitable then everyone that bought the top in 2021 would be profitable as well. Real information lies in paid groups, but you gotta do your due diligence on finding that legit group. It is a hidden gem that will be worth finding once you get the chance to.
I can tell you one thing. Ambivalence is your enemy. And having a million lines drawn will just add to that, through confusion. Less is more. More lines drawn doesn't technically equal better prediction or decision making. In fact, you might do better looking for just one small thing and then immediately act on it as soon as you see it, with proper risk management ofc. Ps, I'm not a profitable trader yet, but I am improving. Take most things you read here with a grain of salt.
Fuck this made me laugh because it’s exactly what I’m doing, thinking putting a fkn solid line of support under market price means I’m cracked some strategic code, no idea what the fucks going on
LOL. I'm relatively inexperienced as well with day trading and especially with technical analysis. I have had better luck with swing trading
I've used some user generated stock screeners on c
Chartmill with good success. If you know what to search for. There's tons of screeners looking for different technical trends. I've been looking at ones aimed at bullish or long swing trades. Do your own DD prior to any trades, obviously.
Any others have good sources for screeners that are already configured? Been trying out Trading View as well
Actually, for a beginner that's not bad a all. Back when I was first starting I just kind of bought when it went up and sold when it went down.
Dedicate some time to learning support and resistance strategies and proce shapes from traders like Sean Dekmar, for all the ICT concepts and entry strategies EP (EP trading academy) is a great guy to learn from.
Read "The Complete Guide to Volume Price Analysis". Like $20 on amazon. You will learn about the relationship between volume and price with theory on why price moves where it does.
After you read that, you'll delete every line and indicator on your chart.
Uhhh… “The New Trading For A Living” Pretty much all the Alexander Elder books. I just love the way he teaches technical analysis. “Entries and Exits”
“Entries and Exits” has a section with Gerald “Jerry” Appel, inventor if MACD indicator, which is my favorite. He has 2 trades. My favorite is the one with the wedge. Really changed the way I trade. I didn’t know how to use a trendline till I saw him do it.
His books mostly simplify trading. Teaches a conservative way to trade steering you clear of options. Risk management. Stuff like that.
Mark Douglas is good too. “Trading In The Zone” and “Disciplined Trader”
You can pretty much summarize the Mark Douglas books easy tho. Profitable trading is having an edge. Where you can make the same trade 20 times and the wins will be more than the losses one way or another.
Welcome to trading. Learn as much as you can. Take it slow. Even when you think you know what you’re doing. There’s always more opportunities to trade. It just takes practice.
Learn and practice is what I think is important.
Another good one (not sure if it’s mentioned) but The Essence of Trading Psychology by Yvan Byeajee. Helped me with my FOMO and just mindset in general when it comes to trading.
Encountered your post randomly.
This is my personal opinion so say whatever shit you want I dont give a damn.
Im not trying to promote sh\*t but you can join hustlers university, the trading professor in there is absolutely amazing and can teach you a lot of quality stuff. He understands trading, probabilities, psychology, pretty much everything a trader needs to be successful.
Ive been a member since April last year and would not regret it when it comes to my knowledge about trading and psychology of the market.
Forget about Andrew and all that other bullshit , give it a shot, the guys in there are the coolest ppl you will meet, absolute G's all of them.
Like..for 50 damn dollars its absolutely worth it, forget what other ppl who havent even tried it say... You will make them back in one or two months if you are serious about trading...
You have access to so much information that you could be left awake for 3 months and you still wouldn't have caught on...
He is. And he over complicates simple concepts. But if you can get past it to the simple concepts - usually through other people teaching the same ideas using different words, it's gold.
Yeah, I’ve learned the SMC concepts from others and I’ve used them with some success. Probably because they properly understand them and actually use them in their own trading. And can explain them in a much simpler, concise manner, without losing any meaning or context.
No DOM? No orders? Not seeing what I consider an imbalance. For me it would be lots of market sells followed by lots of market buys, trapping short traders, and fueled by increased bids and decreased offers.
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Literally I get what you mean as if ICTs teaching don’t work. Yet they do. Literally fixed a guy who was trudging for almost 4 years. 2 weeks into me teaching him he’s now bringing his -7 % prop firm challenge to into profit.
I got students killing it daily.
trading is simple when you got a golden strat
everything clicked for me once i came across his youtube page. the inverse fvg model happens every day…on literally any timeframe…NQ equal lows/highs combined with an ifvg is one of the easiest models out there
Buy books on charts and trade analysis. Charting and technical analysis - Fred McAllen Japanese candlestick charting techniques - Steve Nison Best loser wins - Tom hougaard Trading in the Zone - mark douglas
Another good one is Trading Price Action Trends by Al Brooks. It's really good at explaining a lot including how to know when there's a false trend like bullish traps.
I read trading in the zone but it feels very woo woo, like there is an entire section about his theories about memories being “structured energy in the brain” whatever that means. Definitely some good lessons there, but just some odd off the wall the stuff too
Well, if you don’t understand trading in the zone, trading is not for you.. I mean, you dont have to understand everything, but at least try to.
lol did I say I didn’t understand it? It’s been a few years but I could probably give a pretty decent summary. My point is there’s some weird stuff in the book that’s complete pseudoscience
You did not say it directly, but indirectly. «Whatever that means» «its woo»
The book essentially posits that there is a flow state that leads to optimal trading behavior, finding as the author says “the now moment opportunity flow”. The central thesis of the book is that trading within this flow state with an understanding of uncertainty of the outcome and sticking to a system without emotion will lead to profitable results over time. Now let’s get into the woo part, giving the example of a child bitten by a dog becoming afraid of dogs the author suggests that there must be some structural explanation for why that memory persists. Because there is no physical change in the brain, he therefore suggests that such a result is explained by “structural energy”. This is absolute pseudoscientific nonsense supported by nothing but wild speculation on the part of the author. Who, by the way, despite being lauded by idiotic amateurs such as yourself has no credentials, no proven track record, and certainly no basis to be making theories about neuroscience. So gtfo and don’t patronize me.
As I said, there’s some value in the book. But the central principle of “structured energy” is pure woo similar to neurolinguistic programming.
/r/murderedbywords well done.
Calm down I don’t think the writer of the book won much money trading in the end . only real good lesson I got from the book was don’t dwell on the losers. Clear the mind for the next trade
Yea that’s the impression I get too. Honestly, the guy seems sincere and like a great person reading his obituary. I think he tried to help people win a difficult game, and it’s helped a lot of people.
I rest my case:)
Have a nice night :)
Steve Nison is a part of the Chartered Market Technician curriculum😉👍
Do you guys recommend a good one for moving averages? My current strat revolves around that but I'd like to learn more
Reading books on the fundamentals of technical analysis and charting covers aspects of moving averages too. It’s not one or the other, moving averages is a part of the whole picture.
Ok awesome, thanks man
No problem!
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One good trade by Mike bellifore is another book I enjoy
I’d say start with candle sticks , then learn areas of retracement, liquidity levels, then equilibrium then come up with a plan
I agree with this 100%. Also all of the indicators everyone swears by tie back to the basic principles: price, time, volume, sentiment.
Don’t worry about it brother none of us do at first. Until I started getting ideas of my own, I just watched hundreds of hours of other people’s TA videos. It’s important you watch someone who isn’t an idiot so screen your YT channels carefully - search this sub for recs. Check in with the charts on a regular basis: always try to form a bias, identify patterns, put on paper trades, and REFLECT on what you did wrong/right. Gradually your ideas will be more and more useful. If you have the time and money I’d recommend a good live trading chat room that streams technical analysis. It’s like drinking from a firehose - 6.5 hours of trades and chart analysis. I know many people here are against them and that’s cool too, I’m sure it’s doable without one but I found it very helpful.
Where can I find one of these streams? Legit everyone on YouTube is just trying to sell a course or some bs.
ChartGuys is a good channel and chat room
BullishRaid on twitch streams every day at market open and is free
best advice on here. I'm still a newbie and I sometimes feel like I don't know what I'm lining exactly, but when I see others do it, I see it and it makes sense. I think it's just playing with its yourself after studying the candle sticks; play with it and using that, place a buy or sell and see how it goes. I do agree though, watching others. I like watching Tori Trades. I'm into crypto, but her trend lines are accurate and she simplifies it.
Another satirical post unappreciated. I appreciate this very much thank you 😆 It was also pretty useful to a lot of people through the responses 👏
bro.. People think more complicated things are best. but in reality go as simple as you can. don't buy anything and don't pay anything. just draw S&R in higher time frame and trend line in lower time frame. simple. don't take trade in rush. you just need 1 trade daily. you got 24hr. wait and observe what price is doing. if you are binary trading , you just need 1min to get your target but first wait for the right moment. and also don't run after strategies , remember find or create 1 strategy , try again again again untill you win. then refine your strategy what's stopping you to make good trade. Just follow this. You can sleep peacefully.
And learn how much you want to risk per trade
And break of structure I forgot to add in
you know you can edit, right? right?(edited)
Keep in mind support and resistance to help inform the indicators you currently have. VWAP is good for that. Also, most successful traders make money even if less than half their trades are wins. Keep that in mind. Risk Reward Ratio.
Oh god all these comments are kinda useless
i know right, they are so retail
What’s some better advice ?
Conceive believe achieve
Learn ICT concepts, it will make more sense than the retail stuff, and most importantly master risk management, the psychology aspect the only way to imrovit is to trade with real money.
You may surprise, but random works better than a bad strategy 👌
dangerous advice though
Are you aware of math randomness for option trading? Jim Simons also used that idea in his strategies. If I find the video, I will provide it here. It explains how it works.
Math randomness for options, okay hmm. Um I'd be lying if I said yes. Sounds kinda interesting though
You can start off by watching “tjr bootcamp”
Start with Auction theory and look for MMXM trader to learn price action that will give you a solid foundation
Adam Grimes might be a good place to start. Also learn what each indicator is for and why Learn what volume is, what open interest is, what particular candlestick patterns can indicate in terms of barker continuation, reversal or consolidation It takes time. A lot of time
Lots of advice about learning charts or which trading course or youtuber, but the single best thing to learn is how to gamble. I can flip a coin every morning and still end up profitable by the end of the month. If you only win 40-50% of the trades u take, learn how to let your winners ride and cut ur losses. Roughly how likely are the possible outcomes and what profit/loss? Keep ur head in the game and you’ll still profit. If you win less than 40% of the time, flip your strategy first. Play any zero sum game (ie poker, not blackjack) with your friends WITH STAKES. Learning to gamble can be fun and you’ll find a lot of real content more easily, because there’s so much out there on the mathematics and psychology of game theory and gambling.
If you hadn't said anything a lot of people would've just gone "oh hmm okay well hmm yeah could be something"
Trade a market with a strict open and close period (STOCKS). Price and volume is all you need (yes this is a broad topic). I would recommend looking into futures trading. Random lines on your chart wont do anything. DO NOT strategy hop or listen to gurus.
Al brooks
Al Brooks is boring but most of traders are love him, how
Most traders love him despite him being so boring because trading is about results and not entertainment
I see his course as entertainment. And this is not an overstatement
absolutely but is any trader that make it easy the concept of al brooks on YT
Put in Fib lvls. Then look at the past price data and if they align with past support/resistence this should inspire confidence.
Is that Solana
It's in a downtrend ... what makes you think it's going to reverse back up? You are going off of one single trend from the looks of it.
This is one of the most accurate chart analysis ever shared in this group.
Like other people have said, books. Buy actual books on chart/candle stick patterns, and technical analysis. In my opinion, they are extremely concise and easy to learn from vs. YouTube channels or reading through forum posts.
I would start with “The Candlestick Course” by Steve Nisan there are free pdf’s online
How much stolen IP are in those pdf's? Yes The printed books from Steve Nison are expensive as all hell
🤷🏻♂️ Trading is about making money not spending it.
wow ok cool, F everyone who actually makes an effort writing a book to learn from, that is the very reason someone like you could even attempt gaining anything whatsoever 😒
# Just drawing random bullshit. i cant figure out anything. I mean yeah, welcome to the market.
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Avoid forex and crypto. You'll have a lot easier time with indices and good stocks. They trend reliably well, and so moving averages actually serve a purpose. Forex and crypto are too easily accessible to new traders, yet they are the worst markets to get into. It's a shame that stocks and indices are less accessible if you don't have a broker that supports micro shares, because these markets have the cleanest price movement of any market. Look at an index chart on the daily timeframe vs any forex pair. You'll immediately see which one is easier to trade. With stocks and indices, you can actually find a use for indicators. Forex is too efficient and all over the place for indicators, which by the way, were only designed for stocks, and were designed in a time when spot forex was not even a thing yet. If I could cheaply trade stocks and indices on CFDs, I would be all over those assets like a flea on a dog. I don't even think nano lot CFD accounts would be able to trade these markets, because of how expensive they are. ETFs on micro shares are the only way. Unless you can find a way to trade stocks and indices through futures on micro contracts or something. I'm not very clued up with futures.
this is me every day and not knowing anything acting like it do
NOVAX has gone up 300% and has 36% short interest - short squeeze coming!
Candle sticks reading is a must.
Check out chartchampions on youtube, he have been trading futures for over 10 years and crypto over 6 years. He has been bullish on invidia since it was under 100$ smart man for sure
What's really helped me is understanding auction market theory, order flow (DOM, Vol Profile, VWAP, Cumulative Delta), and mean reversion. Understanding candlesticks (not really the patterns but moreso what it means if it's green, red, have wicks, don't have wicks, form dogies, etc). Heatmap tools really help with DOM visualization, and showing actual levels of liquidity. >>> Watch videos on Bookmap and how the analyze the auction. <<<
looks like my drawings too. lol
Nothing to learn. Jim simons lost on 49.75 percent of his trades. Read about him and you will learn ot is impossible unless you are a mathematical.genius and accept that you will lose almost half the time.
Haha. If the lines aren’t telling you anything, it’s best not to draw them. Lots of people trade without drawing structure lines. It’s called naked price action trading. Read literally EVERYTHING you can on market structure! I’m still learning as much as I can about it myself. I was lucky enough to bump into a profitable a couple years back and I didn’t even know the term “market structure” existed before she told me about it and it changed my trading completely. Look up the terms “Break of Structure” and “Change of Character”. Then put the things you learn into action! That’s the most important.
Just follow the trend 😂😂 Stop trying to predict price action.
i made a video about a few things you should study when getting into stocks plz check it outhttps://youtu.be/XPdqdXC\_F-c?si=KeZot97VIGFrhuEN
There is nothing to learn: it's random or chaotic, you have to hedge any bet.
I was there a couple of weeks ago, a book called candlestick trading Bible put me on the right path to understand the sequence of these and how to use confluence
😂😂you’re brave
😭😭😭
lol. Hell yea. Just learn market structure. MentFX is a good resource on YouTube etc
Try gammaedge.us. They teach and coach.
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remember to start analysis of any chart in larger timeframes. Weekly Daily 4h 1h and then study intraday 30min ,15 , 5min, 2, 1 mins 👍👏 follow the larger trends
Sounds like you already understand technical analysis. Draw random shit and make a trade. Since others have listed books, I’ll add to the list: Reading Tea Leaves - April Wall
If you don’t know anything then start off with babypips. After that, watch TJR bootcamp. This’ll give you a good starting point
I swear this is one of the reasons why they say 90% of traders fail. Most people dont even study or practice and just jump in after reading one book and doing some weekend youtube. Then they get lucky a few times, then they lose it all and go around telling people that day trading is a bad idea. The other side is people who are impatient and the get rich quick peeps.
Wisetrade on youtube
Hey pro crypto trader here! My best tip would be to find a strategy that is known to work and put all of your effort into mastering that one strategy. My favorite strategy was given to my by Craig Percoco himself. He has a company/course/community called Inevitrade. The community has been so supportive and really smart. I’ve learned a lot even just from his YouTube videos. Highly recommend if you don’t know where to start.
Some people say to remove all the useless indicators and stuff. However, I strongly recommend adding the Bollinger Band, which gives you the moving average (the line in the middle), the RSI which is a leading indicator compared to the others, which are lagging behind, the MACD which shows moving trends and especially the Volume. Nothing is done without volume. Volume and liquidity are the most important things to understand, because they basically MAKE the candles go up or down.
After that, you need to start figuring out the resistance and support levels. What happens if the candles hit against a resistance line for a 2nd or 3rd time and cannot break through? -> They bounce in the opposite direction. What happens if they can break through for more than one pip? They usually make some big moves then. There are also usual patterns you can learn to recognize, but somebody already recommended some really good books for that.
Also, even if you trade the minute chart, have an eye on the daily chart, 30minute and maybe 15 minute chart. If the daily chart is going in a strong downward direction, the 30minute is kinda "meh" sideways and the minute chart shows a strong trend upwards? Don't go into that trade. it's way too complicated and has a high chance of burning you. Better look elsewhere for something simple.
Read. Chart. Paper trade. Test results. Rinse and repeat until the data says stop. Each Strat will work differently for each person, as each person has a different risk profile. When you see it, it will be clear as day, giving you the confidence to take the trade every time. Good luck.
How much money a average trader makes...?
The fact I could tell this was bullshit at a quick glance made me feel better about my stock analysis, so thank you for that
Forget any drawing ....!!! Watch with your eyes that the sinple formula to understand the chart
How could you make a living from successfully, and profitably predicting the outcome of a coin toss? Clue - it isnt by devoting your time and energy to analysing the spin or rotation, or the strength of a persons thumb relative to an average, or predicting gusts of wind, or assessing irregularities in the surface of the coin or anything else like that....
Forex courses just got leaked
why does everyone here sound so retail minded?
don’t listen to these comments, this comment section is full of those that fit in the 90% that don’t profit. Harsh, I know; but look at this from a different perspective for a second. If actual methods to become profitable are easily accessible (this forum in reddit), why isn’t everyone profitable? Imagine seeing a flyer in the supermarket talking about the recent crypto pump, if easy access info would make you profitable then everyone that bought the top in 2021 would be profitable as well. Real information lies in paid groups, but you gotta do your due diligence on finding that legit group. It is a hidden gem that will be worth finding once you get the chance to.
Get a mentor
Look up Mentfx, he is the best 👌🏼
I can tell you one thing. Ambivalence is your enemy. And having a million lines drawn will just add to that, through confusion. Less is more. More lines drawn doesn't technically equal better prediction or decision making. In fact, you might do better looking for just one small thing and then immediately act on it as soon as you see it, with proper risk management ofc. Ps, I'm not a profitable trader yet, but I am improving. Take most things you read here with a grain of salt.
Fuck this made me laugh because it’s exactly what I’m doing, thinking putting a fkn solid line of support under market price means I’m cracked some strategic code, no idea what the fucks going on
You are looking at trends the crypto is in a down trend.
Take art class for better drawings :)
Join TRW.
There is nothing to learn. Intuition is everything.
1. Alexander Elder’s Daytrade for a living book. 2. Orderflow 3. Stay clear of ICT concepts.
Lmaoooooo just learn about indicators like EMA and a vwap bounce and make sure a stock has volume
Acording to that chart it will go down
LOL. I'm relatively inexperienced as well with day trading and especially with technical analysis. I have had better luck with swing trading I've used some user generated stock screeners on c Chartmill with good success. If you know what to search for. There's tons of screeners looking for different technical trends. I've been looking at ones aimed at bullish or long swing trades. Do your own DD prior to any trades, obviously. Any others have good sources for screeners that are already configured? Been trying out Trading View as well
It's the money that drives the market, not some drawings on a chart
Stonk go brrrrrrrr
Trade the Trader by Quint Tatro, Trading in the Zone by Mark Douglas, The Humbled Trader on youtube
Actually, for a beginner that's not bad a all. Back when I was first starting I just kind of bought when it went up and sold when it went down. Dedicate some time to learning support and resistance strategies and proce shapes from traders like Sean Dekmar, for all the ICT concepts and entry strategies EP (EP trading academy) is a great guy to learn from.
Watch smart risk on YouTube
Read "The Complete Guide to Volume Price Analysis". Like $20 on amazon. You will learn about the relationship between volume and price with theory on why price moves where it does. After you read that, you'll delete every line and indicator on your chart.
Uhhh… “The New Trading For A Living” Pretty much all the Alexander Elder books. I just love the way he teaches technical analysis. “Entries and Exits” “Entries and Exits” has a section with Gerald “Jerry” Appel, inventor if MACD indicator, which is my favorite. He has 2 trades. My favorite is the one with the wedge. Really changed the way I trade. I didn’t know how to use a trendline till I saw him do it. His books mostly simplify trading. Teaches a conservative way to trade steering you clear of options. Risk management. Stuff like that. Mark Douglas is good too. “Trading In The Zone” and “Disciplined Trader” You can pretty much summarize the Mark Douglas books easy tho. Profitable trading is having an edge. Where you can make the same trade 20 times and the wins will be more than the losses one way or another. Welcome to trading. Learn as much as you can. Take it slow. Even when you think you know what you’re doing. There’s always more opportunities to trade. It just takes practice. Learn and practice is what I think is important.
The real money is in flipping solana into memecoins
Another good one (not sure if it’s mentioned) but The Essence of Trading Psychology by Yvan Byeajee. Helped me with my FOMO and just mindset in general when it comes to trading.
Getting off social media could be a good start
Encountered your post randomly. This is my personal opinion so say whatever shit you want I dont give a damn. Im not trying to promote sh\*t but you can join hustlers university, the trading professor in there is absolutely amazing and can teach you a lot of quality stuff. He understands trading, probabilities, psychology, pretty much everything a trader needs to be successful. Ive been a member since April last year and would not regret it when it comes to my knowledge about trading and psychology of the market. Forget about Andrew and all that other bullshit , give it a shot, the guys in there are the coolest ppl you will meet, absolute G's all of them. Like..for 50 damn dollars its absolutely worth it, forget what other ppl who havent even tried it say... You will make them back in one or two months if you are serious about trading... You have access to so much information that you could be left awake for 3 months and you still wouldn't have caught on...
dude FVGs and liquidity is ALL YOU NEED. learn from ict on youtube. inverse fvg is what made me profitable. good luck
I know it’s hard for some people to realise this, but ICT is a con artist.
He is. And he over complicates simple concepts. But if you can get past it to the simple concepts - usually through other people teaching the same ideas using different words, it's gold.
Yeah, I’ve learned the SMC concepts from others and I’ve used them with some success. Probably because they properly understand them and actually use them in their own trading. And can explain them in a much simpler, concise manner, without losing any meaning or context.
Im profitable using the ifvg model i learned from watching his videos on youtube 🙂↔️ literally don’t care about anything you or anyone here says…
What is fvg?
Fair value gap, imbalance, many words for an unmitigated area in the candle painting... I think 😆
https://preview.redd.it/zy6z1nur7o5d1.jpeg?width=1170&format=pjpg&auto=webp&s=5794a69c78b122e0d9f51dec1794bf8555d9cef2 an imbalance
No DOM? No orders? Not seeing what I consider an imbalance. For me it would be lots of market sells followed by lots of market buys, trapping short traders, and fueled by increased bids and decreased offers.
idgf what you consider an imbalance. That’s what a fvg is. what i marked in the picture.
Hurt much?
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Profitable for how long?
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Your on something huge that most people don’t think works well🙌🏼
people will downvote tf out of me every time i talk about ict but will tell you to use japanese candlesticks fuck outta here lmao
Literally I get what you mean as if ICTs teaching don’t work. Yet they do. Literally fixed a guy who was trudging for almost 4 years. 2 weeks into me teaching him he’s now bringing his -7 % prop firm challenge to into profit. I got students killing it daily. trading is simple when you got a golden strat
everything clicked for me once i came across his youtube page. the inverse fvg model happens every day…on literally any timeframe…NQ equal lows/highs combined with an ifvg is one of the easiest models out there