beginner prop strategies

[WyckoffTrader]

let me save your years of frustration......avoid MM and stocks in general....futures and commodities are more scalable and you do not need the grind of equity to burn you out.

 

[vingbel]

Quote from WyckoffTrader:

let me save your years of frustration......avoid MM and stocks in general....futures and commodities are more scalable and you do not need the grind of equity to burn you out.

Why do you prefer futures and commodities? Also, what Wyckoff methods do you use when scalping futures?

 

[JCVR]

Quote from vingbel:

Do you try to determine a trend by HH and LH? What periods do you find useful for MAs?

Just so I'm not only asking questions, I tend to use two HH with HL before saying it's an uptrend, then enter on the pullback (not below the trend). I haven't been using MAs for a while, which is why I ask what periods you tend to use.

I've also S/R lines but I don't have a set formula for how far back to go with thos S/R line when entering and exiting for daytrading.

BTW, someone mentioned trading on dark pool liquidity. How does that work?

And is it true that prop traders don't use TA patterns at all to trade? Many of the daytraders I know use TA patterns exclusively. What to prop traders use?

I keep it simple and just look at a chart to determine trend, i don't really use any indicators. MA's are a self fulfilling prophecy so any of the popular ones bear watching because chances are there will be a quick trade there, even if the trend just stops momentarily and then continues.

I'm not sure how people trade dark pool liquidity. I used to use dark pools to get big orders filled when I worked at a fund....thats all I thought they were good for. You could get 100k+ shares of an illiquid stock done in a flash, there are some sharks in those dark pools.