I am kinda new and want to learn basics for short term trading

C

curiosity

I am not interested in day trading.
But I am interested in swing or positional trading.

I have an account with TD ameritrade.
I want clean chart with minimum indicators. I usually choose following
1. Volume /2. 21 EMA /3. RSI /4. ADX

Please suggest more if you think they are imp.

What is your opinion about indicators from Anna coulling and Wyckoff VSA package from tradeguider?
 
If you’re going to spend money on education take courses in macroeconomics, capital markets, and corporate finance.

Price is a lagging indicator and so what is more useful is to know why decision makers enter/exit positions in the first place, which will help you evaluate if a short term opportunity is available. E.g. short term reversal on a stock you estimate will have positive revisions —> good buy.
 
I don't use indicators. If I scalp, i usually use 400 tick chart or 1m-5m charts and i only draw trends to find the slope of the trend. So If I want to swing trade, i will use 1h-4h or daily chart.

I urge you not to trade yet. You need so much screen time. So basically open a chart in 1m and watch the price movements. Draw lines. Connect highs to lows and lows to highs. Try to see and understand what market does and what market tells you.

Usually you will start seeing things in 3-4 weeks. It's not enough to be profitable. Analysis is one thing, strategy is other. And psychology, risk management and etc. They are all going to make you a profitable trader and you need each of them to cook this.
 
[QUOTE="What is your opinion about indicators from Anna coulling and Wyckoff VSA package from tradeguider?[/QUOTE]

Too much "selling" you expertise. Buy the Wyckoff books for 20 dollars and read them. Then apply them in sim and start working on the other 90% of what makes a good trader, all the while still working on that method.

That "course" is like trying to learn one classic French dish. Sure you can make it but unless you have the fundamentals, it is a very narrow scope, and does not work for all meals, and certainly not enough to be a cook (trader), let a lone a chef (successful trader)
 
Something will work 1 day, so by the end of the day I'm making good $$$'s.

But the next day, epic fail, then I find what works, end of the day good $$$'s.

I was blaming myself for trading badly at first then improving, but sadly it just behaves different every damn day these days, used to last 2 - 3 weeks before method failed, sucks these days.
 
Paper trade and backtest for a long time before you risk live capital. It will save you so much real $$$. Model longer term data and don't rely too much on oscillators.

None of these technical indicators are the holy grail or the final word that's for certain. The biggest mistake I see are traders who really don't know exactly what the indicator is doing. Using too many indicators on the same chart is a big mistake. I've never had much luck using more than a couple. Also, just don't use the default settings on the indicator. Play around with sampling size (periods).

curiosity said:
I am not interested in day trading.
But I am interested in swing or positional trading.

I have an account with TD ameritrade.
I want clean chart with minimum indicators. I usually choose following
1. Volume /2. 21 EMA /3. RSI /4. ADX

Please suggest more if you think they are imp.

What is your opinion about indicators from Anna coulling and Wyckoff VSA package from tradeguider?
More...
 
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The most important indicators are probably VWAP and linear regression moving averages.

VWAP will help you establish context, and the LRMA is a standard estimate for trend over all time periods.

I also use a spread of price vs indicator differentials, but that is some stuff I researched and has to be coded with a scripting language.
 
Expma is useful in a sense,but i don't think the other indicators you mentioned will play a role.
The moving average may has an effect on your whole trade life,it's considerable important imo.
Moving average is the basic of trend trading .Not only for long term,moving average also can be used in short term,to be the structure of strategy.
By the way,ma13 and ma34 are two lines i use frequently
 
Let me give you an example of technical indicator redundancy: RSI, MACD, ROC (rate of change) and a Stochastic (slow or fast) are all different variations on the Oscillator. Same with bands/volatility and the same for Moving Averages.

Having more technical studies does not equate to a better trading system. From my experience - Occam's Razor applies here in spades.
 
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