Indeed, I realized this error early on. Ah well.
Is trading easy?
- Thread starter nooby_mcnoob
- Start date
Indeed, I realized this error early on. Ah well.
Well, you are certainly working up a great cunt count with your, as you put it, poorly-worded poll!
With this method, the more volatility the better of course. If we muddle in the middle. that will kill everyone's opportunities, not just mine. I've thought about changing market conditions, but for the foreseeable future we have the heavy weighted tech stocks and they drive the indexes I use and I have no idea what market condition would change that correlation. I'm only scalping and holding at the most a few minutes each trade.
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@Handle123
What would be the best way to learn charting patterns ? Books, videos, courses
Are you scalping the 5m chart ?
I use a 5 minute multi day chart for bigger picture and plot support & resistance lines, but trade on 1 minute chart. Today there is a wealth of free info out there, back when I was learning it was groups and teachers like Trader X and the old IRC groups too! Cougar is still going strong last I checked in on the old IRC group.
That is a healthy attitude with the ES and NQ ranging ~2 percent each day on a midnight-to-midnight timeframe with the VIX hovering in the upper 20s. It is not a normal time, and something is gonna' give.
For me anyway, here is how simple it is. Look at the screen shot I posted of the indexes and my trading charts beneath this row of indexes. You see the little edge on the right of the index? It is headed down.. see how the VIX is headed up.. well that 1 minute candle coming up is going to be red. And it was.. It is that simple.. and based on volatility, ema's and other factors.. you can see a good opportunity to scalp. I also use chart patterns too, but I would take shorter trades, for instance, riding up from a double bottom and rinse and repeat.I use a 5 minute multi day chart for bigger picture and plot support & resistance lines, but trade on 1 minute chart. Today there is a wealth of free info out there, back when I was learning it was groups and teachers like Trader X and the old IRC groups too! Cougar is still going strong last I checked in on the old IRC group.
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Low risk, low exposure and low profits but they add up to a nice green total this way.
This is so noisy. I am not smart enough for all this, this is what my execution chart looks like for the most part
Sometimes it looks like this giant mess but I generally only use the latter when I am in a position and want to be aware of levels that others may be interested in.