Still looking for my strategy

[smcoder]

Maybe you can use intrady charts to take decision.
Maybe check the VPOC previous day health in current trading day. If by your judgment the VPOC of the previous day didn't touched or act as strong support line maybe this VPOC of yesterday that holds today.. can act as tied stop lose for swing trading. I use the intraday chart as S&R lines for my swing demo trade. My account size don't afford me trade this price steps..
So I need to scalp like a lunatic..
It's exhausting..
Good luck all.

@Leob

I do consider S/R lines and volume when setting entry and exit points.
Is your scalping effective? Is your account growing?

 

[smcoder]

Maybe you can use intrady charts to take decision.
Maybe check the VPOC previous day health in current trading day. If by your judgment the VPOC of the previous day didn't touched or act as strong support line maybe this VPOC of yesterday that holds today.. can act as tied stop lose for swing trading. I use the intraday chart as S&R lines for my swing demo trade. My account size don't afford me trade this price steps..
So I need to scalp like a lunatic..
It's exhausting..
Good luck all.

@Leob, thank you for pointing me to VPOC, it looks very interesting and reminds me of volume profile, identifying the price at which trades in a given day or time period took place

 

[deaddog]

I need to define more clear rules

 

[Leob]

@Leob

I do consider S/R lines and volume when setting entry and exit points.
Is your scalping effective? Is your account growing?

Mainly pay my bills.. not to much fat remain

 

[GangstaTrada]

I've been trading for a few years now and over time I've tried my hand at different strategies and analyzing successes and failures I realize that I could have had maybe not huge profits but most probably near 100% successful trades by simply choosing to trade only long-term leaders such as google, microsoft, adobe, accenture, to name just a few. It would probably be all that is required to just wait for corrections to enter and consider taking profit when reaching overbought territory either on the specific stock or in general in the stock market.

Below for the sp500 I count 9 corrections since the beginning of 2021, a few probably too small to consider but I hope you get my point.

View attachment 269665

Well then I guess you'll just have to be part of the 95% that loses then

 

[fan27]

I've been trading for a few years now and over time I've tried my hand at different strategies and analyzing successes and failures I realize that I could have had maybe not huge profits but most probably near 100% successful trades by simply choosing to trade only long-term leaders such as google, microsoft, adobe, accenture, to name just a few. It would probably be all that is required to just wait for corrections to enter and consider taking profit when reaching overbought territory either on the specific stock or in general in the stock market.

Below for the sp500 I count 9 corrections since the beginning of 2021, a few probably too small to consider but I hope you get my point.

View attachment 269665

I am having good results trading break outs in stocks. This guy has some good videos if you are looking to emulate someone's style of trading.

https://www.youtube.com/channel/UCozwoxzvsLPEDPZkcdfgvSw

 

[smcoder]

I am having good results trading break outs in stocks. This guy has some good videos if you are looking to emulate someone's style of trading.

https://www.youtube.com/channel/UCozwoxzvsLPEDPZkcdfgvSw

@fan27, thank you for sharing it

 

[sebking1986]

Clearly this is a long only strategy but @tomorton would you be able to suggest what I could look into to improve my approach?

Sometimes that's all you need. Especially as most of us have a long or short bias in terms of seeing opportunities.

 

[smcoder]

Sometimes that's all you need. Especially as most of us have a long or short bias in terms of seeing opportunities.

I agree. I've always felt like my strategy is somehow incomplete but I really never got into shorting or options trading to take advantage of corrections or bear markets. Shorting or options trading have the added complexity of requiring being correct in timing the market. A thing I also realized recently is that I really need to slow down my trading and I somehow feel like having a strategy that works both long and short would give me almost no time to take a step back and relax

 

[sebking1986]

I agree. I've always felt like my strategy is somehow incomplete but I really never got into shorting or options trading to take advantage of corrections or bear markets. Shorting or options trading has the added difficulty of requiring being correct in timing the market. A thing I also realized recently is that I need to slow down my trading and I somehow feel like having a strategy that works both long and short would give me almost no time to take a step back and relax

Exactly. Most focus on the financial aspect of what trading can offer but ultimately money equals time. And if you're making a good living but spend 18hrs a day in front of your screen are you really wealthy or just rich? All you need is something that works consistently. Don't complicate it if that's what you have.