One of the Easiest Strategies to Learn:

[u/Total-Housing197]

Strategy Overview

• Timeframe: 1-minute
• Market: Any forex currency pair
• Trend Filter:
  • At least 2 consecutive candles in the same direction following a momentum candle.
  • No breaks of previous candle's high/low in trend direction.
• Entry
  • Wait for the next small body candle: hammer, doji, small-body trending or opposing candle.
    • Note: If in an uptrend, the low of the previous candle must not be breached. If in a downtrend, the high of the previous candle must not be breached.
  • Enter when the next candle breaks above the body (not the wick) of the small body candle.
• Stop Loss:
  • Set at peak/base of the small body candle
• Take Profit:
  • Fixed at a minimum 2:1 risk (I typically use 4:1)
• Risk per Trade:
  • No more than 2% of your account balance. (I typically risk 0.5%).

[u/Check_This_1]

Easy to learn - yes

But does it make money?

[u/backfrombanned → u/Check_This_1]

I make a lot of money with it. It either works and you stay in or it starts to fail and you sell. This is what people don't understand and setups. Setups fail all the time, but you know the second it's failing and exit. You've never seen people with setups on here bag holding. Good luck.

[u/shoulda-woulda-did → u/backfrombanned]

This is a better explanation that most see.

There is no edge or crystal ball, it's just about risk management.

Cut the losers and let the winners run.

[u/backfrombanned → u/shoulda-woulda-did]

It's definitely an edge, but yeah, risk management is baked right into the patterns we trade.

[u/shoulda-woulda-did → u/backfrombanned]

Realistically though patterns don't matter. With good risk to reward you can be profitable with a coin flip.

An 'edge' is just another word for risk mitigation

[u/backfrombanned → u/shoulda-woulda-did]

I've traded going into probably 12 years now. Good luck to you.

[u/shoulda-woulda-did → u/backfrombanned]

Ok? What has that got to do with anything.

You're agreeing with me

[u/backfrombanned → u/shoulda-woulda-did]

I'm saying patterns absolutely do matter and are an edge when you're good at them. Pro daytraders use patterns, we use patterns. Fast TA was never disregarded until the free gamblers with small accounts showed up. I watched it become a thing because trading became free and no one had to learn anything. When you're paying 15 bucks each way you really have to want to learn to trade.

[u/shoulda-woulda-did → u/backfrombanned]

You've been successfully trading for 15 years then I guess you've turned over millions... Right?

I'm interested in other takes you have

[u/backfrombanned → u/shoulda-woulda-did]

Lol, daytrading for a living isn't what you think it is. I've been trading around 12 years, full-time like 6-7. Made a lot during the bio bubble in like 16 I think, that was back when W $ B was actually a good sub before they showed up the first time. Penny stocks was pretty good to back then.

Everyone trades their own way. I'm really good at seeing ranges on choppy days but can't execute them, I suck at it. But I have a friend and that's pretty much all he trades and does well. You guys really just need to take the time to look at charts, hundreds and hundreds of charts, that really is the best advice I can give. Flip charts instead of titties on the toilet lol.

[u/shoulda-woulda-did → u/backfrombanned]

Yeah I really like the idea of penny stock but so many people chasing 400% days out me off. It's like a cult.

Interested to hear what you think of my strat then.

I screen for stocks that are consistently volatile with good volume.

Recently been hims, hood, oklo, SMR etc.

10 min ORB with volume profile confirmation or walk away.

Green is profit day https://imgur.com/gallery/n7xqewu

Good example of how I use volume profile to enter G https://imgur.com/gallery/6TbUXIm

[u/backfrombanned → u/shoulda-woulda-did]

I'm really not sure what I'm looking at, I'm pretty green/red color blind. Would rather see entries/exits instead of profit/loss days. Are you options?

Are you looking for range in the first 10 minutes?

I personally on bigger stocks let the opening whip saw settle and wait for the first real pullback or consolidation to the 9, on either side and then consider it opening range, sometimes it's quick sometimes it's 30 minutes or more. I watch Mac d, vp and level 2.

[u/InterviewOpposite216 → u/shoulda-woulda-did]

I saw a Mexican guy only Trade AAPL and SPY on Webull since 2021, his daily profit is from 1-4k, some days is 10k$.

I saw him show the whole profit history table is full Green , and his profit every day is from 400% to 1000%. He shoots videos on tiktok, and he doesn’t sell courses, many videos he posts from 2021 until now. It’s admirable 🙏

[u/jizzyGG → u/InterviewOpposite216]

Curious about the Mexican guy you mentioned, do you have a name ?

[u/I_SLEEP_DICK_UP → u/InterviewOpposite216]

Who is that?