intraday trend

[hooligan]

I have been enjoying trading spy options intraday. Fun. I have a faster disposition. I have been finding success, winning more than losing, although I'm still working on having the discipline to cut losses quickly small and let winners ride. This matters a Lot.

I use some of my own indicators, RSI, and a "EMA Cloud" multi-EMA indicator popular with day traders these days. It works well.

Still, I'm looking to collect really useful indicators for trading intraday. I just learned about stochastic oscillators, which are looking really promising. particularly the slow one.

Determining the intraday trend, whether its up, down, or sideways range action, is really key, and sometimes difficult. Often I've noticed its a lot easier if I just sit down at 1-2pm rather than in the morning. The "drama" of the day is easy to understand, and the rest of the price action is easier to predict.

Anyway, if anyone has anything to recommend for faster trading, I'd greatly appreciate it. Indicators or advice.

[AstuteShift]

Personally, I’ve been testing intraday trading but tbh the results are lackluster and the stress builds so the results gets even more pathetic.

Day trading is not profitable. You’re better off waiting for the big crashes and going all in when the trend is positive lol

Anyone promoting daytrading is either a con artist, smoking crack or selling courses on YouTube promoting the con man life

For example, I’ve waited for months for my UUP calls to explode ever since SOL stated a bullish crossover on the DXY (index). This was a high probability trade and set a good chunk of cash into it. However this is not for everyone, you have to assess your risk tolerance. The profits so far have been spectacular

Instead, it’s better to be cool, calm and wait for opportunities to come to you and go with high probability trades.

[hooligan]

Personally, I’ve been testing intraday trading but tbh the results are lackluster and the stress builds so the results gets even more pathetic.

Day trading is not profitable. You’re better off waiting for the big crashes and going all in when the trend is positive lol

Anyone promoting daytrading is either a con artist, smoking crack or selling courses on YouTube promoting the con man life

For example, I’ve waited for months for my UUP calls to explode ever since SOL stated a bullish crossover on the DXY (index). This was a high probability trade and set a good chunk of cash into it. However this is not for everyone, you have to assess your risk tolerance. The profits so far have been spectacular

Instead, it’s better to be cool, calm and wait for opportunities to come to you and go with high probability trades.

always appreciate your replies.

i know lots of day traders who are profitable. they trade all day in unpaid discord rooms basically publicly. very transparent. they like the community of it and spread knowledge, don't profit off their audience, and don't pump. some people are just thirsty for community. esp lonely trading nerds. one thing about me is i have my ear to the ground online. believe what you like but. people have working systems for it. of course combined with skill. trading has x-factor.

one fallacy i'm very keen to always avoid is pessimism.
its seductive. i prefer to stay curious and agnostic.

anyway my request stands. anyone with any useful tools to share, i'd love to hear

[AstuteShift]

Unfortunately, there is no team when it comes to the markets

Money has a nasty habit of turning individuals into animals, especially those who have no awareness or perceptiveness.

Sure, perhaps they’re individuals who can trade intraday but I find that

1. They have a catalyst and know technicals
2. Are not greedy nor fearful
3. Stop after a while since day trading consistently leads to 100 percent chance of destroying your entire account.

4. Insider trading but that’s what hedge funds do consistently yet they still under perform the market. If you’re peon then it’s jail time

The markets destroy the optimists the most. Pessimism to me is knowing the manipulation of the markets. Realism is taking cold, calculating high probability trades. This is not easy since you need to remove filters that you gathered from your life

[SOL]

Personally, I’ve been testing intraday trading but tbh the results are lackluster and the stress builds so the results gets even more pathetic.

Day trading is not profitable. You’re better off waiting for the big crashes and going all in when the trend is positive lol

Anyone promoting daytrading is either a con artist, smoking crack or selling courses on YouTube promoting the con man life

For example, I’ve waited for months for my UUP calls to explode ever since SOL stated a bullish crossover on the DXY (index). This was a high probability trade and set a good chunk of cash into it. However this is not for everyone, you have to assess your risk tolerance. The profits so far have been spectacular

Instead, it’s better to be cool, calm and wait for opportunities to come to you and go with high probability trades.

always appreciate your replies.

i know lots of day traders who are profitable. they trade all day in unpaid discord rooms basically publicly. very transparent. they like the community of it and spread knowledge, don't profit off their audience, and don't pump. some people are just thirsty for community. esp lonely trading nerds. one thing about me is i have my ear to the ground online. believe what you like but. people have working systems for it. of course combined with skill. trading has x-factor.

one fallacy i'm very keen to always avoid is pessimism.
its seductive. i prefer to stay curious and agnostic.

anyway my request stands. anyone with any useful tools to share, i'd love to hear

There is a way to win in the day trading game but the input is far higher than the output. In other words, if you are only measuring your gains in terms of dollars yeah then you could win. However, if you take everything into consideration, mental stress (you have to overload your sensory organs for long periods), eating badly as you are focussed on the market and so even if you eat good food the digestive process is faulty due to you being either mentally, physically or biologically stressed. We place a high value on health so when we enter that into the risk to reward equation, the outcome is negative. Other factors include losing a whole lot of valuable time to be glued at the screen and by the way stressor hormones such as cortisol will start to rise.

However, if you want to to day trade, then you need to make a rule of how much money profit you want to make. Choose a dollar amount or % and stick to it. So if you achieve that in the first 5 minutes don't get greedy and push it. I have see so many hit their target within one hour and then try to make more and spend the rest of the day or even weeks trying to recoup the losses from the 2nd and 3rd losing trades that they took on that day.

Find 2-3 markets that you like and stick to those. Ignore the rest for you need to start to develop a connection with those markets. TA alone won't be enough.

A good trick to for the day trade is to first pay attention to what the Daily and weekly charts are doing. Start with the weekly, if the weekly charts are trading in the oversold ranges and the daily charts are also trading in the oversold ranges, then any deviation on hourly or 30 minute charts would represent a buying opportunity.

Here is a small example

Weekly charts= trading in oversold ranges but about to move into the neutral ranges (for day trades this will remain bullish up the slightly overbought ranges)
Daily charts: trading in the extremely oversold ranges (good setup) if they were trading in the extremely overbought ranges, then patience is called for and one should wait for them to pullback to the oversold ranges as they will override what the hourly charts do even if they are trading in the extremely oversold ranges.
Hourly charts; Oversold to extremely oversold: okay good time to act if the daily charts are also in the oversold ranges.

The idea with day trading is to get as many confirmatory signals as you can. However. I place more value on time and health than dollars so even though we have a strategy we could put into play, I won't go down that road. I did try it once for 6 months. At the end of that period all my stressor hormones were up, from 25 to 40% percent. I had significantly less time and I was generally too tired to want to do any physical work.

[hooligan]

MUCH APPRECIATED SOL