Profitable day trading strategies reddit
Profitable day trading strategies reddit. 15 mins and less can pull your emotions too fast. 4 BTC would still be 0. 3-4% per day is actually phenominal if you can do that consistently. Step 7 - Avoid the countless scams. This book taught me more than youtube. Also that it's not important how many trades you take. Same goes for every indicator. However if you absolutely want to just jump in, the minimum balance is $25,000. Trading is a probabilistic process, you can have a 100% correct analysis and still lose, and you can have a 100% incorrect analysis and still win. The real trick is to find which combination of these fits your personality and trading style and then the hard part is sticking to that execution. If you can make $100 a day consistently trading 1 micro, there's no reason you can't scale it up to make $10,000 a day trading 10 minis. But because of my poor risk management and greed of not getting out when the profit is good. Joining trading communities and forums can also provide valuable insights and support. The way trading is currently taught has caused tremendous damage to people who are just trying to better their lives, and has no place in this sub. Now in 2021 that I've achieved some pretty amazing levels of success (multi six figures in profit since October on an $8000 account), I wanted to give some of my insights on what changed from when I was failing to now. I average $30-40/day, which is 3-4% of my trading amount. As price down draw a rough trendline Once there's at least 10 bars and there's a trendline established wait for a) Close above 10 SMA b) Break of downtrend line c) MACD cross up or cross imminent Try taking 1 contract and letting the trade “breathe” a bit. Risk. 3%, up from 22. Day trading is the most stressful and difficult to get right and be profitable and the downside is gambling addiction and losing a lot of money fast. Most people are not consistently profitable, so imagine the above scenario in reverse. Is it possible to do in only 200 hours, starting from zero previous knowledge? Probably not. u/marketsecrets. That is a profit ratio of 5. That’s 15 hours a day with no guaranteed profit. Looking at the chart and putting alert lines on various stocks you are watching for tomorrow. But by the end of the market or day, you should hold no active positions. Every now and then, sure, you may want to / need to execute a day trade, so keep them available for locking in profits or exiting when needed. MACD is a lagging indicator as well. Buy a call close to at the money or slightly in the money and sell a higher strike call and the spread MUST be purchased for less than 50% of the spread. For the stock market, Option trading has been open to traders since 1973 (so they are as old as I am). However, for Before you start with Charts, learn about the mindset you need to execute your trades. An example: Carbon Capital FX has proven to be the easiest to use when it comes to Copy Trading. Best crypto trading strategy for Novice. strategy. . Price is above $2. So each restaurant branch is growing too, as well as number of branches. Reply reply. Skip on others. If indicators work for you. The 20% stop loss keeps you right at 2% risk, of your total portfolio. I think that's all I have for now. This optimized guide focuses on harnessing the power of VWAP and ATR indicators on 3-minute candles for day trading success: Scanning for V-Force candidates: a. I like your strategy of planning the night before, putting orders and limits in when the market opens and not checking until later. Restaurant profit margin now expected to be 23. Whenever I’ve taken a position with the Same person, same account balance, and same need for a profit of $500 a day - but: Win Rate: 20%. 3%. Remember that day trading crypto can be highly volatile and risky, so it's essential to approach it with caution and diligence. You CANNOT expect to be profitable in only 9 months, does it happen for some people sure, but it's absolutely not the norm and 95% of people will never be profitable EVER. • 3 yr. If you want to have a consistent profitable strategy . Bitcoin (BTC) Bitcoin. Popular day trading strategies include scalping and swing trading. My risk and scaling strategy is pretty basic compounding: max risk per trade is 2% of my current equity, which I adjust at the beginning of each trading day. Because the AAPL trade will pay off almost every time. Put in between $5,000 - $10,000. ADMIN MOD. ) 2:- find a optimal stoploss for your strategy. Add the original 80,000 back that’s $320,000 by your second month. Dec 21, 2018 · By Wayne Duggan. find what type of trading style are you comfortable with. Edit: Someone just pointed out my dollar amounts are incorrect, the percentages are what someone wanting to backtest this strategy should note. It buys on dips, which are identified by colored peaks in a histogram chart. OnDemand lets you select a date in the past and trade with paper money. adjust (add or change parameters) the strategy after you had at least 20 trades. Share futures trading insight, tips, and your trades! Profitable traders (3+ yrs) As a beginner/intermediate trader, I would love to see an overview of "legitimate" stats if you are willing to share. Once you have that figured out there’s only four ways to trade. You keep collecting the premium from selling these puts. The indicator uses stochastics and std dev. |. Trade the candles. Do you want to trade 1-5-15-30-60 minute charts. Getty Images. More. Most swing trading strategies trade in the direction of the prevailing trend. And the pullback allows for a decent entry vs just I tested this on every trade I made today. Yes, it is possible to write a profitable trading bot. For example, if you are working with 1k, your per position entry should be no more than $200. If that’s too wide, a . advice. Drawdown, time to loss, time to profit, time of day trades (with wins, loss), breakevens, etc. Hello! I made a google slides doc that breaks down my day trading strategy as best as I could. You are always playing a certain day's trading session so knowing the levels for that day is important. Since you can make some money on the short term, you can be trapped on day trading for years. • How to get price of a stock or any trading symbol through our Python based Algo Trading BOT? Trading when profitable is usually incredibly simple. At $25,000 it was $500. -1. mb4x4. Maybe you got your ass kicked by a stock early in the day. But if the other dude exercises the option, you are obligated to buy. It is very difficult to find mechanical strategies that are profitable on an intraday time scale. 7% stop loss. Besides 95% of day traders are Loosers A retail trader taking trades blindly from a mechanical strategy wont work, there's a lot of variables of why you should vs shouldn't take trades so discretionary actions are needed. 3:- when you get your stoploss, find your risk reward ratio. In the long run, it seems to me that the drawdowns will wipe out the previous profits. I trade primarily futures at this point, but I also trade options and stock. This is a very tight stop loss compared to what most people do, and yes it will lead to more losses. This strategy confirmed most of my favorable trades, gave me a late entry into two (still profitable), stopped entry into two that yielded losses, and encouraged multiple entries I didn't feel sure about. 5) Trading Doesn't Stop When The Market Closes - You should be looking through your trades for the day, analyzing what went wrong and what went right. As a new trader to find your strategy you must first pick your time frame. That doesn't mean day trading doesn't work. Day Trading is more about Personality: We trade differently. That’s it. Strategy is mechanical and the only thing I am deciding is entry point. At $50,000 it was $1000 etc. Not a pro, but at least good enough to earn $200-300 a day. If you’re trying to define a $100 risk, then a 1$ stop on 100 shares would work. 3. Here's my take on scalping: Yes, I've made just as much money trading smaller moves, but only in certain environments. Vow! You'll be much better of with that over the years than ever touching day trading. TurkMcGill. I recommend Hourly charts, and Daily charts as a pair to make your day trading decisions. I have been trading for a few years now and could never get price action strategies to work outside of hindsight. 0. 9 million thanks to covid and shorting the market then when Feds started QE with 0% interest rates went long ES, as well as taken long options which I hardly ever touch options. You A few comments: day trading options. I have tried a lot of different strategies, and understand that HODLing is the way – but this takes a while to make gains and I dont get how some traders are making +25% gains on trades day to day. 9% will “make money,” but after netting everything out including the stress they’d have been just as well off if they had gotten a regular job. 4 million and 2020 made 5. Investing and working a 9-5 is so much easier. The truth is day trading everyday more than likely isn't profitable because of slippage plus trading fees which can really stack up. Thanks for sharing! For anyone who wants to really see this shine, compare it's performance on LI Hate to say again but it's 1000 diff answers from 1000 diff people. With this type of strategy, the trader aims to open buy positions when the momentum is bullish and open sell positions when the momentum is bearish, that is, when the market falls. Feeling unsure of trading system = journal with a spreadsheet. 6. My DCA style trading strategy is based on a modified version of vix (by Larry Williams in 2007), which seems to work pretty well on most volatile trading assets. Dec. 4:- Do some backtesting could be done manually , find out your win/loose ratio. Live trading is where you trade real money, real stocks, real time but, they have an OnDemand which allows you to replay any stock older than 2 days and trade with fake money. ) I don't write this as someone big and experienced, but rather as someone just starting out, similar to you. Favorite assets: I trade any of the 28 major/minor pairs that have setups. No. I learned this from this guy named TradePro on Youtube (great reviews of strategies) Usual entry/exit strategy: my bot takes entries based on a very simple few indicators. My full Day trading strategy breakdown. Here is the summary after trading this strategy from April 20221 until today: I have done 1344 trades (usually I do 5-7 trades per day) The win rate has been 38,3 %, and the loss rate 61,7 %. 5% yOY, up from 3-5%. Continuously sell cash covered puts (obligation to buy 100 shares of the underlying). trend based, breakout, reversal, scalping etc. It’s useful for swing trading, but I don’t think it’s as accurate when daytrading. Don't be afraid of market news. Day trading strategies are for those who love the thrill of the chase. Everyone has their own strategy. 5h hour of trading 6RR and 42% WR, I find the 6RR to be more profitable as more frequency of trades, but higher drawdowns, I’m just lost as which strategy I should pick. Learn that loosing money is part of the whole process. Check your take-profit and stop-loss before taking the trade and shoot for a 2:1 ratio. Reply. 5 BTC balance using a grid trading strategy. The first, and biggest thing, was finding the particular trading Day trading is the buying then selling or shorting then covering of a security (see below) during the same day to achieve a profit from the rapid fluctuation in prices. If you scalp, 1m to 15m timeframes. 4 BTC after a half-year HODL) You still need to understand the market and make correct decisions while trading with bots. 21, 2018, at 2:05 p. Try taking 1 contract and letting the trade “breathe” a bit. 3 days a week for 2-3 hours per day and I work 9 hour week to make a full-time income. Charts below 4 hours are not recommended, but a small time period chart can be used to determine the entry and exit points. Fewer people will be successful at day trading than at swing trading. 1% will make it outright. andersenj1999. This allows you to pick a date in the past that you're not familiar with at all which will then test your trading mettle solidly. Manster21. There is no trading strategy that are consistent and profitable. Award. 1. (In case of holding 0. Realistically speaking you have to be trading for 5 years to become a profitable trader. From what I've studied, over time, swing trading is more profitable than day trading. As the name suggests, day trading involves: buying and selling financial instruments within a single trading day; using technical or quantified analysis and short-term price movements to generate profits Which strategy should I choose. Not candlestick pattern, but yes. It helps to watch multiple time frames also, I’ll use the 5 min for entries and exits and once I’m in a trade I’ll watch the 2 min for a candle to close below ema (if im long). Don’t hold on if it hits your stop and don’t get greedy if you hit your take r/FuturesTrading is a place to discuss futures, commodities, etc. KISS Keep it simple stupid. We became day traders because we can take advantage of either direction In trading, being early is the same as being wrong. 5% bounce profit or 1. For a stock in the trading range, there are other strategies with other indicators. Buy breakouts or buy weakness, sell weakness or sell strength. The result is too unpredictable with the stock, and the options will lose tremendous value through IV reduction. Clearly if you’re blowing up accounts your overall risk is too large for your account size. The same thing can be applied to Daily Chart, Weekly Charts, 15 min charts. well risk managed. Successful day traders often have a solid strategy in place that helps them identify opportunities, manage risk, and make profitable trades. Ex. Because swing trading usually lasts for several days, the time period of the chart is longer, which is more conducive to analyzing the market. You now need to average $500 per win (4 wins out of 20 = $2,000) and only withstand a loss of $93. Years of being in the market, watching videos, experimenting and lots of mistakes. 5 hours per day trading, dozens of hours per week structuring and learning), then part time for about 3 years (an hour or two trading per day, still dozens of hours per week learning), then became profitable enough at the end of that 4th year to start doing it full time for a living. There are long periods of time when the market is stuck in a volatile range, like the last several weeks. This strategy is for stocks who are in an uptrend. 7 % stop loss rebuys 5% below that sells for either a 2. This goes for futures, crypto, stocks or whatever you're trading. We trade patterns. Do the same thing trading the entire 80,000. Day trading losses tend to concentrate forcing a change on the strategy. 70redgal70. Now that I have been trading for a month, I see where the emotions come in and panic bought/sold away some great opportunities if I were only patient. I created it for myself, to help reinforce all the things that I have learned, and am still learning. 1 - Prep your trade / Identify the trend - draw support and resistance lines using higher timeframes (1h & 4h) 3 - Price Action and Candlesticks - Learn and memorize few candlestick/chart patterns. Could be a the more you play more you win strategy, stick to the rules you should make many many many profits before you take a loss over time which will give up a +100% win rate. m. Price action works but patterns typically do not. 4 BTC initial balance into a 0. 10% gain focus, 5% hard stop loss a day. com's Reddit Forex Trading Community! Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between! ---- We also have one of the largest forex chatrooms online! ---- /r/Forex is the official subreddit of FXGears. Average Trades Per Day: 20. Volume is 50k on one minute candle. If you swing trade, maybe 2-12hr time frames. 00 *. In 9 months you're basically a breakeven trader and that's NOT a bad place to be, you just need time to continue tightening your strategy. If zero fees it can be profitable. Share. This guy will teach you his day trade setup. 75 (16 losses out of 20 = $1,500). 37 Yes just realize the algorithms to trade millions of dollars are different from the algorithms to trade thousands of dollars. You can figure out your R based on your position sizing. A trade can be done within a few seconds or over hours. Any trades you follow, or Kind of an afterthought here, but personally I use TOS for investing but a different platform for trading futures which only requires $500 /contract for trading /ES, $50 for /MES, much lower margin requirements for day trading index futures than TOS, and I'd be really interested to see a small account challenge building from closer to $1000 up It can be insanely profitable if you're good. I copied it and I've been making profit about 10 to 3 ratio: Day Trading by Troy Noonan. In a way, the entire Insurance industry is based on the same principles. If you can’t increase your account through swing trades, you probably aren’t ready to day trade. One year can be a bull run like 2020 and the next can be whiplash. Main Analyst regularly posts educational, free content that helps you with your trades and the Copy Trading option is always there if you want to join the platform. In trading, being early is the same as being wrong. Becoming profitable is easier when you leave out trades with a low chance of winning. Day trading for degenerate gamblers. At $1,500 account my risk per trade was $30. Welcome to FXGears. 7-24. It’s a pure gamble. But you can check out Rob Carver’s blog for a detailed history of his at-home trading, including detailed performance stats and analysis. The nice thing is that you can select a completely random day. Now you sell covered calls (obligation to sell 100). These traders try to match their entries to the natural rhythm of the market, so they 95% of people will lose it all (that was me). Don't believe reddit, as the majority on the daytrading reddit claim they are profitable. 2. Most of the time the stock doesn't move enough to justify trading in and out many times a single day with all the fees involved. Keep in mind if you have bills to pay you have to trade your retirement account and day to day account. Yet, the strategy as such has proven profitable. If you day trade, then probably use daily time frame or 12 hour. Environment/Focus = try trading in a place that allows focus (sometimes this will make you sacrifice family time). 4 - Risk Management and Trade Management - Always have a Stop Loss. Repeat. Yes you can use a scalping strategy at lower timeframes like 1,3,5 Minutes. *prices delayed up to 10 minutes. Market moves prices by supply and demand we all know that. All depends on your strategy, type of trading you're doing, and how good you are. 50 per spread contract, the lower the better. I believe it is because the inherent assumption that assumes market is static, where your trade wouldn't affect the market, the market will continue operate like it doesn't know your trade exist. I think it would be very helpful to see the landscape of what's possible. Use a stock screener to identify stocks with high relative volume and significant price movement in the first hour of the trading session. And that's not 5 years after which your wins/losses are net positive, it takes a couple of years for make that back. I've been consistently profitable for some time, bla bla. And those small differences matter. Options: The concept/theory of option contracts have been around for a long time, probably since the conception of trading goods/commodities began. Technical analysts believe that most smaller opening gaps are filled, while larger breakaway gaps tend to indicate the market will continue in that direction. A retail trader taking trades blindly from a mechanical strategy wont work, there's a lot of variables of why you should vs shouldn't take trades so discretionary actions are needed. 5RR and 41% WR and another with 1. Let me explain. You now own 100 shares. That being said, it's a very big "if". Ema, vwap bounce, first bounce, first resistance, abcd, breakout and literally countless other ones. 4 - Get off that one stock. EBITDA expected to be higher at 100-105M, up from 86-92M. once you find your style then start with some simple rules and start gathering data by journaling your trades. MARKETS. 5-6. I have two highly profitable and backtested/Forward tested homemade strategies, one with one trade a day 8. 4. • 4 yr. You may also lose money, but the biggest loss will be the years trying to make it work. I started day trading back in 2016, and failed epically. DecentStatistician89. One of the most Introducing the "V-Force ATR Breakout" strategy. 7-23. 1:- define your timeframe of trading (5 min. Only candlestick pattern I like is hammers. 7 years sounds about right for that. Stay updated on market developments, trading techniques, and risk management strategies to improve your day trading skills over time. I built this from watching Youtube manual-trade strategies. Dam watching the market from 4am to 7pm. I’m able to scalp and grow my account ~4% daily with 1 or 2 trades a day. Try screening for stocks that are trading above their 200 day moving average and the Stochastic (14,3) is climbing back above 20 after dipping below. Yes sometimes it will hit 10 or 15 pip loss but I’m positive you will take profit 3-5 times before that happens. Swing trading is where the real profits are at. 3million, 2021 made 1. '5 minute' strategy works pretty well on NQ/ES for day trading and is a bit of a benchmark. Day trading strategies. Sharing/Giving: Not everyone wants to share. We don’t hold overnight. May 1, 2024 · Best Day Trading Platform for Strategy: $0: $25,001: View More: Day trading is not profitable for most, as day traders expect to see certain losses and often rack up high fees. There is an absolute "No Troll" policy - this is a place where traders can learn and help each other. The Most Successful Options Strategy. , 15 min. Very profitable. RAISED FY 2024 guidance: Same restaurant sales growth expected to now be 4. But not because of the strategy. What one risks per trade is a function of their overall balance, risk tolerance, and trading factors. even, in real-time, if 2 people are talking live with each other, the way they perceive Price Action will be different. It’s simply about aligning the probabilities in your favor in all the ways that you can. IE a spread with a $5 spread should be bought for less than $2. . Vote. By the end of the first month (30days) beginning of the second month you have 80,000 at the start. Create 5 minute chart with standard MACD and 10 period SMA. Yes been day trading the ES and only the ES for 7 years, past year made 1. Stock has had a pullback 1 min or 5 min chart (shows that the move is less likely to be immediately parabolic if sellers are taking profits. If you get 10% a day on $80,000 for 30 days thats $240,000. Timeline uncertain, however, as trading can be notoriously fickle. Most retail traders are not profitable, and the percentage skyrockets to 90% for those that are If price moves aggressively downward my uptrend weight does nothing and my down trend weight eats a 1. Mar 26, 2024 · 5. Not Indicator Day Trading. Not News Day Trading. Well, my w/l is 50/50 ish. ago. 10 votes, 44 comments. You don't want to be labeled as PDT, so be sure you're willing to hold your positions for longer than a day. Do a lot of Papertrading. Stock should be bullish technically on the daily chart. But you’ll want some cushion, so go with at least $30,000. $68291. Best book ever: Trading In The Zone by Mark Douglas Learn how to sucessfully trade with strategies, risk management and stop losses. During the six months, I have turned my 0. When I first started trading over 14 years ago, I experimented with hundreds of strategies and different permutations of each. 4 Popular Day Trading Strategies. It's basically the domain of hft's. Count everything you want. I don’t use any indicators. For myself, I learned early on that my skill lies not in correctly assuming I day trade /ES and sometimes I'll day trade SPY options as well. 3 - Do not hold a position, either in stock or options, through earnings. SmellPrudent. I can sit and analyze the 1M, 5M, 10M, 1HR, 4HR, and Daily chart throughout a market day, also utilizing RSI, and get a good feel for where price could be headed that day or week. 5:- then do 1. This community is devoted to the teaching of strategies and resources to help traders become consistently profitable. • Nifty - Weekly View - Strongest, Strengthening Support and Resistance Charts. A place for members of r/tradingstrategies to chat with each other on general stuffs. Apr 4, 2024 · 3 Best Crypto for Day Trading in 2024. Anything less does not give you good data. 50 stop on 200 shares carries the same level of financial risk. But remember. Keep on running them! •#3: The overall market condition (Bull/Bear/Stagnant) has no effect to a day trader’s equity curve. •. All the coins listed on Coinbase only go up or down a couple percentage points each There is NO SECRET SAUCE: no indicator can make you rich. For example, you can load October 25th, stocks AMD, NVDA and AAPL and trade them like it was real time. This helped my emotional trading. Trading is an incredibly individual endeavor with unique inclinations, natural gifts, approaches, etc. com, a trading forum run by professional traders. For me, it's momentum trades on low floats, typically pre-market: Stock has gapped up 25% or more. (The account is split in two so I can trade every day. 33 to 1. Have definite entery exit points. We became day traders because we can take advantage of either direction It also allows me to put in a trade, set an OCO bracket with stop and TP, then walk away for the day. Here are the top three cryptocurrencies to consider for day trading this year. Oct 10, 2023 · Strategy 1: Market Opening Gap. If your algo is only profitable at millions of dollars then sell it to a hedge fund or prop shop, no sense trying to trade what you personally cannot trade. Trade more on A+ setups and less on average setups. Only two outcomes , I'm in profit or I have more accumulation of the Alt asset for no more input cost. Day trading can be a challenging and rewarding activity that requires a combination of skill, knowledge, and discipline. I spent my first year doing it full time (6. ec up sc gj ke gd ga de bk oa