This one thread 🧵contains the basic tools I use as a successful daytrader
These are the simple methods that have made trading "click" for me and have changed my life!
I'm going to break them down right now and maybe they can do the same for you👇
$spy $qqq $amd $nvda $aapl
These are the simple methods that have made trading "click" for me and have changed my life!
I'm going to break them down right now and maybe they can do the same for you👇
$spy $qqq $amd $nvda $aapl
I will quickly cover each of the tools I use and then show you how to tie them all together so you can find low risk high reward trades on a daily basis.
Each tool is simple and easy to learn, and when combined they make up a very profitable trading strategy. So lets begin👇
Each tool is simple and easy to learn, and when combined they make up a very profitable trading strategy. So lets begin👇
First is support and resistance. The golden rule of trading is old support becomes new resistance and vice versa
Once you understand that the market is always in some kind of S&R channel that it will break out of and likely retest again then price action starts to make sense
Once you understand that the market is always in some kind of S&R channel that it will break out of and likely retest again then price action starts to make sense
Next is Supply and Demand. Basically these are wider S&R levels. These zones are a powerful tool for gauging market direction.
My favorite zones are from the 4 hour chart, the Previous Day, and Intraday.
Below are some examples of these zones I use 👇
My favorite zones are from the 4 hour chart, the Previous Day, and Intraday.
Below are some examples of these zones I use 👇
Indicators - The only ones I use are 3 EMAs on the 2 min chart
I use them for 2 main reasons. One is for determining chop from trend so I can place trades when there is momentum present. The 2nd is for my pullback entries into the trade
How to use emas for gauging momentum 👇
I use them for 2 main reasons. One is for determining chop from trend so I can place trades when there is momentum present. The 2nd is for my pullback entries into the trade
How to use emas for gauging momentum 👇
Here are some of examples of how I use emas for entering trades and managing my risk.
When price is above the 200ema I'm looking for pullback entries to either the 13 or 48 emas to go long and vice versa to go short.
Then I use that same ema as my stop out level if it breaks
When price is above the 200ema I'm looking for pullback entries to either the 13 or 48 emas to go long and vice versa to go short.
Then I use that same ema as my stop out level if it breaks
The final piece and the most important part for any successful trader is risk management.
This means you keep your sizing consistent and you respect your stop level. No one trade should ever make or break you.
I enter as close to my risk level as possible and exit if it breaks!
This means you keep your sizing consistent and you respect your stop level. No one trade should ever make or break you.
I enter as close to my risk level as possible and exit if it breaks!
Now let's put these pieces all together. We have our levels and zones to watch and play off. We have our pullback entries planned out. We have pre determined stop levels to protect us
You are coming into the market prepared with a plan to follow. Take a look at what happens 👇
You are coming into the market prepared with a plan to follow. Take a look at what happens 👇
If this thread helps you out in any way please give it a❤️and♻️
Hit the follow button for daily education including trade breakdowns and recaps. Thanks for reading 🤙
Hit the follow button for daily education including trade breakdowns and recaps. Thanks for reading 🤙
I can only fit so much into a thread so subscribe to my YouTube channel where I will be breaking down these techniques more in depth.
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youtube.com
There are still a few spots available to join Team2 if you are looking for a supportive trading community.
These spots are on a first come first serve basis💚
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These spots are on a first come first serve basis💚
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