People DM me asking what it takes to be that top 5% successful day trader
I always refer to 5 dimension trading techniques, never published anywhere: Now you have it.
1st Dim: Price action 15M with volume - chart analysis, pattern recognition, trend analysis, major S/R levels
Jim's 2 books on Market profiles - must read for anybody who is serious about day-trading as well as swing trading.
Great tools to spot the large institutional trading fingerprint & intentions, combining with volume profile would pinpoint perfect intraday S/R
It would take about at least 1 year screen time to paper trade profitably before trading the real account.
So, please do not ask me about which tools are better. Actually, I have no idea.
However, I have followed #ticktool for a while, it seemed to be a good starting point
Absolutely not promoting anything, just answer some DM questions
Hint: Liquidity Moves Market
Below is an important old post about what moves the market?
We have talked about the Sentiment extremes moves market, evidenced by the extreme Fear to extreme Greed $VIX Mean Reversion strategy (see pinned posts)
The MMs, large institutions, hedge funds & speculators all trying to make the most liquidity in the market to work in their favor.
Some fading the crowd, liquidity hunting all day, fake break-outs and break-downs etc. dis/acc
https://t.co/LwlRbXzS88
I need to make one thing clear
— Kerberos007 (@kerberos007) April 13, 2019
1 Your bias, market blogs, commentaries, forums, market gurus, tweets, divergences etc CANNOT move price in any direction
2 Liquidity, sentiments & bid/ask volume made by market participants move market
3 $VIX strategy trades sentiment extremes
And what is the easiest way to find the most liquidity in the market?
1 - Major S/R levels - including trend-line, month/week/daily MP and Fib lvls.