I know that there are a few people here who do are active traders. I was wondering what are some of your favorite indicators that you typically relay on for placing and exiting your trades?
Rising unemployment, falling housing sales, hurricanes aiming for the Gulf, the election of anti gun democrats to high office.
I buy gas futures when the models start showing major storms forming in or targeting the gulf.
I buy guns and ammo when Democrats look like they’ll be taking the WH or getting a majority in congress.
I buy gold, silver, platinum, precious stones when it looks like we’re heading into a major recession.
I used to trade stocks but the market has exploded to the point I no longer feel real comfortable trading.
Are you talking about FX and or in general?
Does it really matter? It’s my understanding and impression that the basic candle stick patterns and algorithms are essentially the same for many of the ETFs out there?
Yes it does matter. There are different reasons why certain instruments move and not all are created equal!
I’m talking about the indicators you find on the trading platform software in one’s brokerage account.
Also some people trade a specific time frame
But every investment or trading vehicle does have a support and resistance levels, both long term and short term.
I’m happy to learn what I can for any time frame.
I find the “Stochastic RSI” helpful. The thing is there are so many and I’m sure that the traders here would likely have a good deal of insight in this area.
That is true, I just got into a debate with someone over this issue, where they think time frame doesn’t matter and I say it does, for the simple reason of knowing how the market reacts is no longer in a matter of hours or minutes, but over days, weeks, and months where one will make the most money! Then there is 50 pip per month strategy which is how I originally learned. You earn and learn but Takes patience and it is takes longer.
Anyway I trade the daily and weekly, it is stress free and I don’t have to be in front of a computer screen all day!
I don’t use those unless I am interested in knowing volume. I draw my own trend lines and I am mostly about price action. Strongest indicators are pin bars and the strength of previous candles. I Guess to explain this better I need to be in front of a computer which I am not right now
Just open up a Robinhood account and buy Crypto.
Buy low. Sell high.
These guys make it too complicated. People were butthurt when BTC dipped below 10k today. I’m still up 130% lol
I bought even more.
Isn’t that crazy expensive? How are you buying it up? Loaded?
It’s easy. Just download the Robinhood app. Deposit however much you can afford. Buy BTC immediately in the dollar amount you deposited. Wait. Sell. Profit.
That is not trading using charts that is relying on algorithms and is not related to this thread topic