What if I told you that I had the key to it all? Get away from all this crypto pump and dump bullshit and come live a better life with me.
I'm sharing with everyone the secret to day/swing trading the stock market. This strategy works regardless of it tanking or mooning. With a good amount of starting capital, you can make good money with this. I am not rich, I make a good living at for my age using this strategy. I don't want tips, I don't want money, I'm not here to sell anything. The only thing I cannot give you is the exact code, I want to simply give you an idea of what it entails.
It is a strategy as old as time, yet idiots keep having the idea that you have to buy the bottom or short the top. But, nobody knows where that is. Piggybacking onto the trend is the most consistent way to get profits. If the trend is up, there's a far greater possibility that it will keep moving up than there is of it being, the exact moment you get in, the top.
Pullbacks. Pullbacks are the key to it. This strategy, shown in the pic, is a simple example of a pullback strategy. Like I said, I will not give the exact code/studies out, but it basically involves using a simple oscillator for oversold/overbought levels. Think RSI/Stoch/MFI. It also involves moving averages (yes, meme lines) only for determining the overall trend. (Actually it uses a few long term EMA's and one short term). Once the trend is determined, you will take all trades in that direction on pullbacks based on the RSI/Stoch/MFI/whatever.
Basically, on an uptrend, you will buy all pullbacks where the price hits oversold and begins to move upwards. On a downtrend, you will short all pullbacks where the overbought level begins to curl down.
That's it. I've tested this for years on many different stocks. This will only work on the 30min+ chart. I've had decent success using the 15min but even that is too unpredictable.
You're welcome, Veeky Forums Go out there and make money.
if I run Stockastics and a 7, 25, 99 period Moving average, and I buy only on pull backs I will make money?
where is the optimal sell point?
shut the fuck up faggot, you're not clever
thanks for sharing
What EMA's do you suggest? I usually have the 8/13/21/55
Experience with the MA, find which works best for you. I said I won't give specifics. You buy only when the fast MA is above the slow MA, and you see the RSI/Stoch begin to cross up from oversold regions.
I used to use 13/34/100 back in the day. I prefer to use 3 because you can tell if it's in an uptrend - 13>34>100, or consolidation if 34>13>100 or downtrend 100 > 34 > 13
ok cool, now your not talking about RSI Cross over, your just talking about when it hits the 20 or 80 lines?
No it should cross over, if you just buy when it hits oversold, yes you could get a lower entry but it could keep falling. buy when it crosses over from 20/30, and I recommend looking at the price action, aka you want a higher high.
Basically, anyway that you think proves to you that it's just a pullback and not a full on trend reversal
awesome! I am going to try this out. I have a small account but I think this will work as im checking out charts
check out this short I took a few days ago on the hourly. This is on SPX 1h chart. I took some puts right as the stoch crossed back over from overbought (you can tell its on a downtrend because of the EMAs
I'm not sure how far back TradingView goes with it's studies, it varies on the time frame. Hourly it's usually a few months.
Hey man I just set up a template. Looks really good. Such a simple concept. Trade with the trend on pullbacks but my brainlet mind couldn't grasp it solo. I'm gonna test some scalps live tomorrow. I went with your EMA set up compared to my old one and the 100 is superior because it gives less fakeouts.