My best strat is fibs. When I swing for the fences, I do poorly. When I trade measured moves on a handful of instruments that tend to move at particular times of the day, I do well banking smaller, more consistent profits. I am a big fan of Christopher84's
Scalper. His strategy helps me to anticipate when price is likely to make a move at particular fib levels. Then I aim for targets based on structure and/or fibs. My trading day is usually 15-90 minutes. I can't stand watching charts all day. If my setup doesn't happen early, I'm content to take the rest of the day off.
@Morris, I know what it is to lose a bundle learning to trade. The best advice I ever got was to stop trying to trade everything and pick ONE instrument to watch and learn how it moves, when it moves, and then find a strategy to exploit those moves. I learned a lot by looking at the same instrument across multiple timeframes (e.g., a 5 min, 15 min, and daily chart plotted side by side). I also kept a journal of every trade. It was brutal looking at all my losses but it helped me craft a trading plan based on my strengths (and there weren't many, believe me!) I kept a spreadsheet of the indicators that worked and those that didn't. I took screenshots of entry and exit on every trade and looked for patterns in my wins/losses. It was a lot of work but it helped me figure out the bad habits that were causing me to lose and the aspects of trading that I needed to learn more about.
I read a lot too but finally realized that I don't have to be a price action expert. All I need to do is recognize one aspect of price movement that tends to repeat itself over and over. If I can recognize it when it happens, it doesn't matter too much what I can't recognize as long as I'm using good risk management.
Finally, please remember that you are trading against algos and institutions that can place hundreds of trades in the time it takes you to click your mouse. One thing I've found interesting lately is to plot the Williams
go pro indicator. I don't use it for signals. I use it watch where retail trader sentiment is highest because once there is a lot of retail sentiment in one direction, the institutions tend to come in and flush them out. If I'm in a trade that is aligned with strong retail sentiment, I tighten my stops or get out if I have a good profit.
Best wishes and happy trading.