Excited to be a Member. +526% Trade Return

tjlizwelicha

Active member
2TZEUYB.jpg


I hope this image opens. Lol

For the newbies and veterans. I was overwhelmed with all the knowledgeable information the site provides. I spent hours after hours reviewing all the information that could be useful (and it was a lot) until I looked at my charts and became even more overwhelmed. Lol. So I decided to take baby steps to see what works for me and advance as needed. I have been trading since the "Stay at Home" order in March. Nonetheless, I learned more from being a member here than I have learned in the past. I posted pics of two of my trades since being a member, and I must say I was delighted.

FYI:
  1. This is the first time that I used a 1 hour chart. I was always under the impression that a lot can change in an hour concerning the marker.
  2. I didn't use my built watchlist nor scanner; I didn't want to be overwhelmed. Lol. So I used the two chart grid open fully.
  3. As @BenTen suggested, to build a watchlist. I used Ben's and added some that I have used in the past.
The Indicators that I used.

1 Hour Chart

  1. Swingarm
  2. Hull Moving
  3. SMA 50 & 200
  4. Buy the Dip (BTD)
  5. Advance Market Forecast
1 min Chart
  1. Swingarm
  2. Trendline
  3. Hull
  4. SMA 50 & 200
  5. Enhanced reversal
  6. Elliott wave
  7. Hot Zone RSI
  8. Aroon Indicator
I was trying to make this short. Lol. Any constructive criticism I am accepting.

I purchased: SPY: Paid $335 Closed with $685 and CCIV: Paid $490 for 2 contracts and still open.

With the 1 hour chart, SPY stayed bullish each hour, while my 1-minute chart was going all over the place. The 1-hour chart was in bullish mode until the market close. Is that the direction the stock will go regardless of the 1 minute going up and down?

As I mention, the 1-minute chart was going from bullish to bearish to include many pullbacks. I would take profit at $584, but the RSI was just below the 50 lines that I decided to stay, which I am glad I did. What indicator will help me to avoid pulling out of a stock too soon?

I really appreciate any help you can provide.
 
Congrats on the gains. Well done.

So I decided to take baby steps to see what works for me and advance as needed.

This is extremely important and I'm glad you were able to realize that. Everyone trades differently, it's okay to learn from others, but you still have to figure out what works for you at the end of the day.

For new traders, I don't recommend the 1m chart. I have never been a fan of it, even when I was day trading back then. I use the 5min chart at a minimum. Ever since I switched my trading style to swing trading, I learn to appreciate the beauty of the Weekly, Daily, and 1HR timeframes. They help to keep my perspective intact.

Keep it up!
 

Join useThinkScript to post your question to a community of 21,000+ developers and traders.

@BenTen Thank you so much. I will definably try the 5 minute chart. For some reason I feel as though the market is going to change or crash during my wait time. I have PTSD from loosing big with TSLA during the split. I guess I was being greedy until Elon talked about the battery the night before released date and the stock price dropped. I will also get familiarize with other time charts.
 

Not the exact question you're looking for?

Start a new thread and receive assistance from our community.

87k+ Posts
408 Online
Create Post

The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
  • Exclusive indicators
  • Proven strategies & setups
  • Private Discord community
  • ‘Buy The Dip’ signal alerts
  • Exclusive members-only content
  • Add-ons and resources
  • 1 full year of unlimited support

Frequently Asked Questions

What is useThinkScript?

useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets.

How do I get started?

We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.

If you are new, or just looking for guidance, here are some helpful links to get you started.

What are the benefits of VIP Membership?
VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. Learn all about VIP membership here.
How can I access the premium indicators?
To access the premium indicators, which are plug and play ready, sign up for VIP membership here.
Back
Top