General question for experienced traders from a relative newbie

[squatsandstonks]

As a newer trader, there are an overwhelming number of indicators, and perhaps even more so ways to scan for trading opportunities. I have acquired a fair amount of knowledge, but now the problem is finding trading opportunities in the general market, whether that be for day trading or swing (I do both). There are so many different ways to scan....unusual volume, momentum breakout, price near previous high/low/close, VWAP bounce, bollinger band squeeze, moving average crossovers, heikin ashi candle color change....the list goes on for years, therefore I would like to ask the experienced traders on here, which of these do you find the best opportunities from, that you would recommend to a newer trader, whether they be free ones found on this site, or even paid scans? Any advice is deeply appreciated!

 

[rad14733]

@squatsandstonks The honest answer is whatever works best for you and your trading style... The only way to determine that is by experimenting with the various concepts you mentioned to see what you are most comfortable and, more importantly, confident, using... If we all were comfortable with the same indicator system and trading style there wouldn't be such a robust selection of choices at our disposal... In addition to that, sometimes we need change... While we should never hop from one system to another constantly there are times, such as when we lose confidence in our trading, that a new system can help us regain the confidence we need in order to regain success... Many of us have been there, myself included...

All that said, I prefer systems that focus on momentum as I mainly scalp and day trade... But that doesn't mean I don't also pay attention to longer term trends... As your research may have shown, I have used most of the concepts you mentioned... For me, some work better than others... What I use right now is what works for me right now... For some traders it's price action but for me, most of the time, it's momentum...

The big question here is what works for you...??? Only you can determine that... Here is a suggestion for how to determine that... Open several chart windows and configure each one with a different system, or combination of indicators, and see what your eyes and mind work best with... Check them across several timeframes... See if you can visually track a few mental trades in them... You'll know soon enough what works for you and what doesn't... Maybe a swapping one indicator out at a time until you hone in on your system... It may take hours, days, or weeks, but you'll know...