Trading Strategy

I love this platform. So many helpful posts , strategies and indicators. Thanks to @BenTen and others for sharing selflessly.

I have a few questions for Day Trading (not Swing Trading) low float stocks in the $1- $15 price range :

  1. I have tried a few indicators from here: MACD BB, EMA VWAP. Super Trend, TTM Squeeze etc. In Hindsight all of those make sense. But during live trading, often I dont see a clear picture. Based on your experience, which ones are proven to be more accurate than others (if you guys have backtested).
  2. Time Frames: Do you guys have any suggestions for trading on 1min vs 3min vs 5min etc for Day Trading?
  3. Level 2: Do you guys see TOS Level 2 accurate as against other platforms'?
 
@thealphabreed In reality, only you can find the answers to your questions and determine what works bet for you... I could tell you what I do but my trading style could be entirely different from yours, even for day trading... As for Level 2, again, that would be a subjective answer... For timeframes, I see 1m as too short and prefer 2m, 3m, or 5m, depending on asset and current market volatility... So, again, it comes down to what works best for you...
 

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

@thealphabreed In reality, only you can find the answers to your questions and determine what works bet for you... I could tell you what I do but my trading style could be entirely different from yours, even for day trading... As for Level 2, again, that would be a subjective answer... For timeframes, I see 1m as too short and prefer 2m, 3m, or 5m, depending on asset and current market volatility... So, again, it comes down to what works best for you...
I tend to agree with you. I see too many false moves and noise on the 1min even for scalping. I have been trying the 3min lately.
 
I love this platform. So many helpful posts , strategies and indicators. Thanks to @BenTen and others for sharing selflessly.

I have a few questions for Day Trading (not Swing Trading) low float stocks in the $1- $15 price range :

  1. I have tried a few indicators from here: MACD BB, EMA VWAP. Super Trend, TTM Squeeze etc. In Hindsight all of those make sense. But during live trading, often I dont see a clear picture. Based on your experience, which ones are proven to be more accurate than others (if you guys have backtested).
  2. Time Frames: Do you guys have any suggestions for trading on 1min vs 3min vs 5min etc for Day Trading?
  3. Level 2: Do you guys see TOS Level 2 accurate as against other platforms'?
Hi, i trade lowfloats and based on my experience and backtesting you need to look at higher timeframes if you want to catch the big waves. 1 or 2min is too much noise so i would recommend at least 3min but preferably 5min or even 10min sometimes if volume is very high to see the intraday trend changes.
 
Hi, i trade lowfloats and based on my experience and backtesting you need to look at higher timeframes if you want to catch the big waves. 1 or 2min is too much noise so i would recommend at least 3min but preferably 5min or even 10min sometimes if volume is very high to see the intraday trend changes.
Yeah I have been playing with entries on 3min and looking at 5 and 15min for trend. But i kept going back to the 1min . Trying to build discipline using the 3min. What I find challenging on 3min is when there is a spike in volume, I dont see an entry until that 3min candle closes
 
Yeah I have been playing with entries on 3min and looking at 5 and 15min for trend. But i kept going back to the 1min . Trying to build discipline using the 3min. What I find challenging on 3min is when there is a spike in volume, I dont see an entry until that 3min candle closes

Split the difference and try 2m... It took time but I finally realized that 1m is just to short of a length of time, with candles and volume too erratic to make solid trade decisions... And after using 5m and 3m the moves were too broad... In the end, 2m serves as a happy medium that I can comfortably live with... Not too long and not too short even for scalping... For day trading I can go 5m, depending on the asset, and also monitor 2m or 3m for sudden movements prompting an exit...
 
Split the difference and try 2m... It took time but I finally realized that 1m is just to short of a length of time, with candles and volume too erratic to make solid trade decisions... And after using 5m and 3m the moves were too broad... In the end, 2m serves as a happy medium that I can comfortably live with... Not too long and not too short even for scalping... For day trading I can go 5m, depending on the asset, and also monitor 2m or 3m for sudden movements prompting an exit...
For breakout, do you take the entry/exit on 2, 3 or 5min? And same for pullback entry to the EMA or vwap?
 
For breakout, do you take the entry/exit on 2, 3 or 5min? And same for pullback entry to the EMA or vwap?

I don't use VWAP and don't solely rely on EMA... I monitor several different trading systems... Entries are timed on the 2m and most exits are based on profit targets when scalping... For day trading the exits are based on a combination of things including multiple timeframes and systems... One thing to consider is being more interested in maximum number of winning trades, not on maximum profits... One begets the other in the long run...
 
I don't use VWAP and don't solely rely on EMA... I monitor several different trading systems... Entries are timed on the 2m and most exits are based on profit targets when scalping... For day trading the exits are based on a combination of things including multiple timeframes and systems... One thing to consider is being more interested in maximum number of winning trades, not on maximum profits... One begets the other in the long run...
I follow a similar style for profit taking. Would love to discuss more with you some time
 

Similar threads

Not the exact question you're looking for?

Start a new thread and receive assistance from our community.

87k+ Posts
327 Online
Create Post

Similar threads

Similar threads

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