Pre-Sales VIP Questions

Learnbot

Active member
I am not VIP member yet, however, thinking about subscribing to your discord and obtaining the "buy the dip" indicator. I just wanted to check something before I subscribe to VIP, would you be able to post an example of 1min chart for TSLA, Apple, ZM or whatever else stock you see fit (not penny stocks plz since I am not that educated to trade small caps yet). I wanted to see if Buy the Dip works for day trading as well as swing.

Edit: This thread has gotten very long. Added some info below for easier access to information.
Summary:
https://usethinkscript.com/threads/buy-the-dip-vip-indicator-question.3790/page-23#post-89427

Helpful links for anyone interested in seeing how VIP members are using the BTD indicator to trade:
Customer's reviews:
More reviews can be found here: https://usethinkscript.com/threads/buy-the-dip-indicator-for-thinkorswim.3553/post-34186
 
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@Yung954 See my comment right above (#29).

In short, alerts are baked into the code, but it will only work for tickers you're looking at on your chart. To get notified via your phone notification, you need to set a scanner, save the scanner as a watchlist, and you'll get notified of new changes within that watchlist. I went over it in our video tutorial here.
 

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@Blasian757 Welcome :) Glad to hear that you're interested in joining VIP. Please go over this thread first.

Options and/or shares should work in this case. I do both, personally. I sell options for premium and also buy shares to swing trade.
 
@Bpositive
  • I trade strong uptrending stocks. I attribute this as the greatest single factor in developing a successful strategy.
  • I look for the regular BTD indicator on mostly 2hr charts, however, I also watch 1hr, 4hr charts, 1day. The other BTD indicators work as well.
  • After the BTD indicates, I check the news. News drives price more than any other factor. If no bad news, I wait for an uptrend to be confirmed w/ the RSM indicator and/or Stochastic - 21EMA Strategy on 20min chart, however, I also watch 15min and 30min charts.
  • I create an OCO sell order where zscore<0 on 2min after the price is greater than the high that it dipped down from. I attribute this as the greatest factor to increases in my profits. Because I don't watch the stock, I don't 2nd guess myself.
Sometimes, the stock keeps dipping after I buy but if the stock has been up every week since the beginning of the pandemic; chances are that it will go back up so I hold unless it hits my very very low stop-loss (which everyone has to determine on their own depending on how much they want to risk). I have only had one trade hit my stop-loss. And that trade was a trade, I should never have made as it didn't really meet my criteria. This strategy doesn't generate very many trades and I am as guilty as anyone about wanting to trade something-anything, occasionally. I am developing the discipline to not trade the "almost meets criteria" stocks.

I make only a fraction of the trades that I used to. But the few trades I do make, result in profits much greater.
 
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The reason why I am posting here is to say that please learn how to TRADE, indicators don't make you money. If you cannot learn how to trade no indicator in this world will make you a success. If you take long trades on Bullish stocks and short trades on Bearish stocks they may work but the probability is the flip of a coin. LEARN HOW TO TRADE, if you put in about a year of learning then you can surely make it. But buy indicator today and make money tommorrow without good knowledge will not work.
If indicators don't work, then why do they have so many different indicators like moving averages, MACD, RSI, etc? If you're trading off fundamentals, then yeah, indicators don't mean squat to you. If you are trading off technicals, then indicators are a pretty important part of your process. Do you trade off a chart without a single indicator? The indicators I use work pretty damn good. My day trades average between 2.5-4% and my swing trades average between 8-14% with some of those hitting the mid 30% range. So, you must be trading solely on fundamentals to not think indicators are important to trading. There's also a difference between trading and investing. Just because a scan returns bad results for your type of trading doesn't mean the actual indicators on a chart are worthless. Just about everything I've seen on here is related to indicators rather than fundamentals.
 
@Learnbot Hey there! For sure. Here are the requested charts.

uzd1G6L.png

Zvy2mCU.png

KrRHPQl.png


I don't really trade on the 1m chart, so I wouldn't be able to answer any questions related to this timeframe. I find the 1m timeframe to be "a bit much" for my style of trading. I hope those charts above will help. Hopefully, we'll get some existing VIP members to chime in and share their opinion.
 
@Learnbot, I primarily trade off the 5min and 10min BTD_STR signals for large cap stocks. However, I do monitor the 2min timeframe while trading small cap stocks under $20.

BA was the only good example of where 2min worked today.

op77JBY.png


However, as it's a lower time frame, it will have more signals. Entries are more precise for bottom picking and top picking, but you do lose a majority of the move each time.
 
@BenTen thank you so much for sharing the pics this indicator looks amazing. @princesly very good information as well, currently I do use EMA crosses and MCAD divergence to get in but you are correct I still need to learn and be better at it. I appreciate the help though. @BoarTrades for large cap stocks (for day trading only) which timeframe do you think BTD indicator is best for. Also thank you for your help/information. All I really appreciate the help.
Daytrading I look at 5min and 10min for large caps.
 
Do all of the VIP indicators work on renko charts? I use renko and will most likely join the VIP. I know there are some indicators that dont work on renko so Im just making sure. Thanks
 
I saw a request in the Discord to describe how people have been using BTD indicator on lower interval trades and thought I would share my experience.
I primarily scalp and have been using BTD to evaluate BULLISH entries for this style of short term trading along with TTM Squeeze, TTM Wave, RSI, and MACD w/ Histogram. My ideal setup is when the three BTD lines converge to indicate an entry opportunity, TTM Squeeze is out of the squeeze (green dots) and has a confirmed bullish bias from a recent bearish move, TTM Wave confirming the bullish momentum, MACD being stretched down and ready for a bullish move, and RSI being below the 30 line.

Attached is my scalps from today on NVDA where I pretty much had this scenario several times -- you'll see that I took three trades that were close to the dip as soon as TTM Squeeze changed colors, while being in an area where all three BTD lines are overlapping.

ablZkvh.png


I don't know if this use case is how the BTD indicator was intended for, but I've been trying it out for ~ a week and it has been working for me on the small set of tickers that I have been scalping.
 
I am loving what i see. I don't know if it's too much to ask. Can i see /NQ 9/17 and 9/18 Buy the Dip 5M charts so i can check and see how it works with another great indicator you guys have. Look out for me as a member next week please.
 

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