First of all please don’t give advice if you’re not profitable.
I got into trading a year and a half ago. I learned a looot but i’m still not fully profitable in paper trading. I do good for some time then it goes back down. I wanna be sure i’m profitable before investing real money.
I’m trying to do day trading. trades that stay an hour or more.
Essentially i’m asking if my strategy is the issue cuz i’m thinking that I might be over analysing.
Step 1: Additional Considerations
- Check for news events and high-impact reports.
- Evaluate market liquidity.
- Avoid trading in risky/unclear conditions.
- Neutral count, Prepare for entry on both scenarios ??
Step 2: Pre-Trade Analysis
- Identify Market Structure:
- Uptrend, Downtrend, Range. DOW JONES
- Premium/Discount Zones.
- Locate Key Levels:
- Support/Resistance Levels.
- Order Blocks & Breaker Blocks.
- Fair Value Gaps (FVG) & Imbalances.
- Analyze Context:
- RIMC: Intention and Direction.
- Supply/Demand Zones.
- Wyckoff (Accumulation/Distribution, Cause/Effect).
- Volume Profile & Harmony.
- Propulsion Blocks, Rejection Blocks.
- Evaluate Patterns:
- Elliott Wave Count.
- High/Low Rotations (HRLR, LRLR).
Step 3: Entry Signals
- Breakout (above resistance or below support).
- Pullback within a trend.
- Confirmed Order Block.
- Market Shift (sudden reversal).
- Validate with Volume.
Step 4: Exit Signals
- Take-Profit: Predetermined target.
- Stop-Loss: Predefined risk level.
- Trailing Stop: Protect gains with dynamic adjustment.
- Market Structure Breakdown
submitted by /u/Rem_Rui_Chisa to r/Trading
[link] [comments]