I’ve been day trading for the past 6 months, I am overcoming self discipline areas of FOMO, greed, selling winners off early holding on to losers but I am getting better at controlling all my emotions more and more.
I have been working on a strategy for the past month or so I’d say a derivative of Wyckoff method, it’s very boring and I catch myself using the short/long tool sometimes rather than enter a trade. Most of the time I hit TP for when I don’t pull out early, beginner here so I usually pull out early but I see the short/long tool hit TP. Only times I’m in the red is when I don’t pay attention to my rules or enter too early (still working on entry)
Basically I use the 15 min tf and wait for displacement into a key level I have areas of liquidity marked. Once that 15 min candle closes beyond that level I wait for 1-2 or sometimes a cluster of 5 min candle to retest that key level as support or resistance. I enter in the 1 min looking for a fvg or as close as possible to the open of the 15 min breakout candle. I’m familiar with terms like SOS SOW and use that as a confluence.
My question is, is this a valid strategy? I feel like I’m missing something, it seems simple enough and is working eight out of ten times. I can’t help but think this is beginners luck or just that the market is in my favor. I am literally self doubting myself over this strategy. Asia session behaves a little different and even there it does work but it’s much slower and sometimes the spread almost stops me out (could be an entry issue).
Is anyone else familiar with this type of strategy and can help me fill in the blanks?
Also, I trade only NYSE and only start at 9:30AM EST. I don’t trade during 11:30AM EST – 1:30PM EST every session, I don’t trade after 11:30AM EST on Fridays either.
submitted by /u/FewAd4289 to r/Daytrading
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