PowerX Strategy "PowerZ"

[IgazI]

Crypto is still just moving sideways at this point.

Wake me up when something interesting happens.

30 minute line chart:

sheGO_up_sheGO_dn_sheGO_.png (123.07 KiB) Viewed 775 times

[IgazI]

If you were plotting your own charts at home, you would be looking at the daily, weekly, and monthly HLC bars, and the intraday would just be used to follow along with the current price action. . .place orders, set stops, whatever.

The daily bar was updated either at the end of the day or the end of the week.

If you needed to know the intraday then you plotted the intraday, but if the chart made a run on the daily then you would just manage it from the daily. . . . unless price started moving sideways and you were bored and you just wanted to take a look-see.


Day trading is sexy, I get it, and even I am allured by their time-tight bodies

but I guarantee you that you will have greater success if your primary focus is the larger charts:

a few people achieve great things on small charts, but most people will fail. . .
if you want to know if you're special then just look at your P&L over the last three quarters.

ADA_2023_31_01.png (107.54 KiB) Viewed 721 times

[nonibadsha]

If you were plotting your own charts at home, you would be looking at the daily, weekly, and monthly HLC bars, and the intraday would just be used to follow along with the current price action. . .place orders, set stops, whatever.

The daily bar was updated either at the end of the day or the end of the week.

If you needed to know the intraday then you plotted the intraday, but if the chart made a run on the daily then you would just manage it from the daily. . . . unless price started moving sideways and you were bored and you just wanted to take a look-see.


Day trading is sexy, I get it, and even I am allured by their time-tight bodies

but I guarantee you that you will have greater success if your primary focus is the larger charts:

a few people achieve great things on small charts, but most people will fail. . .
if you want to know if you're special then just look at your P&L over the last three quarters.


ADA_2023_31_01.png

You confuse me..
Over on Alias's thread you try to help me.. and I greatly appreciate it. But then here in your own thread you say this. What to do

[IgazI]

You confuse me..
Over on Alias's thread you try to help me.. and I greatly appreciate it. But then here in your own thread you say this. What to do

Although I have been trading for over 20 years, and I do know how to day trade, I do not spend my time day trading.

If you want to learn to day trade then you should learn to trade from someone who spends their time day trading.

This being a forum, I am going to give you my 2 cents and you are free to take it or leave it.

do_this.jpg (9.32 KiB) Viewed 696 times

[nonibadsha]

You confuse me..
Over on Alias's thread you try to help me.. and I greatly appreciate it. But then here in your own thread you say this. What to do

Although I have been trading for over 20 years, and I do know how to day trade, I do not spend my time day trading.

If you want to learn to day trade then you should learn to trade from someone who spends their time day trading.

This being a forum, I am going to give you my 2 cents and you are free to take it or leave it.

do_this.jpg

And I appreciate every time you help me.. I really do.
Not just you but Alias and everyone else.

I did not mean to sound unappreciative and I'm sorry if that's how I came across.. It was not my intention. Should have kept my mouth shut.

[IgazI]

You confuse me..
Over on Alias's thread you try to help me.. and I greatly appreciate it. But then here in your own thread you say this. What to do

Although I have been trading for over 20 years, and I do know how to day trade, I do not spend my time day trading.

If you want to learn to day trade then you should learn to trade from someone who spends their time day trading.

This being a forum, I am going to give you my 2 cents and you are free to take it or leave it.

do_this.jpg

And I appreciate every time you help me.. I really do.
Not just you but Alias and everyone else.

I did not mean to sound unappreciative and I'm sorry if that's how I came across.. It was not my intention. Should have kept my mouth shut.

That was not my tone.

I'm just letting you know that I am just an old school short-term investor and that I have a completely different time horizon and trading strategy than the other traders here.

You are not going to upset me talk all you want.

[nonibadsha]

If you were plotting your own charts at home, you would be looking at the daily, weekly, and monthly HLC bars, and the intraday would just be used to follow along with the current price action. . .place orders, set stops, whatever.

The daily bar was updated either at the end of the day or the end of the week.

If you needed to know the intraday then you plotted the intraday, but if the chart made a run on the daily then you would just manage it from the daily. . . . unless price started moving sideways and you were bored and you just wanted to take a look-see.


Day trading is sexy, I get it, and even I am allured by their time-tight bodies

but I guarantee you that you will have greater success if your primary focus is the larger charts:

a few people achieve great things on small charts, but most people will fail. . .
if you want to know if you're special then just look at your P&L over the last three quarters.


ADA_2023_31_01.png

What's the difference between the smaller and larger charts?
How or what gives me greater success using the larger charts?

[IgazI]

What's the difference between the smaller and larger charts?
How or what gives me greater success using the larger charts?

Where do I even start, the advantages are too numerous to count. . .

#1 difference: there are no intraday up trends when a daily chart is making a new low, and the result of the close could pull price down for days or even weaks; the daily candle is intrinsically strong.

If you are trading strength then all of your decisions are strong whereas if you are trading a 5 minute chart you always require a greater degree of situational awareness, an awareness which comes with experience, experience which you do not have:

How many traders are affected by the result of a 5, 15, 30 minute candle? and is not everyone 'shook' by the result of a daily or weekly candle?!

The difference is quite clear.

So how do large charts 'help' you? they keep you tethered to strength while you utilize the intraday charts to make better decisions at key points.

[IgazI]

Jpow coming in clutch

Super-dove activate!

[nonibadsha]

What's the difference between the smaller and larger charts?
How or what gives me greater success using the larger charts?

Where do I even start, the advantages are too numerous to count. . .

#1 difference: there are no intraday up trends when a daily chart is making a new low, and the result of the close could pull price down for days or even weaks; the daily candle is intrinsically strong.

If you are trading strength then all of your decisions are strong whereas if you are trading a 5 minute chart you always require a greater degree of situational awareness, an awareness which comes with experience, experience which you do not have:

How many traders are affected by the result of a 5, 15, 30 minute candle? and is not everyone 'shook' by the result of a daily or weekly candle?!

The difference is quite clear.

So how do large charts 'help' you? they keep you tethered to strength while you utilize the intraday charts to make better decisions at key points.

Let's try this.. Where do I start?