Humble questions from a newbie

[Ragge]

Hey all!
Hope everything goes well for you!

I am completely new in this world with the hope of being able to be consistent from trading.

I have watched a lot on youtube and read around and understand that it is Risk reward, money management and strictly follow your strategy that is backtested and doing well in the back hopefully can do well in future.

So for some questions:

I see there is alot of strategies around the internet but this could be a completly imaginary by yourself to, right? if you get it strict.

how do you backtest? Manually or put in a script somewhere, what programs need to be used if so?

I have an idéa of an indicator to optimize. I know many say trade from a clean chart but as newbie i think i have found something intresting and would like to get som comments on this if i am totally out of the blue or if it could be on the way for something.

In tradingview put in the indicator:
heikin ashi smoothed buy sell
By coinsspor
- Change the EMA lenght to 500 on 3, 15 min timeframe (may work with higher too). I belive you can follow the price and get very good risk reward, but I need to get the "blur" away, where it is buy and sell alerts very tight to each other.

Am very grateful for any tips to optimize this kind of idea or tell me if this never will work and why.

Thank you!

[BambinoFlex]

Just open a demo account and live test it.

[TheRumpledOne]

...
In tradingview put in the indicator:
heikin ashi smoothed buy sell
By coinsspor
- Change the EMA lenght to 500 on 3, 15 min timeframe (may work with higher too). I belive you can follow the price and get very good risk reward, but I need to get the "blur" away, where it is buy and sell alerts very tight to each other.

Am very grateful for any tips to optimize this kind of idea or tell me if this never will work and why.

Thank you!

Forget about the squiggly line indicators and learn to use HORIZONTAL LINES.

Then, after learning the buttons on demo, open a live account and trade for a dime a pip. You have to have some skin in the game!

[Ragge]

...
In tradingview put in the indicator:
heikin ashi smoothed buy sell
By coinsspor
- Change the EMA lenght to 500 on 3, 15 min timeframe (may work with higher too). I belive you can follow the price and get very good risk reward, but I need to get the "blur" away, where it is buy and sell alerts very tight to each other.

Am very grateful for any tips to optimize this kind of idea or tell me if this never will work and why.

Thank you!

Forget about the squiggly line indicators and learn to use HORIZONTAL LINES.

Then, after learning the buttons on demo, open a live account and trade for a dime a pip. You have to have some skin in the game!

Okey, so rely on the support and restistance from previous time.
I am not completely new to the stockmarket but im new to the strict rules and consistenly trading and would like to learn more from that.

Before I just bought some stocks that many people write about and talk good about, bigger companies with dividends so pretty stable stocks. like buy and forget.

But I belive I can found something that suits me with "rules" to be consistenlty in profit.

[kiwiarian]

Hello, I was wondering what the definition of MOMO is when used in these forums. I thought it was momentum but there seemed to be a couple of examples where it showed a grouping of candles.
Managed to find the definitions for ZLine and Dragon lines which was another new term coming up.
CHeers,

[cheunt3]

Hello, I was wondering what the definition of MOMO is when used in these forums. I thought it was momentum but there seemed to be a couple of examples where it showed a grouping of candles.
Managed to find the definitions for ZLine and Dragon lines which was another new term coming up.
CHeers,

Technically it's momentum, that's why momo.

The definition got interpreted differently by many of kreslik traders but I think it was when Mightyone talked about price, it broke out of congestion and so break-out traders were in profit, so that's momo.

Consequently, that momo is liquidity, hence, traders would target the BO trader's profit, also known as zline.

A lot of momo readers get confused because they don't know if momo has finished and if it is momo.

But you need context. Always.

[kiwiarian]

OK Thanks for confirming, I can subscribe to the Break Out theory which makes sense pushing out from consolidation or the ZL. The ZL sounds like something ICT preaches, this site explains it a lot better IMHO.

[BambinoFlex]

Hello, I was wondering what the definition of MOMO is when used in these forums. I thought it was momentum but there seemed to be a couple of examples where it showed a grouping of candles.
Managed to find the definitions for ZLine and Dragon lines which was another new term coming up.
CHeers,

Technically it's momentum, that's why momo.

The definition got interpreted differently by many of kreslik traders but I think it was when Mightyone talked about price, it broke out of congestion and so break-out traders were in profit, so that's momo.

Consequently, that momo is liquidity, hence, traders would target the BO trader's profit, also known as zline.

A lot of momo readers get confused because they don't know if momo has finished and if it is momo.

But you need context. Always.

Is momo in the direction of your bias or can it be against aka a large pullback?

[cheunt3]

Hello, I was wondering what the definition of MOMO is when used in these forums. I thought it was momentum but there seemed to be a couple of examples where it showed a grouping of candles.
Managed to find the definitions for ZLine and Dragon lines which was another new term coming up.
CHeers,

Technically it's momentum, that's why momo.

The definition got interpreted differently by many of kreslik traders but I think it was when Mightyone talked about price, it broke out of congestion and so break-out traders were in profit, so that's momo.

Consequently, that momo is liquidity, hence, traders would target the BO trader's profit, also known as zline.

A lot of momo readers get confused because they don't know if momo has finished and if it is momo.

But you need context. Always.

Is momo in the direction of your bias or can it be against aka a large pullback?

Yes and yes.

Sounds contradictory but it's not if you're a higher time frame trader then you have 100s of pips to grab either way.