The market, a dauntingly magnificent world of misinformation, misunderstanding, and potentially rewarding and life changing experiences. The part that makes it even harder is countless unknowingly misinformative narratives perpetuated by people who inherently misunderstand why said narratives are wrong. It's really easy to maintain a system of misinformation and propaganda when the people propagating it don't even realize they are participating in such a network. This is a phenomena noted by Noam Chomsky as something called manufacturing consent. I say this to say 90 percent of people never make money trading, there's a reason for this and I'm here to try and help clear the waters.
I see a lot of really bad recommendations on indicators to use. Here's the thing about indicators and strategies, if everyone uses them they won't work properly. Also there's a particular trait of chaotic systems that make tracking patterns with time/period based systems make the pattern fall apart and they take time to track and develope. Emergent systems that don't depend on previous data far outclass others. I personally use the euhler fourier transform and assorted moving averages. The transform indicates 3 values and angle denoting the directional spin of the current tracked primary value. I source one from volume and one from price itself. If the volume sourced transform starts pumping it means volume is rising. When all 3 lines snap in place it shows that equilibrium has been reached and average price will move from the area it's been fluctuating in the direction of the current momentum. I like to use sine lines to define it's limits of movement and I place a short above price at it's upper limit and a long at it's lower and let price move as it does. Then I place momentum based trades at the current price. Once it catches one of your previously placed trades back off till price moves back to or past average then take profit. You're skill level is really determined by how your trading against the average price. There's literally no such thing as overbought and oversold so the rsi is garbage and everyone uses it anyways. Just had to throw that in there.
Now let's talk about how it's all really the biggest scam and 95 percent of people have no clue. So there's people called "market makers" and "liquidity providers" that have big bankrolls and place both buy and sell orders at the outer edges of price action. What they do is absorb all of the orders of people who couldn't stay liquid then move the goal posts by placing a veritable wall of orders in between two price zones of their choice. Price is going to go in the direction least resistance, which tends to be the opposite of the overall bias, imagine that. The reason this happens is due to some sneaky misdirection I barely caught myself. Get ready, sell orders are shown in red but have higher prices, when price is moving towards the "short sales" you get green candles, vis versa for the buyers/long position. You're also mislead to believe that more buyers means higher price but 97 percent of the time the opposite is true. My social studies teacher in high school was the wife of Charles schwab and she said something about the market that always stuck. The real way to make money in the market is too buy the trades from losers and sell them to the losers on the other side. Play the limits and profit at average. Don't guess the direction at average price unless you're setup to recognize momentum and you understand how liquidity functions.
In a nutshell and too conclude don't listen to just anybody. Think for yourself and think thoroughly through any information presented. I'm available for questions on discord just let me know and I'll send you an invite, thank you have a wonderful day.
