Well one thing I don't understand is how people use indicators. It's like they listen to a video of someone else talking about it, picking spots of where it's telling you to go short or long and than explaining why its great or why it sucks. You don't have to use indicators or an indicator the way it was intended. Sometimes you can find better ways to use it, other times if you have a deeper understanding of it you can make it work better than others who have used the indicator longer. Also @expiated , what is the over all goal to watch a weekly wrap up video? I am genuinely asking, I've never understood the benefit. Unless maybe you're a swing trader? Who can't go back once the week is done and than explain to you why it happened? Also, if you're saying he's forcasting next week, how would that help intra-day trading, particularly given these swings? And if he can forcast the weekly so well, he should be able to do that on other time frames as well. Again, not debating you, I really don't understand the value.
Do you trade off the 60 min or just use it for analysis and a lower time frame to execute on? I typically trade off the 1min chart and mark higher time frame support and resistance on it. But I use 1min price action to enter and develop a trade.
Price itself is not a good predictor of the future. If you use indicators based on price, they are just another derivative. Either you increase the length of your time frame or come up with other variables to help you predict better. Buy and hold could work too.
Watching price action or watching a DOM, that seems very difficult and not sure how you can consistently catch bigger moves, but maybe someone else can I know I cant. But as far as indicators, how confident are you of your statement? You're telling me the last 'X' amount of bars/candles has nothing to do with the futures bars? People show intent to buy which forms candles, which can you give you clues they want to buy or sell more at certain areas and within candles is price. Or am I misunderstanding what you mean?
Good question, it's about how much is provided for free, to earn trust, vs more comprehensive in depth training & more alerts etc traders pay for. Like free samples at Costco, or shareware vs full version software For example, over 5k traders have registered for my free Saturday webinars, which cover a few great charts, market updates, eventually many go on to join my live room for daily alerts, training and coaching. Bonus: all week I'm doing free daily 3:30pm 'closing bell' webinars you can join at https://trademastery.com/ttofree/ to recap today's hot charts like INO etc
Regarding technical indicators (not incl DOM), you just have to go to place like quantopian and ask the people. They have tested these things to death. alpha is very low. For dom stuff, you are competing with the new masters of universe, HFT. It's a really tough nut to crack You can read this too, but if you have a good mind you should be able to realise that these simple formulas derived from price applied blindly will not give you any edge. Book: Evidence-Based Technical Analysis
Try trade longer timeframe. Less noise. I started trading options in 2013, wasn't able to turn a consistent profit in the beginning. Someone was kind enough to advise me to go longer time frame. That made a world of difference for my method. Of course there are a lot more to the story but in options, time is one of the most important parameters.
True, a very good point. I am generally skeptical about services that teach you how to "make money" but I value services (paid or unpaid) that teach fundamentals and principles behind pricing, market dynamics etc., instead of teaching recipes/black boxes.