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Stalking 2 particularly interesting equities at current.
$INTU & $NOW
Let's take a look at these in detail.
INTU
- Fast move down
- Potential weekly SFP in formation
- Pro trend HTF
- Deviated the low
- Clean 2h div took place (especially nice on RSI)
- Gap above
NOW
- Everything from 4h to 1w overextended on the RSI
- Taking out weekly double stacked lows
- Daily gap overhead
- Hourly div at the lows
Keeping keen eyes on the weekly closes, as if they SFP will be nice confluence. Make or break areas, but these are the HTF inflection points to pay attention to.
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@Trader_Dante at long last. I'm no longer just some turd. I am YOUR turd, and now you must polish me. π
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BTC Analysis
We took out the double stacked highs at mid 94's, but as we did so there were no real double divergences across any timeframe.
Usually (not always but usually) we would like to see a valid double divergence, meaning we get the bear div across both the RSI and the AO for a stronger signal to take a short position and fade the local LTF trend (Full disclosure i wanted to short mid 94's but didn't due to the lack of a double div).
Now we're into 1/2H demand and as we've tapped into it we've produced some significant negative delta, the most we've seen since the 1st Dec.
TLDR if we're to bounce locally then bulls want to see it happen here, if we're unable to without the delta and demand situation, then the sweep will likely play without the aid of a div.
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Breakeven trader?
Stuck in elo hell?
You donβt need new indicators.
You don't need a new system.
You need to make fewer unforced errors.
Error reduction is the fastest route to profitability.
--
Let's begin with a little honest self reflection.
Write down everything that you're bad at as a trader.
Every error. All of them.
Because thatβs the only way you can figure out what youβre not completely shit at.
And I promise you, even if you're on full tilt, you still have a thing or two that you can do well.
I use a lot of tennis metaphors when I teach on stream, so here's another one:
Amateurs play a Loserβs Game β most matches are won simply by missing less than your opponent. Legit nothing fancy. You win by simply screwing up less.
Just put the damn ball in the court.
Pros play a Winnerβs Game β most matches are won by out playing your opponent. You have to out think them, problem solve on the fly and aggressively close points.
Markets are the same.
Once you're a proven winner -> press size, use LTF or flow to snipe entries, execute when someone makes a mistake, apply game theory and out think your competition.
But if you're struggling, just put the ball in the damn court.
Chances are if you're still reading, you're not consistently profitable.
You may run up briefly, but you can't keep it.
You're not a pro.
You're an amateur.
So play like an amateur.
Have one setup that intuitively comes to mind as your favorite? It's probably your favorite bc it makes you more money than the rest of the shit you take.
Gather some stats.
I bet you that you're over 50% win rate with it.
If so...
Take that one stupid setup again and again... and again.
Display the discipline to avoid the rest.
You shouldn't care about getting better at them yet; they're -EV for you.
By adding more setups all you're doing is lowering your win expectancy once you understand what your strength is.
Think of it like a video game: You donβt split points equally across every skill tree. You focus on one and build around it.
Is there one coin you trade better?
> Stick to it. Remove the rest from the watchlist.
Better at trading ranges?
> Stop trading trends.
Trade better on H1?
> Stop yourself from trading other timeframes.
The more variance your remove from the equation, the better.
TL;DR;
Your desire to learn it all and participate in everything has prevented you from consistently doing the one thing you can probably already do well.
If you're an amateur.
Leave the ego at the door and play like an amateur.
Put the ball in the damn court.
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It's important not to allow one bad decision to turn into another one. I've openly admitted that I longed $ETH at 34xx and longed $SOL at 157 and closed them both far too early. I wanted better R/R for bigger size, got greedy, and fumbled my perfect entries.
With that said, ETH and SOL are now up 42% and 32% respectively in 10 days. Those are pretty big moves for the 2nd and 6th largest cryptocurrencies. I'm not saying they can't go higher, in fact I think specifically SOL still has a good run ahead of it. BUT, I have to remain disciplined and trade setups that provide me with a strong risk/reward opportunity based on price action principles I understand.
I don't just "market" long at any price, most that do will give back their gains anyways because they don't actually have a plan. They're longing off euphoria and borrowed conviction from the thousands of CT accounts a day calling for everything higher, 8K ETH, etc. And yes, I've been waiting, I've been getting front run, and that's a part of the game during strong mark ups. But as said, I will not allow a previous bad trading decision to cause another bad decision. I also won't completely change my long-term profitable strategies based off 10 days off price action.
Gains are easy to get and hard to keep. I haven't shorted once this run up, haven't lost anything, just been getting front run. Patience and discipline are great traits to have as a trader for 11 months out of the year. This just isn't the month. So don't be too hard on yourself if you missed out, this lockout style PA of the last 10 days won't last forever. Always more trades around the corner.
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Been seeing some huge progress from some of the OG members in my discord recently, they've probably been in there for 9-12 months, but the improvements have been radical in that time, truly a joy to witness.
Giving out 5x3 month subs for my private educational trading hub. Want to spread that love further.
Ping me a DM if you'd like to put yourself up for selection, will choose at random in a couple of days π€.
Keep grinding my people.
Hey, @grok, who was the most famous person to visit my profile? It doesn't need to be a mutual, don't tag them, just say who it was