What works bro? If your current edge have given you up to 80% win rate since the last 5yrs then I'll totally believe your opinion. I've seen many profitable traders using one or two indicators. I believe that any strategy can give you an edge if well refined and understood. Mastering trade psychology, risk and trade management supercedes coupled with a simple strategy can make you profitable over time
@@AA_04 check out for volume or price action indicators; if you're a coder, tweak it until it becomes an edge, backtest and forward test, master it. You'll thank me later. This is a probability game, and you can't be always right. if you can study and master any tool in the market, it could give you an edge. And he's very right when he mentioned that people are lazy. They can't pay the price to master their tools.
RSI and MACD cross-over 😂😂😂😂....Yes u r right Umar. Such social media trading experts can never help anyone to get Edge in the market....I like your work as you always talk real....
Indicators just give you a different persective on price. Thats it. I can predict value of RSI on any chart. It came through practice. Now if you see me trade, you will feel I dont use any indicator. But I have a feel for it, it might not be on the charts, but I know its value with reasonable accuracy. So, use whatever indicator you would like to use. It will help in understanding price action.
Umar, mad respect for you bro. The RSI and MACD does help, but not in Day Trading. I know of two guys who use these lagging indicators on longer term charts which helps them make entries and exits on the one hr chart for swing trades and the one day chart for long-term investment trades. The problem is trying to use them in day trading.
lol it does work a proper risk management says so your trades are no different indicators or no indicators you still have to risk because i promise you you dont know more than what volume does and thats what these indicators are based off of you just know where the higher probabilities are and that is still 50/50 price action isnt king without its queen managing the risk
I appreciate these takes, but they don't provide a solution. For example, if RSI and MACD don't work - what does? How does one acquire an edge? I think Umar is great (and I believe he is a profitable, wealthy trader), but these snippets tend to come across as just pontificating.
You wish? I guess you're the type of trader he's referring to. He's a seasoned trader and he work hard to get his order of results. You can't wish and have it 😅
Developing your own strategy based on price action. Backtest your strategy at least 100x. Your average win needs to be at least 2x your average loss. Example: if your average loss is $50, your average win needs to be $100. If your average loss is 3%, your average win needs to be 6%. Also, test your strategy on different time frames: 1, 3, 5, 15, 30, 1hr. Your strategy will end up working best on one of them. Then, only use that time frame with your strategy.
I disagree, I mean there are probably over 10 thousand indicators in the world, some made by brilliant coders. I don’t believe in a stand-alone indicator but if you mix and match some good indicators with good money management, you can get great results.
Ive been told trade naked charts, modern art lookin charts, ict vs volume etc. I use VWAP, 50/200MA, Cumulative Delta for indicators but I watch the tape like a hawk because thats whats worked and for me for the last two years. Trade your edge. Edging FTW
Steve Burns uses Moving averages but he has been in the game for over 20 years. He is one of the best and experienced traders in the game. So this is subjective.
@@SelfImprovementsOnly-yy9kiday trading to some simply means scalping or being in a trade for couple mins. You can still swing trade the entire day. I trade SPY 95 percent of the time and my trade can last the entire day sometimes. I only use the D&S combined with standard deviation (3 for short and 1 for long) indicator to trade and it works. Most of the time I let the trade come to me. If not, I simply sit on my hands. Over 12 years of rinse and repeat. 😮
@@zamokwakheshezi6798 I get what you're saying, "its subjective", I'm just adding stuff of my experience in the market for 5 years, so the other viewers could see as well
@@zamokwakheshezi6798 yes I understand what you're saying, "its subjective", I'm only adding an opinion from my 5 years of experience in the market to save others time
From what I could tell, blindly following what everyone else is buying or selling via discord is probably one of the most risky thing you could be doing. Not to say that all of them are pure scam but it's really hard to find like the "best" ones. Yall gotta be a complete nerd basically if you want to make any profit here 😂
You should try a bunch of different things and see what makes you comfortable. Setups/edges, all of that doesn’t matter if you don’t have sound risk management, I would focus on dialing that in first and then start trying to find indicators.
Why do you think 90%+ traders are losing ? If it was as simple as some indicators someone as bad as me at coding could make a bot that gives but and sell signals based on these indicators and make everyone millionaires
Do not agree, more than strategy it is RRR and risk management with psychology that matters, you can pick a 10% win strategy with RRR of 4 , u will be still damn profitable
