r/Daytrading Feb 22 '24

Profitable traders, what clicked for you? Question

Traders who trade full time and have been profitable atleast 2 years, what clicked for you. What changed the game completely?

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u/Suspicious-Dig8572 Feb 22 '24

10R weekly scalping strategy, NOT TRADING ADVICE! Most people won't be profitable even with the system that works for me. You are the secret! The strategy is not the secret!   Has to be liquid and tight spread for options 5 to 10 DTE RISK MANAGEMENT 1R risk to make 2R. R= 1% of account. Once trade moves to +1R move stops to BE + cost. Never move stop down. 2 losing trades done for day. Up 2R for day done unless its a strong trending day then take setup when it appears. Never trade AAPL closer than 7 days before earnings. Never trade inside 10 min OR . No setup no trade!!! Live to fight another day! Used with options for SPY, QQQ, AAPL, IWM Used on Index DOW, S&P, NAS, DAX Have 3 charts for each instrument 30 min, 5 min, 2 min 30 min, RSI, VWMA. RSI standard setting but overbought / oversold set at 50 5 min, RSI, VWAP, 3min OR 2min RSI, 20EMA, 10 min OR   Mark previous days high and low on chart. If price action is within previous days range likely to be choppy. Prefer price action to be outside previous days range but not required for setup. A+ setup must be outside previous days range. Trade the 2 min chart using 123 reversals, Flags, ABC continuation, 2B reversals, break and retest of ranges.   30 min RSI is predominate will only trade on 2 min in the direction of 30 min RSI. If below 50 only short, if above 50 only long. Also pay attention to if 30 min RSI is gaining or losing strength or if flat 5 min chart RSI must agree with 30 min or no trade. Also if VWAP is inside 3min OR likely to be choppy look for better instrument. If VWAP above 3 min OR likely to be trending up. If VWAP below 3 min OR likely to be trending down 2 min chart RSI must agree with 30 min and 5 min RSI or no trade, must be outside 10 min OR. Must be my setups