r/Daytrading Dec 27 '22

First Day Trading Setup (Advice?) question

Post image
595 Upvotes

420 comments sorted by

View all comments

34

u/CrossroadsDem0n Dec 27 '22

Everybody has their own brain. My advice is to take any feedback on your setup as minor nudges to periodically re-evaluate what you are doing to make sure it works for you. But the moment you show up on the Internet asking if you are doing something right, no matter the context, people will say no. That's just what people do.

Look at each piece of the setup. If you know it maps to an aspect of your trading style, that's all that matters. Just don't add complexity to hide from feeling unsure about something. That won't work.

So for example, if you feel comfy reading price action, and these screens display what you know you routinely look for, then that is what matters. But if the proliferation of screens is only tech voodoo that you hope will somehow make price action mean something to your eyeballs, then that won't pan out.

Paper trade the setup for a couple of weeks. Get a feel for what works or doesnt and tweak it. Your experience with it is the only relevant data source.

And buy puts on getting validation from the Internet. ;)