what data is relevant for different timeframes?

Discussion in 'Strategy Building' started by mute9003, Feb 13, 2025.

  1.  
    #11     Feb 14, 2025
  2. mute9003

    mute9003

    webull has that feature i use it often also.
    i also have the tradervue account but its free so limited in what it shows(40 dollars a month for that is fn stupid expensive)
     
    #12     Feb 15, 2025
    HawaiianIceberg likes this.
  3. mute9003

    mute9003

    ive been watching his daily recaps religiously for last few months. he seems to be good at what he does. i tried trading at work from my phone but that is indeed a stupid idea. now i just keep track of chart movements for the purpose of seeing when market dynamics change like when we had massive spikes right after closing i was getting some good wins there until it changed to random afterhours spikes
     
    #13     Feb 15, 2025
  4. Sprout

    Sprout

    It sounds like you are at the beginning of your trading journey. The constant context switching without a methodology will most likely lead to burnout. As you stated, you're focused on intraday LTF and watching 1 sec chart. The math on that being a productive strategy for a manual discretionary trader with a scalping strategy on Webull leads to washing out.

    Maybe you're the exception, best of luck.
     
    #14     Feb 15, 2025
    HawaiianIceberg likes this.
  5. mute9003

    mute9003

    i have one second chart open on second monitor to keep an eye out for movement. i dont trade off one second chart directly i use 1 minute and 5 minute usually and switching to 30 15 seconds when needed or 2 5 15 minute 30 minute charts when needed i have it setup for fast switching where im not wasting time clicking between them

    i only ask here about 1 second chart because there is alot of interesting shit happening on one second chart that i dont understand so i come here to ask but everyone for some reason assumes that because i asked i must be trading off 1 second chart.

    but i feel like reading news and other market events is where im lacking. right now im basically trading off the chart alone because i only know basic news or for example how to check for upcoming RS ( pump RS flash news then offering etc)
    and few other event chains that i understand but i dont know about for example financial statements and how many of them will affect price. or alot of other news and how they usually affect price movement.

    major economic events for example i look at the calendar and there is a scheduled economic event coming up in a week for example some government announcement or for example trump tariffs i dont know what to expect from that kind of news i keep trying to listen to videos about that but its just one big trashcan of opinions on youtube so i cant really make sens of all that random information yet

    how did yall learn that is there a book that i missed or a video that goes over types of news and what kind of reaction to expect from market?
     
    #15     Feb 16, 2025
  6. someone once told me "If you're trading off the news, you're already too late". They also told me "Buy the rumor, sell the news"
    While my trading ha nothing to do with the news (other than sitting out during major announcements), the advice is solid
     
    #16     Feb 19, 2025
    mute9003 likes this.
  7. When it comes to the data, it really depends on what you're planning to trade. You've gotta nail down what you're actually trying to figure out. Once you've got that sorted, you're basically looking for an edge—something statistically solid that you can take advantage of. I don't know your background, so it's a bit tough to give specific advice. I used to hang out in Tim Sykes' forums years back, but trading OTC and penny stocks just wasn’t my thing. Regardless of what anyone says, he's one of the good guys. If you can look past all the marketing, he really knows his stuff with charts and his version of fundamental analysis, which is more about understanding the beast he’s trading and staying on top of his game. He’s transparent too, posts all his trades for review, which makes him easy to check out. The constant marketing blitz is a pain though, and it kinda buries the real value of his educational stuff—you have to dig through all that.

    Tom Hougaard is another solid choice, and he puts everything out there for free. He’s into Index futures. You can verify all his trades, so that might be worth a look. He’s a bit unpolished, called me a cunt a couple of times, lol, but there’s real value in what he offers. He trades price action, kind of like Al Brooks (who's also good once you get past his fancy terms.)

    Cameron, or whatever his name is, over at Warrior Trading, not so much. After the FTC came down on him, and from what I see, he seems to be creating a market for himself by hyping up whatever he wants his group to trade. That said, he does have a knack for spotting what’s likely to move during the day. Still, I’d tread carefully there. He's basically playing the same game as Sykes but not in the OTC.

    But back to your actual question about data. What's relevant really depends on what you're trading. Hougaard sticks to the chart right in front of him and maybe some intermarket stuff between the indices. Sykes is all about riding momentum in OTC markets. Their needs from data are worlds apart. Most of my time, like 99%, is spent poring over data, and maybe 1% actually hitting the buy or sell button. I grab anything I think might help and test it away in Excel and Python. A good start is to pick someone you think has the right idea, verify if their trades are legit, and then try to figure out how to test whatever they’re talking about. It’s kinda funny how many of the online "gurus" you can knock down with just a basic Excel sheet. Most brokers let you download data, and you can test a ton of stuff with just OHLCV or tick data. As you try out other people's ideas, you’ll find stuff that catches your eye and start being able to test your own ideas.
     
    Last edited: Apr 10, 2025
    #17     Apr 10, 2025
    mute9003 likes this.