/biz/ - Business & Finance

>AMC

I'M RECOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOVVVVVVERING!

>>24644120
yeah but i don't use the keltner when day trading. the hourly (or daily) time frame is long enough where MM's can't fuck with it and stronger overall patterns start showing up from the hivemind. as far as i can tell intraday is best treated as completely random, but it's still a truism for the most part that "price moves in waves" so i use the williams%R to find pullbacks in trends indicated by moving averages and then enter when price returns with the trend, and then scalp that shit with a 1:1 risk:reward. seems to be doing pretty well so far, but i really need to stop being lazy and actually learn how to code enough thinkscript to backtest a huge sample size of data with different risk reward structures and indicator settings to see how they perform over a fuckload of trades.

the theory is sound, though. if the trend is up, look for price to go down and then enter when it starts going up again should have a high probability of profit statistically. idk if i can add anything to it to make it better though than just the W%R and two simple MA's. any advice is appreciated. im only risking around $20 a trade btw, but if it's profitable for a long enough time i'll probably look into coding a bot to automate it for me.