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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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18881069 No.18881069 [Reply] [Original]

Super newfag here (only been learning for about a week). I think I've got the hang of Think or Swim to the point where I'm going to try day trading paper money this morning.

Only thing I'm still wondering is how the time scaling with the SMA line works. Can someone give me some advice?

I understand to buy once there is a trend confrontation above my 180 SMA line, but since the line scales to the timeframe my graph is set to, how do I know which timeframe I should chose while trading?
For example, everything may be well above the SMA line if my graph is set to show 24 hours, but then if I change it to show the whole week im suddenly under the SMA line. Would it be smart to buy, or no? Or does it depend on how long I plan on holding?

>> No.18881780

Bump frens

>> No.18881801

>>18881069
Just buy BTC, ETH and Link.

>> No.18881934

>>18881801
I already did.

>> No.18882108

>>18881069
i made this pic related, not even larping.

>> No.18882597

>>18882108
Thank you for it. I use it quite a bit

>> No.18882671
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18882671

>>18881934
that’s enough, now just sit and larp

>> No.18883795

Bump please

>> No.18884700

>>18881069
SMA on a 24h graph means nothing. And even if you look at it on longer periods it is proven you will underperform the market if that's your strategy. If you want real advise, you should take a sector that went to shit and read the financial statements of the top companies (yes, investing does not have to be a blind gamble). Then you choose the one with the better ratios and you hold for a few years. Only way to make it.

>> No.18884733

>>18884700
I've already got strategies for long-term investing. I appreciate the advice.

I wanted to start swing trading as a side hustle though since my job doesn't pay what I want it to