[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 2.65 MB, 1024x1024, DALL·E 2023-12-31 16.38.00 - A satirical image showing an office desk cluttered with various financial documents, each displaying an absurd mix of technical stock analysis charts .png [View same] [iqdb] [saucenao] [google]
57142680 No.57142680 [Reply] [Original]

ITT we share the precise settings on trading view that allow us to basically print infinite money.

Please only share actual money printing settings here.

Here's mine.

I use the MACD and the RSI on the 4 Hour chart. When it's oversold and there's divergence on the MACD I buy 50% then after it drops I buy another 50% and set a stop loss. If it pumps I buy another 50% and set a stop loss. The opposite for shorts.

Some rules:

Use the weekly and 3 day to confirm market trend and trade with the trend. I cannot stress this enough. If you don't know what you're doing do not try to scalp against the trend, don't try to catch knives. Don't over trade.

Last tip that actually makes this work and without this you will be doomed to forever losses.

risk management. this is the difference between profitable traders and not.

In the simplest terms I can put. Only risk 1-2% of your total investable capital per trade and always always have a stop loss and a minimal 2:1 R:R minimal. otherwise it's not worth it boss. Also don't be an idiot and trade assets or hours where there is no volume or scammy assets in scammy exchanges.

lastly, things that will get your rekt before you can get good: Options, 3x+ leverage, penny stocks/extreme shitcoining, going all in, going all out, doubling down after a big loss to make it all back.

>> No.57142695
File: 30 KB, 329x500, 412MBJ9ojxL3.jpg [View same] [iqdb] [saucenao] [google]
57142695

>>57142680

>> No.57142916

>>57142695
i i read that faggot's book and my portfolio disagrees

>> No.57143749

I spent the last three weeks staring at charts and I'm glad that your tips seem to be more or less the conclusions I came to. Although I've only been using RSI because MACD burned me a few years ago. I can probably start incorporating that into my experimentation pretty soon though.
I'd like to become more disciplined by the end of january. It sounds kind of batshit to me, but right now I don't see any reason not to eventually be making 10% profit trades per day. Though I'm on tigris which has low fees, so maybe 3% if I ever have to move to a big boy exchange.