Strategy
You’ll have to find your own strategy. It’s going to take hard work and effort over time. You shouldn’t change your strategy frequently—stick to one or two at a time and focus on mastering them.
Idea #1 – Market Structure
Market structure is easy to understand. You can learn everything there is to know about it in a 30-minute YouTube video. It’s a good starting point and more than enough to be consistently profitable. My advice: look for perfect setups—you’ll get fewer, but with a higher win rate. Market structure trading, in my opinion, is about quality over quantity, and it involves a lot of intuition. If you feel like a trade is a guaranteed winner, it might be a good one to take. Don’t underestimate intuition.
Idea #2 – SMC
Smart Money Concepts.
Not always “smart,” but they still work. Harder to understand and more difficult to spot setups compared to market structure, but they often give higher risk-to-reward ratios.
I’m not a fan, but some people make them work. It’s always a good idea to understand and learn more concepts. Again, lots of YouTube videos and other resources are available.
Idea #3 – Indicator Strategies
If indicator X does/crosses/goes above/goes below Y, then enter.
These strategies get a lot of criticism in the trading community, but they can work, and they’re the fastest to backtest if you know how to code.
Again, I’m not a fan, and I think 99% of strategies you can find on the internet are bad. But if you combine indicator strategies with your own ideas and maybe some intuition, you can definitely make them work.
Idea #4 – Orderflow
I don’t know much about order flow trading, but I’ve heard a lot about it recently, so it might be worth looking into on your own.
Idea #5 – Market Opening
Again, I’ve never traded like this, but there are a lot of people who like to trade during the official market open. You often get large moves, and it happens at the same time every day, so your trading might only take an hour or two.
Definitely sounds like an interesting approach, and if I didn’t already have a very profitable strategy, this is probably what I’d look into after market structure.
Fundamental Analysis
I’ve never used fundamental analysis as a day trader or even a swing trader. You can look into it, but honestly, it seems like a waste of time unless you’re planning on long-term investing—Warren Buffett style.
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