My Trade setup

Summary

In this educational video, the presenter shares their trading strategies, emphasizing the importance of experience over reliance on indicators alone. They discuss various tools like VWMA, Super Trend, and EMAs, which they've adapted from mentors like Shiva Sir and Ashwini Gujral. The video also covers pivot points, RSI, and volume analysis, illustrating how these are integrated into their trading setup. The presenter provides a detailed walkthrough of their trading screen, explaining how they use software to rank trades and make decisions, with a focus on learning from multiple mentors to create a unique, effective approach.

Takeaways

• 😀 The video emphasizes that while indicators are useful, it's the trader's experience, observation, and knowledge that ultimately lead to successful trades.
• 📈 The speaker's trading setup is a blend of techniques learned from various mentors, highlighting the importance of continuous learning and adaptation.
• 📊 For scalping, the speaker uses indicators like Super Trend Weaver App, VWMA, and V-Vap, which were learned from Shiva Sir.
• 📉 The speaker also employs EMA's, pivot points, and Camarilla pivots for riding momentum, techniques learned from Ashwini Gujral Sir.
• 📋 A ranking system is used to decide on call or put trades based on the price's relation to various indicators like VWMA, Super Trend, and RSI.
• 💹 The speaker uses a software to rank trades, but it can also be done manually, showcasing the integration of technology in trading strategies.
• 📌 The video provides a detailed walkthrough of the speaker's trading setup, including the use of indicators like VWMA, Super Trend, and V-Vap.
• 📈 The speaker discusses the use of EMAs (200, 100, 50, 20) and pivot points in trading strategies, which are crucial for understanding market trends.
• 📊 RSI is used with different thresholds (60 for bullish and 40 for bearish) instead of the traditional 80/20, indicating a personalized approach to indicator usage.
• 💼 The speaker mentions attending mentoring sessions and incorporating the best practices from various mentors into their trading strategy, underlining the value of mentorship.

Q & A

What is the main message the speaker wants to convey about trading and indicators?

The speaker emphasizes that while indicators are important, it is the trader's experience, observation, and knowledge that ultimately make money in trading. Relying solely on indicators without understanding the market dynamics may not be effective.

What are the key components of the speaker's trading setup?

The speaker's trading setup includes a blend of indicators and strategies learned from various mentors, such as Super Trend Weaver App, VWMA, V-VAP, EMA's, Pivot Points, Camarilla Pivots, RSI, and ranking systems based on price levels and indicator positions.

How does the speaker use RSI in their trading strategy?

The speaker uses RSI differently from the conventional 80/20 levels. Instead, they consider RSI above 60 as bullish and below 40 as bearish, focusing on momentum rather than overbought or oversold conditions.

What is the significance of the VWMA and Super Trend in the speaker's scalping setup?

VWMA and Super Trend are crucial for the speaker's scalping setup as they provide key insights into short-term price movements and potential entry and exit points for trades.

How does the speaker determine whether to take a call or put trade?

The speaker determines call or put trades based on a ranking system that assigns points to various conditions such as price being above or below certain levels (Viva, Super Trend, VWMA) and RSI levels, and then decides based on the aggregate score.

What is the role of volume in the speaker's trading decisions?

Volume plays a significant role as the speaker looks for specific volume levels (e.g., 50,000 volume in a three-minute time frame) to confirm the strength of a price movement and decides whether to enter or exit a trade.

How does the speaker use pivot points in their trading strategy?

The speaker uses pivot points, particularly R3 and S3 levels from Camarilla pivots, to identify key support and resistance levels that can indicate potential reversals or continuations of market trends.

What is the significance of the Elder Impulse system in the speaker's trading?

The Elder Impulse system is mentioned as a complex setup that the speaker will discuss in future videos. It is implied to be a part of the speaker's broader trading toolkit.

How does the speaker handle losses in trading?

The speaker follows a rule of minimizing losses by exiting trades when they are small and focusing on taking maximum profits when the market conditions are favorable.

What is the importance of the 'blue dot' indicator in the speaker's trading?

The 'blue dot' signifies a three-minute candle with 50,000 volume, alerting the speaker to potential high-impact price movements and prompting a closer look at the market for trading opportunities.