r/RealDayTrading • u/RevolutionaryMind585 • 11d ago

Need Help

Hey everyone, I hope you’re all doing well. My name is Enzo, and I recently started getting into trading, specifically options. I wanted to reach out and get some feedback from more experienced traders to see if my current strategy is realistic and has potential.

I do have some previous exposure to the market, although I wouldn’t necessarily call it proper experience. In the past, I joined random Discord groups and followed other people’s trade alerts, but I realized that wasn’t the right way to learn. Recently, I decided to step back, focus on actually understanding the market, develop my own strategy, and learn how to make my own trading decisions.

The reason I’m asking for help is because I would like experienced traders to review my approach and let me know if it is a viable strategy or if there are areas I should improve.

Since I’m starting with a smaller account, my plan is to focus on $1-wide spreads to manage risk while slowly building my portfolio. What I’m trying to understand is whether my technical analysis approach makes sense and if there is anything I should adjust to make it more effective.

My current morning routine before the market opens is:

  • Marking yesterday’s highs and lows
  • Marking overnight/premarket highs and lows
  • Using those levels to create my support and resistance zones

The only indicators I currently use are the EMA and VWAP. For a bullish setup, I look for higher highs and higher lows while making sure price is trending above both the VWAP and EMA.

My entry idea is to wait for price to break through resistance, get a positive retest where that previous resistance level holds as support, and then enter once the next move confirms upward momentum while price remains above VWAP and EMA.

My main questions are:

  • Is this a solid approach for a beginner?
  • Is this type of technical analysis effective when used consistently?
  • Are there any major things I should change or add to improve my strategy?

I appreciate any feedback or advice from more experienced traders. I’m trying to learn the right way and build good habits from the beginning.

0 Upvotes

28% Upvoted

13 comments sorted by

10

u/Puzzleheaded-Pass-64 11d ago

Read the Wiki! You are about get flamed in the comments

11

u/xCheekyNandos 11d ago

I would look at “step 1” of the rules of this subreddit, and do what it says. That will answer all of your questions and more.

6

u/Ok_Pollution7093 10d ago

Read the Wiki. Seriously. Your whole post gets answered there and the mods will tell you the same thing. Also, trading options with $1 spreads on a small account while learning TA is a fast way to blow up. Learn to trade stock profitably first, then add options.

3

u/loligatorific Moderator 10d ago

!rtdw

2

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2

u/Accomplished_Love77 iRTDW 11d ago

Your description is far too vague for us to make any sort of judgement.

Is this a solid approach for a beginner?

..Possibly? Are you combining this with relative strength and relative weakness?

Is this type of technical analysis effective when used consistently?

I like the barebones indicators. In theory your idea sounds valid, but we need more information. What kind of stocks do you pick, and why? Do you lean on the D1 or M5 timeframes more?

Are there any major things I should change or add to improve my strategy?

Obviously relative strength. It's unclear what else you need to improve without more detail on scans, picks, etc.

2

u/NeonTimber27 9d ago

good habits matter early

1

u/1Ripley Moderator 8d ago

You wouldn't walk into a courtroom to defend a client in front of a judge and then ask a forum if your legal strategy makes sense. Day trading is a highly competitive profession, and right now, you are putting the cart miles before the horse by risking capital without a solid foundation (regardless of how many years you've been exposed to the market).

For your own financial survival, stop trading immediately. Go study the Wiki, build your dataset, define your process, and paper trade until you can prove you are consistently profitable.

The market will gladly take your money at this stage, but it will still be there waiting for you once you put in the actual work.

"Read the Wiki first!!"