The ONLY 3 Indicators I use to make $3,291/Day Trading

Trading Strategy Overview - The core strategy revolves around identifying areas where price is expected to move in a specific direction, while maintaining contained risk [7][8] - The strategy uses a combination of indicators, price action analysis, and confluence factors to filter out noise and identify high-probability trading opportunities [9][20] - The strategy emphasizes simplicity in charting to improve clarity and repeatability in trade execution [7] Key Indicators and Tools - The strategy uses custom indicators like "it Foundation" to identify the New York Stock Exchange open at 9:30 [5] - "Inevitable Trade Pro Plus" is used to highlight overvalued and undervalued areas based on RSI [5] - Trend line tools, trend-based Fibonacci extensions, and rectangle boxes are used for technical analysis [6] - Lux Algo's fair value gap indicator is used to identify potential areas of price reaction [6] Core Trading Principles - The strategy focuses on identifying trends after the New York open at 9:30, looking for price movement in a positive or negative direction [10][11] - Identifying overvalued or undervalued areas is a key component, but these indicators should not be used in isolation [12][14] - The strategy incorporates "change of character" to identify potential trend reversals [15][16] - Fair value gaps are used to pinpoint high-potency areas for potential trades [18][19] Risk Management and Profitability - The trader aims to achieve approximately five positive risk factors per week, which translates to one per day [8] - The strategy involves containing the downside and allowing winners to run [9] - The trader emphasizes the importance of consistency and letting winners run to maximize profitability [56] - The trader's win rate is in the high to medium 30% range, indicating that managing losses is crucial [27] Confluence Factors - The "oversight underside retest" is a key confluence factor, involving price breaking and retesting trend levels [29][30] - Fibonacci projections are used to identify potential trend reversals based on the golden ratio [33][34] - The strategy considers whether a five-wave pattern is complete and if the Fibonacci levels align with potential reversal points [36][37] Entry Model - The entry model involves waiting for price to come down into the midpoint of a fair value gap, known as the consequential encroachment level [38] - The trader anticipates these levels and positions risk outside of the candle producing the fair value gap [39][41] - Risk is reduced systematically as the trade moves in the desired direction [53]