How to Day Trade: Indicators (Ep. 3)

How to Day Trade: Indicators (Ep. 3)

Author: Anarchy Analysis and Strategy Co. July 1, 2024 Duration: 9:38
Some of the most common tools used in day trading are actively slowing down your progress. In this episode, we unmask them! Key Takeaways: There are an infinite number of indicators and indicator settings to use. This makes wading through these as a beginner almost impossible. Indicators simultaneously show you too much information (causing false trade signals), and yet show you nothing new. Every indicator is simply another way of viewing what is already on the chart. Overuse of indicators and fully systematizing a trading strategy actually creates a randomized trading strategy. There is no plug-and-play strategy that can make money or we'd all be millionaires. Because of this randomization, losing traders become breakeven traders and think they made progress. But this creates a cycle that they can never escape, because to do so would mean losing again. If you had a money printer you wouldn't sell it for $20. Neither would that guru online. Do NOT pay for an indicator. Backtesting data is easily fudged by backwards engineering the constants in the indicator itself. Conclusion: Indicators are just a simplified way of viewing what is already on the chart. There is nothing special about them, and there is NO combination of indicators that will ever create a winning plug-and-play strategy. They are distracting you from what will actually make you money. Price action. Remove the indicators from your chart and become intimately familiar with your chart. Resources: Episode on strategy: https://open.spotify.com/episode/1cqIJa3Z0WXrC3whgWyS2A?si=4d41_u4bQTeSihw_Qh5B1Q Overdiagnosing Article: https://www.bu.edu/articles/2011/medical-overdiagnosis-bad-for-you-good-for-business/ Day Trading with Astrology: https://pro.thestreet.com/trade-ideas/yes-you-can-effectively-trade-stocks-using-astrology Socials: Website: www.Anarchytrading.com Twitter: @Anarchytrading YouTube: @Anarchytrading

Most conversations about day trading are filled with promises of easy wins and complex systems that rarely deliver. Anarchy: Day Trading for Rebels takes a different path, built on the stark reality that the vast majority who try this fail. Hosts Jordan and Levi from Anarchy Analysis and Strategy Co. operate from a simple premise: if you want a different outcome, you can't follow the same advice everyone else is using. This podcast cuts through the noise surrounding forex, crypto, futures, and options to examine what actually creates sustainable results. You'll hear detailed breakdowns that challenge popular myths and a relentless focus on the foundational pillars that are often ignored-psychology, disciplined risk management, and unwavering consistency. There's a clear disdain for chasing secret indicators or paying for signals, replaced instead with practical, actionable discussions aimed at building a trader's resilience and process. It’s for those who are skeptical of the mainstream financial gurus and want a straightforward, no-nonsense dialogue about the real work involved. Tune in for a business-focused conversation that values strategic thinking over hype, designed for the entrepreneurial mind ready to question everything they've been told about the markets.
Author: Language: English Episodes: 100

Anarchy: Day Trading for Rebels
Podcast Episodes
Become Unstoppable by Changing Your Day Trading Identity [not-audio_url] [/not-audio_url]

Duration: 12:12
Do you have bad trading behaviors that you'd like to get rid of? Levi talks about his experience with implementing a mantra that he tells himself every morning. We talk about how changing your identity is the most import…
Is Account Flipping Legit? [not-audio_url] [/not-audio_url]

Duration: 14:24
Social media is full of people posting their impressive flips of $100 accounts to $10,000 (or more!). But is it legit? And is this something that you can feasibly do with enough practice? We pull back the curtain!
3 Day Trading Secrets No One Else Will Tell You [not-audio_url] [/not-audio_url]

Duration: 17:42
Levi gives three unique secrets to success that you won't find almost anywhere else. Listen to uncover how you can significantly speed up your learning curve, master a winning strategy, and be more consistent at your jou…
Don't Let Day Trading Ruin Your Life [not-audio_url] [/not-audio_url]

Duration: 16:05
Levi and Jordan talk about how to treat day trading with respect, as it is one of the most dangerous careers for your finances. Lives can be ruined in seconds... don't let that happen to you.
If You Couldn't Fail... What Would You Do? [not-audio_url] [/not-audio_url]

Duration: 12:14
Today, we talk about how failure--and more specifically, fear of failure--holds us back. What would you do, and how would you behave if you knew you would succeed? Is that even a good question to ask? And how does that a…
Beginners Luck and Embracing Pain [not-audio_url] [/not-audio_url]

Duration: 13:24
We answer a newer trader's question: am I just lucky, or am I really good? What should you do when you start seeing success, either as a beginner, or as an experienced trader? Should you take it easy... or step on the ga…
The Science of Fundamental Analysis: Is it Important to Day Traders? [not-audio_url] [/not-audio_url]

Duration: 15:37
Is fundamental analysis (the study of the underlying things that move the market) important to understand for day traders? Does it make a difference whether you're a swing trader or a scalper? Join us as we discuss the p…
Why Higher Timeframe Analysis is Making You Worse [not-audio_url] [/not-audio_url]

Duration: 14:21
Levi shares about his struggle with forming a bias about what the market is going to do, and we explore ways to fix that. Jordan shares a spicy hot take: higher timeframe analysis is the main cause, and is hurting your t…
Day Trading Crypto? [not-audio_url] [/not-audio_url]

Duration: 17:04
We discuss whether day trading crypto is possible, and whether it's a good idea. We are long-time crypto investors, so can we apply our day trading knowledge to successfully scalp it? Listen to find out!