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Dave Wyse

Highly Recommended

Hari Seldon says Dave Wyse is the best trader in the country he knows, much better than himself and Pete.

Multi-Timeframe Momentum Setup

He has an interesting setup with:

  • Current timeframe momentum
  • Multi timeframe momentum (1 day and 15 min combination)

Entry Logic

  1. See if higher timeframe is already bullish
  2. Wait for current one to turn bullish from existing bearish
  3. Then enter

Exit

Exit is on HA doji candle.

Additional Checks

  • Be aware of any existing resistance levels like VWAP, 15 EMA on 5min chart
  • Check other obvious S&R levels
  • He also has another indicator which calculates RS w.r.t. SPY or QQQ or whatever index that ticker follows

Core Philosophy

Institutional Behavior

His main logic is that when momentum is high it implies institutions are buying it. And his idea is that institutions make a buy and then just sit quiet for retail to buy little bit by little bit.

His idea is to best find these moments where retail step in and buy.

This is similar to FVG in Lux Algo? Maybe, maybe not.

Key Quote

On Beating Institutions

"You cannot make money in trading by beating the institutional investors. We can only beat and steal money from other retail investors."

11 Most Common Retail Trader Mistakes

The Deadly Sins

  1. Not considering current market conditions
  2. Over Trading
  3. Trading your P&L instead of technical
  4. Trading what you think instead of what price says
  5. Over leveraged (too much risk)
  6. Not using daily chart for swing trades
  7. Lack of Patience
  8. Forcing Trades (related to lack of patience)
  9. Attempting to pick tops and bottoms
  10. Not waiting for confirmation to enter a trade
  11. FOMO (fear of missing out)

Source: YouTube Video

Caveat

Unknown Long-Term Performance

Dave is selling high win rate with his system. We don't know what his true win rate over a long period of time is. In his video he shows over few weeks. We don't know how his system works on any chart, say NVDA on 5 min basis tested for years.

Notes

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source: https://www.youtube.com/watch?v=AoGr5QXhDU4

His setup screenshot:

1765169674738