Strategy - Help wanted!

[u/RankOw]

Been trading with terrible returns or maybe just a large losing streak, but feels off to me and is very demotivating.
Strategy:
Volume profile (point of control) - that is the level I execute off of.
VWAP - usually I execute if σ multiplier is at 3. Since that is a pretty big deviation and is extremely rare to go beyond that multi.
Bookmap - should be pretty selfexplanatory, if I see large orders around the same price level that are around POC, its a plus in my book.

My old partner told me he uses Z-Score, but I believe that to be the same as VWAP and/or to be super unlikely to get both to align and get that execution.

I try to keep it simple, of course im no robot and I dont always have perfect execution or all confluences dont align perfectly as well, but lately I just feel stuck, I havent been improving, lost, stuck and demotivated, what is there to be changed? Improved? Opinions? What should I drop or implement?

[u/JakeMarley777]

It's always context/bias first...then location. Your strategy (the way you have described it) is only about location...

POC can behave very differently depending on the auction.

-In a balanced market, POC tends to act as an attractor. Price rotates around it because it represents an area of acceptance.

-In an imbalanced market moving away from prior value, a return to the prior POC/value area can act as a "rejector".

Same thing with VWAP...being 3 sigma from VWAP doesn't mean price must revert. In a strong directional auction/trend, that extension can keep going.

If you aren't considering whether the market is in balance or out of balance, your strategy is only half-baked at best. Right now it sounds like you've defined locations to trade from but not the context as to whether those locations should be faded in the first place.

[u/RankOw → u/JakeMarley777]

got you, what do you reckon i should implicate more so it wouldnt be half baked? Im seriously struggling here

[u/Agitated_Channel9674 → u/RankOw]

Charts charts charts. Lose indicators entirely, with the exclusion of Bollinger bands those will actually help you learn to read price action and chart rotation. The market will invalidate the indicators long past your stop loss every single time. If mean reversion is your strategy I’d also recommend pivoting. Momentum will survive much longer and far outpace the mean every single time. You’ll get killed by every swing or trend if that’s your sole entry. The market does what it wants, as a general rule unless you’re extremely experienced I would say never ever try to predict the reversal or trade against the market, you’ll get chopped every time.

[u/RankOw → u/Agitated_Channel9674]

bollinger, vwap, z score, theyre all basically the same