what kind of system you find to be most ideal and what kind of system are hard to find. I have been personally very conservative and thought of trading low risk strategies with less but sure profit. The system still failed last series and hence put this poll.
Ps: i have tried the former and I am now looking at additional types to see how it fits.
Hi Lemon Dew,
Good initiative...I voted for the other type ...let me explain...
I am an intra day trader... The types of trading systems you have mentioned in the poll are perhaps with a view of swing trader like you who hold overnight positions....but i am an intra day trader so my ideal day trading system should give the following pointers to me...
1. How much to trade? when trading in line with trend and how much to trade when trading against the trend...How the position size will go up or down depending upon the capital size before start of the week....and profits and losses during the week...for example if i am trading one lot for 40k and i have 200k at the begining of the week i will trade 5 lots...if i make a 5k loss on day1 i will trade 4 lots only on day2....
2. Clear entry level and clear exit levels (Fixed targets and fixed stop loss) say for any trade the stop loss should be around 30 to 40 points and target1/2/3/4 should be 60/ 90/120/160 or more
3. what to do when the position is not moving to hit either way(neither hits target nor stop loss)...how much time i can hold the position like 30min/60min?
4. How to identify a trending or non trending day?
5. It should give at least 2 or 3 trades in a day...
6. At what amount of loss i will stop trading for the day...
That is all i am looking for in an ideal intra day trading system...:clap:
Thanks for this nice initialtive..
:clap: