Day Trading Surges In Popularity, This Won’t End Well

Tradex said:
You mean you have not found a profitable trading system yet?
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I am just a full time option trader. I have not found a profitable day trading system to date and am still looking. Do you have one you care to share with us here?

I am thanking you in advance.
 
ironchef said:
I am just a full time option trader. I have not found a profitable day trading system to date and am still looking. Do you have one you care to share with us here?

I am thanking you in advance.
More...

There are plenty of free trading systems on the Internet, Ironchef.
For example here is one that you can find on Investopedia:
https://www.investopedia.com/articles/forex/08/five-minute-momo.asp

A trader backtested it and here are the results:
https://steemit.com/trading/@yogisawesome/implementing-momo-trading-strategy-in-quantconnect

Experiment with that simple system and see how it goes.
 
ironchef said:
I am just a full time option trader. I have not found a profitable day trading system to date and am still looking. Do you have one you care to share with us here?

I am thanking you in advance.
More...

If you had a very good option system, would you hand it out knowing you will struggle to get best pricing? AND large traders be clipping stop losses. And you do so for free? Vendor's be selling it in ebook and within 2 week It stop working.
 
ironchef said:
I am just a full time option trader. I have not found a profitable day trading system to date and am still looking. Do you have one you care to share with us here?

I am thanking you in advance.
More...

ha. I'd say exactly the reverse.
 
Tradex said:
There are plenty of free trading systems on the Internet, Ironchef.
For example here is one that you can find on Investopedia:
https://www.investopedia.com/articles/forex/08/five-minute-momo.asp

A trader backtested it and here are the results:
https://steemit.com/trading/@yogisawesome/implementing-momo-trading-strategy-in-quantconnect

Experiment with that simple system and see how it goes.
More...
Actually I don't trade forex, only equities. I read the Investopedia article before. As for momo trading of the second article using the following:
"Momo" Strategy
The "Momo" strategy is an investment strategy inspired from Investopedia. The algorithm implemented here is different parameters-wise but the entry strategy is the same.
It uses 2 indicators: 20 Exponential Moving Average (EMA) and 12,26,9 Moving Average Convergence Divergence(MACD).
Feel free to read about them or indicators before proceeding ahead.

Long Entry Rule: Closing Price < EMA and MACD < 0

Short Entry Rule: Closing Price > EMA and MACD > 0

Exit: Trailing Stop loss
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I did this in the past, trying all different combinations of EMA (SMA, GMA..) and MACD, RSI... none worked consistently. They occasionally worked but could be just random luck.

Will try this exact combination again on my equity holdings but I am skeptical.

Thank you for sharing.
 
Handle123 said:
If you had a very good option system, would you hand it out knowing you will struggle to get best pricing? AND large traders be clipping stop losses. And you do so for free? Vendor's be selling it in ebook and within 2 week It stop working.
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@Handle123, honestly I don't have a very good option system. In fact you were the one that pointed me to "dance options around my long term holdings". As a result, I am doing a little better than buy and hold the underlying.

Best regards and thank you for your coaching.
 
ironchef said:
I have not found a profitable day trading system to date and am still looking.
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There were a lot of systems on Wealthlab which had 75%+ wins. This is before WL was bought by Fidelity.
Also I'm not sure if the systems were for daytrading or swing, still take a look.
 
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