Simple Setup for Intraday Trading?

there are leads to strategies all over the internet, including this board. you aren't going to find a lot of specifics. you have to find one that suits your situation and personality, has either real or simulated results that accompany it, and makes sense logically.
 
Quote from syswizard:

Oh WOW, is this ever so true. Here's a story:
I was trading prop 2-3 years ago and a kid showed-up who had good trading knowledge and some experience. He plunked down his $5000 deposit and lost the entire nut after about 3-4 months. Why ? He had no INTRADAY experience. He held losers way, way too long. His reactions were slow and he was reluctant to admit when he was wrong. His win percentage was about 20-30%, so it was obvious he had no entry ideas.
He finally quit, and then proceeded to trade longer-term with options. He ended-up making $15k within 3 months !
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i have already used my full margin for overnight. i don't want to waste my intra-day buying power. my goal is to automate day-trading after i found what works first.
 
Quote from dafugginman:

there are leads to strategies all over the internet, including this board. you aren't going to find a lot of specifics. you have to find one that suits your situation and personality, has either real or simulated results that accompany it, and makes sense logically.
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thanks for the info, i hope to find a TEXT book type metarial so I can study it. most i have found on ET is that somebody came up a little tested idea then it is being discussed. this process is like a headless fly, going nowhere.
 
Quote from qll:

thanks for the info, i hope to find a TEXT book type metarial so I can study it. most i have found on ET is that somebody came up a little tested idea then it is being discussed. this process is like a headless fly, going nowhere.
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Actually there is a =plethora of information here at ET. Every day, someone is passing out informationg, giving hints, and showing by example how they trade profitably, positon, swing and intraday.

But no one is going to packge it and just hand it to you.

You're going to have to work for it.

Regards,

JJ
 
and even if someone did give you their personal winning signals, money mgt, etc it would be useless because you and 99 other guys out of a 100 would tweak it to death.

There is no such thing as "their secrets" The idea of giving away what works for you and it will vanish as a good signal, tactic, strategy is a HUGE MYTH. Learn how to trade and leave the ego stroking to the politicians.

PS, Do yourself a favor when thinking about daytrading by looking at price and volume as stated. Drop the volume and just pay attention to price as intraday bars are forming. (5 min chart), your job will be much easier. Quit looking for reasons NOT to take a trade. Volume is a backward looking indicator. PRICE is what makes the bacon. .. :cool:
 
Quote from bighog:

PS, Do yourself a favor when thinking about daytrading by looking at price and volume as stated. Drop the volume and just pay attention to price as intraday bars are forming. (5 min chart), your job will be much easier. Quit looking for reasons NOT to take a trade. Volume is a backward looking indicator. PRICE is what makes the bacon. .. :cool:
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So true, especially in the emini futures markets....volume crescendos are often the END of a move, instead of the beginning. So by the time you detect the volume, and then act on it, It's "OVAH"....the move "looks" legit (and scary to those on the wrong end of it !), but it ends-up just being a "shake-out" and the market will many times reverse abruptly.
Note: the most important "take" out of this is: if markets didn't behave this way, it would be SO EASY to trade, every 10 houses in the neighborhood would have significant trading income. I'll bet the current ratio is more like 100:1.
 
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