I have set targets based on MFE within formations in my time frames, typically either 12 or 10 ticks depending on current volatility and range with an initial stop loss no more than 7 ticks. I am a singles hitter and that works for me, we are all different. My win percentage is in the mid 50s, losses in the mid 30s and the remainder are break even trades. Returns on leveraged risk capital will appear unrealistic to someone thinking in terms of investments so I don't even go there.
Everything I've read and heard from these "ex Goldman Sachs" types who claim day trading is nonsense leads me to believe they simply don't know how to day trade, so they think it is impossible to do so successfully, which doesn't surprise me—first because they weren't trained that way, and second, because they gained their experience using all the inside informational perks offered to them by the institutions that employed them, so they never had to come up with their own means for approximating the location of the key levels established by those same institutions—and they are therefore operating "blind" once they leave.
Anton Kreil has nothing to do with day trading (anymore). And no one can be taught day trading through a few courses. There are a few people that can be consistently profitable day, trading, but I think the most successful ones may be those that manage prop firms where other day trader make money for them. That way each day trader can focus on their specific strategy. strength, and couple stocks to trade each day, while the prop firm provides coaching and capital, while distributing risk between traders. And those day traders require constant watching, coaching, setting risk limits, motivation, performance reviews, etc. Unless you’re born to coach you’ll need years of coaching and trading next to day traders who make money every day, while making visible progress yourself to not get fired. You may also need Level 2 data, and be able to react in seconds, vs minutes or hours like with some swing trading. Even then, I’m not sure whether prop firms do not make more money from swing trading. I’m also not sure whether any consistent day trading strategies prevail over the years (this is most difficult for me to believe), so you may also need to be able to adapt to changing market conditions. That’s yet another level of difficulty.
the rub is you could teach someone to day trade in five minutes but it would destroy the edge that took years of refinement.
Since some others had mentioned SMB, here is a cool clip from a 7 digit trader. A lot more insights than from a bank trader that works for a paycheck. Start at 2 minutes.