I'm at 80% accuracy, but that's illusory. The reason the 80% accuracy is illusory is because sometimes I let a loser run longer than I should. If I cut losses faster I will probably be at 60%-65% accuracy and make a killing! It's not a Holy Grail or anything. But so far on sim account I'm making thousands easily with 10 lots just trading a few times a day. I'm sure if I'm more active then that P&L will just go up from here. But being conservative, I only trade 1 lots in real account. In due time... trader99
TTT - you're asking a lot of questions. I feel this is a terrible place to do that at your stage, mainly because the vast majority of posters here don't know what the hell they are doing, and they preach to others as if they do (and I mean majority. They are a vocal group). Where you are at, you have no way to discern the difference. With the type of questions you are asking, you need a pretty thorough primer. I'd recommend the Adam Grimes book. It's pretty solid. Read that, then come back.
in a way this answers the question about the holy grail in general, not limited to intraday. the only holy grail is YOU... why do familiar faces always show up at the final tables of poker tournaments. if you read other people's cards better than they read yours, you win. I advise against intraday though... too much work for too little gain... play the long game.
the idea of sleeping on cash, is not logic based. it's fear based. AMZN is going up everyday... does it even make sense to close position at 4pm just to watch it open up 10 points. this is how bull market works, ride the big wave, make the big money!
I am not inexperienced, I am a profitable swingtrader, I have been actively operating in the markets for 10 years and I am doing well. Very good. However, I have always wanted to win in intraday, not because of the money, but because of the challenge it represents.
Excellent comment, I agree ! It truly is how your own mind reads what is occurring.. I day trade because it is what I was taught. Amazingly, I cannot break the habit... I’m proud of my abilities but do confess that I wish I could position / swing trade...
Does it work more often than not? Do you make more money on your wins? Why do you think it is not working? Do you have a plan and do you follow it exactly?
I went the other way from day trading to swing trading. Same principle, just a longer time frame. Way less stress and screen time. Are you using the same setup daytrading as you used swing trading. Curious, what do you consider doing quite well? Are you outperforming the indexes?