It is net profitable because of early successes. The trend is not good. Trending towards net zero. I am scalping using tick by tick and 1 min charts, the difference between winning and losing is small, a few ticks. The biggest drag of tick by tick, 1 min scalping, IMHO is overcoming the overhead. I probably have to either go to a longer time frame or hunt for true BO and take the hit of low win rate. But in reality, it is like picking your poison.
You enter when price breakouts or price corrects? better to show how you trade in a picture so we can give you some advice
Thank you for your very thoughtful response and suggestions. You are one of the posters I truly respect and your posts were always constructive and helpful. I am learning day trading not because I need it but because it represent a challenge, a failure I want to overcome. I am an option trader and really do not need day trading to make a living. Take care sir.
A quick visual example: The money (and proper R/R) is in the big moves. Simplistically, I don't think the move from A to B is random, but many of the oscillations between A and B are in fact completely random. If you study when the high and low comes on a day, you'll see that it's not random at all. There's an edge there. You may have to do some filtering or 'divide and conquer' as my 'mentor' once said in order to see it of course. I use a statistical application and not charts for those type of queries/studies. You can also study how the market tends to move in ranges from day to day. Only 10 % of all market days across a large sample size is an Inside Day in index futures. That's information you can exploit. Focus on 'day types' and the big picture. That could be a starting block for further studies...