120 minutes!!?? Look at a 1day candle chart for the last 6-12 months. Notice anything special about the last month? This 'correction' is gassed; BTFD; if you trade next month, based on what 'worked' on paper for this past month? You'd be sc-rewwwwwwwed. If you're average hold is 120 minutes, an ATR might not help you much, but I'd still encourage you to put one up and look for any ties between good-trade periods and ATR levels. But if the market is not giving you sufficient 'wash' (think of waves in a tidal plain), it's best to STFO.
To all,,, 120 minutes is an exception. My average day trade is 17 minutes. I am in Los Angeles area. Some day I will hope to move to Colorado. I would love to be in less expensive place and a latter time zone.
John..... What do you day trade now... I day trade bonds, currencies, energies and metals... I used to day trade the indexes, but they got too volatile for my trading model. Toucan