I involve into many things during a decade of learning and quant stuff do help me to become a different type of traders. However, I'm not running any algo at this moment, maybe soon...
One more thing I got to say before heading out to grocery shopping is that during those years working as an IT guy in banking/financial industry, I had to perform many database queries for sales, marketing, compliance and other departments. One of those queries I've to run monthly/quarterly/annually is to identify inactive trading accounts with no money left to trade/invest. Guess what? As a full time trader presently, it still gives me goosebumps each time when I recall looking at those reports.
Let me address this. Intraday swing trading has got to be the strategy with the most risk. Backtesting brings this out clearly......the longer you are in the market (Time-in-Trade), the lower the win percentage. The answer of course is a high win rate %...preferably 70%+. Also, very important is low fees and low commissions....which should be no more than 25% of gross profits. However, finding a good broker willing to negotiate rates based on volume ?....very tough. And newbies like Tradovate ? Well, they are getting shut-out as many charting platforms will not subscribe to their execution/clearing API for fear of pissing off existing partners. So that's it.....fat-cat brokers are very much in control right now. For small retail traders, it's an "FU" environment....take it or leave it.
It varies since my entry and exit techniques are ruled based. Average duration is around 10 to 15 mins. Entry rules must be obeyed. Exit rules can be flexible because there will be times price moves way beyond intended profit target before exit rules get triggered. In such cases, I'm more than happy to book profits in early. Stop loss rules must be obeyed. As soon as entry rules are violated, even after few minutes of holding a trade, I dumped that trade right away.
Believe it or not, I find scalping setups are much less risky than day trading setups and my scalping style is much less stress than day or swing trading. On average, my trading system produces few different high probability scalp setups to trade everyday. It is so rare these days that I end up with three consecutive losing trades, unless I make random trades with itchy fingers when I get bored.
#hogwash....10 minutes is an eternity not a scalp! thought this was elite traders. the question is how many contracts can you do and at what price levels and how many times a day and what are the probabilities at every 30 minute interval? doubtful he knows or anyone here from what i have seen. Books have advanced faster than traders apparently. step yp your loose games and start acting like men witj real purpose. you are either a quant that i get to push around with my aggressive orders or your pushing me along for the ride! im not riding coat tails i make em push me if they want to fill higher! you cant get from A to C without passing B! and im a placeholder.
Srsly tho. There are traders out there who trade live every day and are willing to give that out that anyone could back test exactly when and where they got in and out. come on no one cares about you