1. All trades are for the day.
2. Positions are opened between 9:30 to 3:00.
3. Each position is closed if its close target is reached or closed with a market order sometime during the last 30 min of trading.
4. No position is left open for the next trading day, no exception what so ever.
5. Approximately equal $ amount is traded in each position.
6. Each position $ amount is approximately 1/40 of available intraday buying power.
7. Market orders are used to open positions, limit trailing stop orders are used to close positions.
8. No stoploss is used, stop loss could actually hurt performance in the long run in this type of trading. This is based on experience.
9. If more than one position is opened, there is no way to know which position is going to be winner, a big winner, a loser or a big loser. I do them all and hence spreading my risk and increasing my chances. If I was to pick and choose, with my luck I would probably choose losers.
2. Positions are opened between 9:30 to 3:00.
3. Each position is closed if its close target is reached or closed with a market order sometime during the last 30 min of trading.
4. No position is left open for the next trading day, no exception what so ever.
5. Approximately equal $ amount is traded in each position.
6. Each position $ amount is approximately 1/40 of available intraday buying power.
7. Market orders are used to open positions, limit trailing stop orders are used to close positions.
8. No stoploss is used, stop loss could actually hurt performance in the long run in this type of trading. This is based on experience.
9. If more than one position is opened, there is no way to know which position is going to be winner, a big winner, a loser or a big loser. I do them all and hence spreading my risk and increasing my chances. If I was to pick and choose, with my luck I would probably choose losers.
