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Trading intraday has several problems and you have to figure out how
to overcome them..
1. If you use a 5' chart then you better have MS Pro version with
intraday and backtesting capabilities. .. its expensive. (I have it)
2. Do your back testing on a few 5' charts with the systems you have
and see what you find.. factor in the turnover and daytrading capital
needs and broker costs for sure. You might be disappointed with the
results. If you can't make money by backtesting and fitting a system
to past data, you won't do it real-time for sure.
3. Most systems generate too many trades. You have to figure out how
to minimize your trades.
4. Stick to End-of-day and get good at it first. Intraday will force
you to make live faster decisions while the market is moving and that
is tougher to do.
5. You need to use criterias to select stocks that are rising. Buy
them on dips and use a stop loss. That can be managed using
Stochastics, MAs or RSI - quite simple but you have to weed out the
excessive trading some of them generate.
Also, I am assuming you are either unemployed or want to work at a
brokerage house or are dreaming of untold wealth by daytrading off
your computer while at school.. Its very difficult to daytrade while
you manage a regular job.
Best of luck.
--- In equismetastock@xxxxxxxxxxxxxxx, a a <swptec@xxx> wrote:
>
> Hi Preston,
>
> When I said "for Metastock" I meant a system which is available
already in Metastock or a plug-in / add on for Metastock. "For
Metastock" meant Metastock platform. Kindly guide me.
>
> Thanks.
>
> pumrysh <no_reply@xxxxxxxxxxxxxxx> wrote:
> It is not about what is good for Metastock...it IS about
what is good
> for you!
>
> Preston
>
> --- In equismetastock@xxxxxxxxxxxxxxx, "swptec" <swptec@> wrote:
> >
> > Hi,
> >
> > I would like to know from the experienced members of this group
as
> to
> > which is the best intraday trading system for Metastock.
> >
> > Thanks.
> >
>
>
>
>
>
>
> ---------------------------------
> Everyone is raving about the all-new Yahoo! Mail beta.
>
> [Non-text portions of this message have been removed]
>
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