I have been trading stocks for 45 years never very successfully. I have always been intrigued about day trading and with the advance of on-line platforms and very low commission rates, it allows one to trade for pennies a share and micro sec trade executions. I read an article about a trader that only traded one stock, GE and consistently made 100,000.00 a year.
I spent a year investigating a method that would prove profitable and hit on my current system, it involves trading on a one minute chart with 2,10,ctr BB’s , volume and time and sales info. I choose IWM as my trading signal vehicle because there are TZA 3x short and TNA 3x long IWM. It proves to offer 10 or so trades a day and because they can move very quickly moves of .25 to .50 are very common. Because of there liquidity trading with a market order as verses a set limit is pretty safe. My signal is generated when IWM closes below ( TZA) the center line or above the center line and indicates continuing.
The requirements you need to be successful are; a fast computer and very reliable and fast Internet connection; a good on-line trading platform with low commission rates, a minimum of a 25,000.00 trading balance (SEC requirements to be a pattern day trader). Consistently following my trading calls and quick to execute them. Most of the time you can get a better price execution then I do as TNA and TZA can move very fast and your buys and sells can be better then I call. I have a very controlled trading signals and I must execute my trade and post it. If you miss my call by .05 or more wait for the next call as there are usually more to come quickly. This is a momentum type trade and they can move very quickly on a trading signal.
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