My general suggestion is that unless you are very sure about what you are doing and you really find that intraday scalping is something for you. Generally, I will always suggest for people to start with swing trading first, because it is something that they can manage at the same… More manageable in terms of the time, effort and stuff like that.
But if you are very sure that you want to still continue to do intraday scalping system and using the system that you actually paper trading right now, can I suggest that you try to paper trade to at least about a hundred trades, alright. So that you can roughly know that based on the hundred trades, your win rate is definitely positive, more than 50% and you are always able to get at least a one to one risk reward ratio. With regards to the trailing stop part, right. I am not so sure that at this point in time while you are trying out your system that you really want to on and off use trailing stop. You get what I’m trying to say?
Because you want your system to be in a way sort of consistent because you are still testing our system. If you input too many varying parameters along the way, it is going to be very hard for you to feel confident about your system, if you’re in the midst of the trade, you change something, you stay off profit target, you decide to use trailing stop, so a trailing stop, where we use trading stop. I think that if you just follow a profit target and if you journal that all your trades buy that hundred trades and if you look back those hundred trades that you do, you look at by the time you exit the trade at a profit target and maybe you just check slightly later on after that, you will come to a realization whether it might be better to actually use a trailing stop instead of a profit target or it is better to just stick to a profit target of about one is to one, reward to this ratio.
Because generally, I will say is that my experience, as I say, I’m not an expert in intraday trading, but I’ve spoken enough to intraday traders that do short term trading like what you do, and it seems to me this, that they are most of their general experience is that when you are doing scalping and intraday trading, it is very hard to maximize your profits.
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