When looking at the success rate of an intraday trading strategy, what you want to look for is the number of winning opportunities compared to the losing opportunities.
It doesn't matter if it gives you an opportunity several times per day, or only once per day, what matters is the success rate.
Successful intraday trading strategies have one thing in common, and that's the need for both technical analysis and fundamental analysis. Successful day traders will always spend quality time plotting support levels and resistance levels before moving into any trade. They will find potential pivot points at these support and resistance levels and set their risk to reward ratio at realistic points.
A successful intraday trader will not simply jump into a long position or short position off the cuff, they will always adhere to their day trading strategies if they're not trading long-term. A successful intraday trader will not move their stop loss, they will set it, and let it either hit the profit or hit the loss. This is because they've done their analysis, and if it hits their stop loss, there's a likelihood in their mind that the price movements will continue to work against them.
Even if a price move triggers a buy signal on their relative trading system, they will not enter that trade without prior analysis on the technical and fundamental aspects of the market, whether that involved moving averages, Fibonacci levels, or Bloomberg being broadcast live, their individual trading styles will be reflected in how they react to price action in the markets.
The most successful intraday trading strategies require a lot of work behind them.
But does it have to be so time-consuming?
Not with the Platinum Trading Academy.
Technical Analysis: Taken care of
Fundamental Analysis: Taken care of
You no longer have to worry about sitting at your computer for hours plotting charts, because we've already done it for you, and delivered it in an easy-to-digest format, ready for you to set your trades.
If you want to see our analysis live in action then book your all-important consultation here: https://www.platinumtradingacademy.com/free-consultation-session/