Just to let you know. I have followed Darcy's posts for nearly a year or more. I print them off and spend time dissecting her processes. I have my own style of trading, but I like finding ways to make my trading more accurate and less stressful. My trading has improved 40-50% since listening, backtesting, and implementing some of the approaches that she finds in books, her uses of MA's and other technical indicators. I am now trading over 90%.
I think it is imperative to find what works best for your personality and find ways to tweak your system. I am probably the only one in the history of WSB who uses a 13 chart in so many different ways. I place 3-4 trades a week. I almost never look at a chart larger than my 55. My decision is made from my 13 in conjuction with my 55. My losses are very, very small. I am very hyper and according to my wife, I should be on a Pill. Trading from smaller charts fit my personality perfectly. I want to see results today-not tomorrow or next week. I will learn how to be more patient during the Fall/Winter zone, but for now, I am nickel and diming.
I trade intraday for the following reasons:
I am well over 90% accurate intraday opposed to about 65% using bigger charts.
I enter and sell 75% of my trades by 12:00 (usually earlier)
For the most part, I know within the first hour of the morning whether or not I am going to place a trade
I can sleep at night because I am not in an overnight trade that could go against me and tank before the market opens
Within my expert stocks, I have at least 2 a week that are as basically 100% winners
Once I sell a position, I am finished for the day. I have no need to enter a trade before the market closes.
I anticipate my style of trading will work very well through the summer. I will start back testing this weekend.