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Just to clarify - Short Swing Trading is NOT a Holy Grail, and is NOT
advertised as making 2.5% a day! I'm not sure where that idea has
come from.
To give you an idea how 1% a day is possible with intraday trading:
GBPUSD:
=======
Say you have a $40K account
5% capital risked per trade = $2000 per trade risked (Money
Management)
Each trade has a stop loss of 10 pips
You therefore buy 20 lots: ($2000/10 pips) / $10 (pip value for
GBPUSD)
1% of $40K = $400
You only have to make 2 pips profit a day (not incl commissions) to
make $400 (2pips * $10 * 20 lots)
Or if you are not happy with 20 lots (too much), 5 lots and 8 pips a
day profit.
You will still need to look at your Win:Loss ratio (eg: if you make a
gain of 2 pips 60% of the time and a 10 pip loss 40% of the time -
this is not good!).
And if your stop loss is wider, the number of lots you can buy is
less (to keep with the 5% money management rule).
However - this just goes to illustrate:
Focus on one security and nail it!
It is much easier to make a net 2 pips a day rather than going for
the 40+ trends.
Now do you see?
Alex
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