When it comes to making money in the stock market, a good day trading system is one of the fastest way to make sizable gains in your account with little money. Countless times we have turned $200 accounts in to $10k+ accounts in a matter of months.
This is possible because you can stack the risk to rewards massively on your side, risking just a few points to make many points, if it does not work out the first trade, you just hit the setup again. You can do this multiple times until it runs. Of course, we pay attention to support and resistance areas.
Having a good Day Trading System really helps this, something like our DYN Day Trading Software can handle any time-frame and has a dynamic variable to differentiate between the different time-frames. For example if you are on a 5 Minutes chart the Trading Software will change its variable to cater for shorter term moves, if you switch to a time-frame above 60 minutes, it will re-calibrate to allow for bigger moves with bigger stops.
Recently Day Trading Currencies has become a huge part of the investment world, this is why we have calibrated our Day Trading System to switch variables between, Forex, equities and futures.
There are also many different types of Day Trading System, sometimes these can just be a series of trading indicators which work together to form a day trading setup which is quite similar, but not the same. Trading indicators work independently of each other, they cannot talk to each other or pass information back and fourth like a piece of software can.
Maybe you don’t even use Trading Software, some trader just use a Trading Platform like NinjaTrader and use market data along with a few indicators like the MACD and Moving Averages to trade, this can be just as lucrative if you get the right stock or currency.