I am a sort of newbie....to daytrading. I have traded the markets for years but always individual shares and always long. The last year has really stung me badly and I am now looking at new things.
For the last three months I have paper traded the FTSE and have achieved my target of 30 pts almost every day. I am still confirming my trading system and am even doing the odd trade with real cash so that I get the hang of IG Index's trading platform and chart package, and the subsequent pressure when the money is real.
I am looking to trade £4 per point and effectively that would give me an income of about £30,000 per year if I average 30pts per day. I use tight stops and look for reversals and continuations/consolidations. I am happy to close a position if it is vascillating and not impulsive in the direction I expect it to go. My stops tend to be between 10 and 15 points depending on the time of day. And if I am stopped out three times I walk away and sniff the roses somewhere else and come back later.
I like parabolic SAR and something called the Chande kroll stop. I also use RSI and stochastics but they are nowhere as important as trendlines drawn as quickly as you can get a best fit of the data. I don't use moving averages, but I do like Boly Bands for a bit of guidance.
What I would most like to know is that are there any full time traders out there who are achieving these sort of incomes and on a repeated basis? I am sure there are a few who are and many that aren't. Would any of you pros care to confirm this, please.
cheers
Martin
I should have read more of this BS before I posted 
