If you want a trading system for day trading then in my opinion you can do much worse than learn Ant’s Gold trading system. I use this system for Day Trading on a daily basis and it works a treat for me.
Today I took four trades with it on the DOW indices, which is one of my favourite markets. I recorded the trades and you can watch them in the video below.
I was trading at £10 per point today, which on my Spreadbetting account required a capital base of just £16k. I was only risking a small portion of that on each trade. With my trades using this system I can quickly see if they are going to work out or produce a loss. In every case I have a stop-out level and if the market reaches that level then I make a loss on the trade. In this system I make sure that the stop level is close to the entry to minimise risk.
The entry for each trade and the stop level are separated by at least two points of Support or Resistance. The 8 or 20 EMA (or both) and the high or low of the entry candle or previous candle would be suitable levels and I use these.
I find that the system works on all timeframes and any market where there is sufficient volatility – I look for an ATR of 7 x the charge for trading. This starts my trade on a good footing, with a good traders equation.
These factors mean that I was risking about £300 maximum per trade and in the last two trades I only risked £100 per trade. With four winning trades my average reward to risk ratio was 3:1. This is fantastic and means that even with a low probability of success I can make this system work. However, I find the probability of success in this system to be well above 75% and in fact all my trades today were profitable.
I made about £2k in the session – thus giving me a return of 8% on my capital in just a few minutes work!!!
Watch me demonstrate Ant’s gold trading system in the video below. 4 day trades in 20 minutes. Traders at the Excellence Assured Trading Academy can look out for the signals that I take for my trades.
The key takeaways for traders from this demonstration of trading were:
- If you have a system that works – STICK TO THE SYSTEM
- Always trade with a good traders equation
- Exit the trade for a loss if it hits your exit point
- If you have a great system then milk it!
- Day trading the correct way can give you an almost unbelievable return on investment but don’t take it for granted