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North Carolina
Experience: Beginner
Platform: NinjaTrader, Tradestation
Trading: es
Posts: 644 since Nov 2011
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This can be a viable way to day trade. The ability to integrate real-time information is an expert skill, as such it can be more difficult to day trade in real-time, actually. And, that can be especially true if you have more experience analyzing charts and not trading real-time. However, if you want to fully develop as a day trader then I would recommend to focus on real-time information and to use your trade thesis as your plan.
You probably want to use a larger stop and target if you trade with set/forget mentality. Another problem is at least without advanced order handling, you may not be able to respond to all conditions. One way to transition to more active day trading faster might be to plan out in advance how you will handle any given scenario developing and then stick to that set of guidelines.
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