This post really resonated with me, I think because I was in this position once and I know many other traders have been also.
It always catches my attention when I see people on here talking about the SPI because not many people trade it when you compare it to CL, ES, YM etc... not to mention the high tick value of $25 which makes it more difficult. (unless you use CFD's)
I think the answers to all your questions are within what you have posted.
You have success with longer term charts, but you want to change to a day trading approach because you like the idea of being a day trader. I guess both styles have their merits, long term (takes less time out of your day, less stressful, ability to catch those macro trends..etc) Short term (no overnight risk, done by 4:30, more exciting, draw down recovery time is less) But if it ain't broke do you need to fix it? Perhaps you see more opportunity in short term trading but you haven't managed to adapt to it yet.
I went through the same thing, since I started trading the SPI I have been consistently profitably, and it was the first futures contract I ever traded, but this was after losing money trading stocks, CFD's and FX for a while.
I started trading the SPI using the 1 Hour chart holding positions overnight or only for hours or minutes. I then switched to a 5 range chart (still eyeballing the 1 hour chart), then the 3 range chart, which helped me. I also only use a DOM to place my orders as well. I recommend not trading the SPI during the first 3 weeks of the year as well.
The following user says Thank You to RADO for this post:
The current intention is to take positions on the major currencies, commodities and indices using CFDs. Trade ideas will be generated off 4hr and Daily charts. Basic style of risk-reward management primarily using traditional swing patterns and moving averages.
SPI-XJO day trading is off for the time being.
I plan to keep this journal updated two or three times a week.