To get a more stable equity curve, many traders rely on intraday data. The goal is to participate on small price swings with a high number of profitable trades at very low risk.
However, inexperienced traders often quickly learn that faster trading not only means higher slippage and commission, but also requires greater discipline in executing trading signals. Traders who do not have systematic rules for trading intraday should be very careful. The best strategy is to start with paper trading and work with different products and time intervals.
There are many possibilities for intraday trading. In this discussion, we focus on 15-minute data, for this is the data compression we offer on our online trading platform www.fibotrader.com. PHI-ellipses can be traded very successfully on 15-minute data. We use Dax 30 Futures Index data in this section because this is the product we trade for ourselves. But DJ EuroStoxx 50 Futures Index, S&P 500 Futures Index, Nasdaq 100 Futures Index, and Dow Jones Futures Index are also excellent trading instruments on intraday data in combination with PHI-ellipses.
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