As you asked: Intraday

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“I wanted to ask you if you ever thinking about making an intraday trading system.” (W.M.)


In the past, I already tried to build a real time version of the model, but it has some limitations: it’s hard to have quality data for a large set of instruments without “holes” and back in time enough to cover a long history. The access to the actual real time market data is compulsory. It’s a huge quantity of data.
It would require, to be done correctly, a very consistent investment in hardware, data feed, external coders, etc.: such a service should be “always on” and multi time frame; all considering it’s not in my possibilities.
In some way, even if I try to approach the analysis as abstract as possible, how spxbot is shaped reflects my attitude to the market as a good long term investor, a mediocre swing trader and a bad, no: awful,  short term trader.
Anyway, if you like to follow my advice, try to use r.Virgeel’s suggestions to shape the frame, the long term action of the maket below your intraday trading. I’ve done it for about six months, last year, with nice success, using a CFD account and trading the 15m to 1h charts with a momentum indicator. Using the r.Virgeel’s outlook, I traded all the waves in the direction of the underlying trend and never the opposite.The FastTrack indicator was not available yet, it has just few weeks. It is not designed to work intraday, well, it is not designed at all. It actually is the real first r.Virgeel’s contribution. FT seems to work well as a trend follower on a short daily basis. It tends to stay on the trend, bat can reverse in two or three bars, just following mr.Market digestion process. So, the FT indicator can show quite reactively how the tide is flowing and you can program your trades consequently.
I’ll give it a try.