I apologize in advance if I'm stating the obvious below -- I mean no one any disrespect -- but your question gives me the feeling that you've had limited experience with trading, or at least with software that programs trading strategies. Also, a couple of your statements get me concerned that you may be poised to lose a lot of money. If I've misread you, by all means feel free to skip the rest of this post.
In general, the aspect that makes WealthLab, & for that matter any other trading software, valuable is the ability to
backtest. The reason it's necessary to backtest is because there are far too many variables for
any strategy to work
all the time, on any stock under all market conditions & any trading style, i.e., position size, money management, exposure, etc. We backtest to see how a strategy will perform over a period of time with different market conditions (see Eugene's response above) & trading parameters. For instance, I've seen some strategies that work great with a lot of capital & large positions like 1000 shares, but perform miserably with positions of 100 shares. It's not necessarily advisable to trade every single day no matter what -- if you don't see the right setup, some days it's best to sit it out. Sometimes the trick to winning is in the trades you
don't take; on the other hand, if you try to screen out every condition that ever causes a loss, you
can write a strategy that won't lose any money -- because it'll never make any trades.
The best you can hope for is a method that gives you at least one of two performance metrics: (1) percentage of winning trades over 50%; (2) average gain amount larger than average loss amount. A strategy can make money over time with just one of these being true, but if you have more losing trades than winning trades, your average gain per trade is going to have to be significantly larger than your average loss; the larger the ratio of losers to winners, the larger ratio of average gain to average loss you'll need to balance it out. If your average per trade loss is greater than your average per trade gain, you'll need to have significantly more winners than losers. While I've seen strong performances from strategies, some of which were described & presumably used by acclaimed "experts" (no, I can't cite any right now -- you'll just have to take my word for it -- or not), that have only one of these metrics, I generally raise my eyebrows at them, preferring strategies that have both.
There is no absolute definition of what "works"; it can vary widely from one person to another or even with the same person at different times -- my risk tolerance right now is different from what it was six months ago; six months from now it may be different again. Trader A may be comfortable with a strategy that loses more frequently than it wins because the average gain is three times the size of the average loss & results in a large total gain; Trader B may feel more secure with a strategy that wins 75% of the trades, but has a slightly larger average loss than gain because he feels more secure seeing a winner more frequently, even if he makes lower overall returns than Trader A.
QUOTE:
What should i test out so i can get my daily winning buzz.
Pardon me if I'm being overly blunt, but if your motivation for trading is to get any kind of "buzz," the only buzz you're likely to experience is that of the chainsaw that's shredding your account.
QUOTE:
I dont care how small the win is, as long as it's a win- everyday.
Really??! You mean if you spend a year busting your hump daytrading, jumping in and out, & by some miracle manage to squeeze out
some net gain every single day, finishing the year with an overall 2% gain, & then find out that by buying only 10 stocks -- the
right 10 stocks -- & just holding them for a year, you could have made 20%, that's okay?
Before doing anything else, it might be worth your while to read a book on the psychology of trading -- there's a bunch of decent ones out there.