I thought the ASX 200 Mini was $10 per contract/point? So I'm presuming your using a CFD provider who will be acting as a market maker if your paying $5 per contract.
I can't tell you what to do, but I can offer you some advice.
The first bit of advice is to stay away from CFD providers who are market makers, stick to DMA providers who will actually be buying on market.
If you only have 1k in your account, your only option would be to scalp, since any swing trade could take out large chunks of your account. The trouble here is that when you trade any kind of scalping system you can't really afford to risk more than 1%-2% MAX of your total account size on any given trade( Trust me here, this is of utmost importance). Therefore you can't afford to risk more than $10- $20 per trade or 2-4 points if your trading a $5 mini contact. Entering into trades on the ASX/SPI 200 with only 2-4 points to move could be like paddling upstream- you also have commission to sting you on top. IMO you need more like a 5-10k starting account... don't listen to stories about people starting off with only a few thousand- it's BS or they just got very lucky.
Win/loss ratio isn't so important, there's far too much emphasis put on this with guys who "talk" about trading intra systems. I've seen algo traders obsess over it, trying to perfect their system yet never do... Any good trader will tell you that the most important thing is cutting your losses far quicker than when you take your profits( Money management)- that way you can afford to lose more trades than you win...Some of the most profitable day traders will have winning ratios less than 50/50. Of-course that's not to say your strategy should be over looked
Breakouts can work well if your using a tight stop( which is your only option having a 1k account). In terms of time frame you need to work that out for yourself- I've never traded the SPI 200 mini, but used to trade the Emini S&P500(ES), and used tick charts or minute charts.
Don't get so caught up in hunting out the perfect intra day system, you've never going to find it- it doesn't exist. Its often said that 70% of trading comes down to psychology- IMO it's more like 90% of trading comes down to psychology AND MONEY MANAGEMENT- only 10% of whether your an overall winner will come down to your trading system. The best thing anyway is to gain experience, and you have to be prepared to blow out multiple accounts in the beginning. You would have to be an absolute natural or luck box to jump in and start profitably trading Emini futures straight away.
