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niceGLer
Apr 30 2019 at 09:54
162 posts
AniLorak posted:
No doubt; money management is very much important! Basically, without having a good money management plan no one can exists here for a long time.


The idea of the money management is to remain solvent as long as the big move comes :)

niceGLer
Apr 30 2019 at 10:15
162 posts
Nasrul_Swing posted:
Dear @JacoAF , i thnik it is better for you to show us the real account of your trading at your profile, at least we can alert on your comment here. Comment without proof is nothing for me.

Swing traders mostly did the analysis at Daily timeframe at least. H4 normally use by Intraday traders. Never heard swinger using H4 so far. Or maybe after you attached your real swing account on your profile, then I believe.

Anyway, thanks for your deep analysis.


I remember I read while doing one of my studies(googling) that one should look for daily chart, since that is how the big players work.
If one looks for EURUSD it can be seen that in weekly time frame it is bearish. However, I am currently in long position, since I think it can be traded both ways. I think EURUSD is currently in so called ranging-trending market condition. I started too early, and my S&R analysis did not work. It would have helped, if I had opened a much smaller position. I'll see how it works out this time.

I think, too, that there is no fixed rule in which time frame to execute entries and exits. In technical language there is a condition in sampling, which is called aliasing. It means that minor signals are overshadowed if the sampling frequency is too low. So, multiple time frame analysis, weekly - daily - 4H and even 1H, as applicable.

There is nothing wrong trading noise (1min to 1H), but then it is a completely different trading style, and it has apparently a different set of rules.

AniLorak
Apr 30 2019 at 10:45
905 posts
niceGLer posted:
AniLorak posted:
No doubt; money management is very much important! Basically, without having a good money management plan no one can exists here for a long time.


The idea of the money management is to remain solvent as long as the big move comes :)


Exactly it is! In addition, here money making is not the main challenge; the challenge is existing here for a long run; in this case, money management is the major.

NileCandles
Apr 30 2019 at 11:19
10 posts
swing trading is the only type of trading that I have found to work. I was on the M15 then hourly and just had loss after loss then I tried the exact SAME strategies on the daily and they work. I've made small but steady profits. Going swing trading was the best thing I ever did

Nasrul (Nasrul_Swing)
May 01 2019 at 06:50
137 posts
NileCandles posted:
swing trading is the only type of trading that I have found to work. I was on the M15 then hourly and just had loss after loss then I tried the exact SAME strategies on the daily and they work. I've made small but steady profits. Going swing trading was the best thing I ever did

Same goes to me. Since I used daily timeframe, my result much better.
However, swing trading will be very bored. Not much new trade, less time looking on chart, and need much time waiting for take profit. This is based on my swing trading now.

Nasrul (Nasrul_Swing)
May 03 2019 at 07:30
137 posts
Anyone swing trading here using daily timeframe?
How was your last month trading?
Market did not have any big movement and I feel bored waiting price hitting my target. Hopefully this month have big move and not blown away my account 😂

niceGLer
May 03 2019 at 07:56
162 posts
Nasrul_Swing posted:
Anyone swing trading here using daily timeframe?
How was your last month trading?
Market did not have any big movement and I feel bored waiting price hitting my target. Hopefully this month have big move and not blown away my account 😂


The day before yesterday (Wednesday, first of May), there was this FED interest rate decision day. USDCHF had been sinking all day long, daily chart showed that I should short, for several days it had been like that. I waited over the the interest rate decision, which was unchanged. I waited appr. half an hour, and went heavily shorting. Bang! Within next ten minutes there was a 60 pips move up, and I was on the wrong side. I'm questioning my sanity now 😕

So, even daily charts can be misleading.

Today, there is this Non Farm Payrolls day. Maybe these are the reasons for the quiet past weeks?

Nasrul (Nasrul_Swing)
May 03 2019 at 08:13
137 posts
@niceGLer are you sure you are swing trader?
If you short based on Daily chart, your SL should not wipe yet. The price still not break previous high yet.
I'm selling USDCHF also, the price is still ranging for me. I hope it make clearance once NFP out.

niceGLer
May 03 2019 at 08:29
162 posts
Nasrul_Swing posted:
@niceGLer are you sure you are swing trader?
If you short based on Daily chart, your SL should not wipe yet. The price still not break previous high yet.
I'm selling USDCHF also, the price is still ranging for me. I hope it make clearance once NFP out.


No, I'm not really a swing trader. I'd like to be one, because of the time available. Every time I try to transition into swing trading I blow my tiny account. I made my decision to close my position with a heavy loss.

Jaco Ferreira (JacoAF)
May 03 2019 at 12:19
130 posts
niceGLer posted:
Nasrul_Swing posted:
@niceGLer are you sure you are swing trader?
If you short based on Daily chart, your SL should not wipe yet. The price still not break previous high yet.
I'm selling USDCHF also, the price is still ranging for me. I hope it make clearance once NFP out.


No, I'm not really a swing trader. I'd like to be one, because of the time available. Every time I try to transition into swing trading I blow my tiny account. I made my decision to close my position with a heavy loss.


Yeah it's tough Swing Trading on a small account. You have to be the MOST patient person in the world to swing trade a micro account. When I really started to understand trading I tried all kinds of strategies. Scalping 5 minute charts wrecked me emotionally. Swing Trading Daily/Weekly charts was way too slow for my $500 micro account.

I ended up with a Breakout strategy where I traded 30 minute and 1 hour charts. It was a simple but effective strategy where I would mark the daily range of the previous day, and then wait for the market to break out of the range, re-test and reject coming back into the range, and then place an order.

My golden rule was placing my stop-losses 20 pips inside the range and aim for a 2:1 risk/reward target. This helped me over the course of three years to build my account to almost $3000, from which point I started proper swing trading, sometimes I even 'swing-trade' the 4 hour charts, but mostly the daily charts.

I'm fortunate to be able to work for myself doing software/web application development, so I can peek at my charts every now and then. But hang in there man, find an intra-day strategy that works for you, and just be patient. Keep your cool, protect your account and in time you start reaping the rewards.

Good Luck Traduing!

Keep it simple, be disciplined, get rich slowly and above all protect your equity!
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