I think overall in the long term, swing trading is where the moneys at. The whales of FX use the daily, weekly and monthly time frames. The compounding on the swings generates A LOT, of money.
Been a scalper since the beginning but has made my trading journey stressful. Now I’m focused on swing and getting better entry. Been going ok but it takes like 3 entries or more to get it right the first time. Working on that part.🤦🏾♂️😆
Scalping always looked way too volatile and stressful, so I've never attempted it. If you did well scalping what made you decide to try swing trading? If you're not already familiar with it you should try the break and retest strategy. I've done really well using that one lately. I wait for price to reach the intersection of my current resistance line and trend line. And I don't enter until it does what it will at the intersection. The majority of the time it will reach exactly where those lines cross. Then it will either reverse after hitting it and change direction or it will break through at the intersection and continue trending in that direction. After that, I wait again (yeah I know, a lot of waiting. That's why so many traders push how important patience is) and allow price to retest and return to that support or resistance line. Then after it starts changing to the opposite candles and depending on what it did earlier at the intersection I place my trade. Hope that all made sense. I only trade one chart, one trade at a time. Because swing trading pays high returns I only need to place 5 or so trades a week and hold each trade for 16 to 36 hours at a time. I tried day trading for a long time but I enjoy swing trading much more and have become more profitable since making the switch. It's really cool that you're trying a different trading style, like learning a new language and I hope you're able to be as successful this way as much as you were scalping.
I stopped scalping when my eyes turned red after looking at my screen all day and no results. I was new back then but now, I trade less, less stress and more profits
Swing trading with small positions, Key to trading success, Daily Chart setups. Markets are too noisy and manipulated on the typical retail time frames. Big banks and institutions with larger capital trade on the Daily and weekly time frames in my opinion.
Ofc it is when you have large sums of money to fill in the market you gotta trade the highter timeframes easyer to get all your desired amount of positions filled
Small positions mean small returns...read about The Kelly Factor or Kelly Criteria...written by a math professor who invented card counting for blackjack that the MIT used his mythology in the movie. He made millions from Vegas before getting blackballed. Then went on to start his own hedge fund making more millions.
I recently switched from day trading to swing trading and I've had much more success swing trading. Its simpler to follow, I dont have to constantly be on my charts, its less stressful, and think its better for new traders. I place 4 of 5 trades a week and hold each from 16 to 36 hours. And I trade break and retests.
There’s a trick: you can daytrade using a swing trade setup. I most l’y enter swing trades on the 2hr timeframe. But I could decide to close the trade in a day
I’m not on the 2hr timeframe ,but in essence that’s what I’m doing as well .. if my tp or stop loss doesn’t hit I hold until it does which may take a day or 2
99% of Day Traders go broke within 6 months. If you are even thinking about following someone on UA-cam for day trading advice...see how long they have been making videos and then ask yourself ONE question...IF this person was making lots of money then why would he be spending so much time filming, editing, and posting videos? And why would they need to charge for anything? If they are selling a service or a watchlist or a chatroom then THAT is their profit source and it is NOT their trading!
I think you have a couple good points regarding how many traders fail and how long they've been trading & uploading videos or listening to a 17-year-old telling you how to trade... There's something called multiple sources of income. Also, it's not like it's a completely different business like trading and construction or opening up a car dealership..... It's the same business so it's easy to post and talk about it.
It sucks how cynical trading makes us but its true, theres a lot of people out to scam traders and unfortunately take advantage of a lot of new traders. Its leads to people quitting or staying away from it all together. I've always avoided that by teaching myself but it makes learning and understanding everything you need to know take much longer. I recently started teaching friends and family interested in trading the basics for the past few weeks and send them resources for learning to trade as well. I hope with a good start they're even able to surpass me and become great traders. It sucks seeing new traders struggle and quit. We need to counter the scammers by helping more traders learn to become successful and avoid people like that.
@@Omar_Facio every one blews account. Expecially if you are new in the markets . I don't understand why you are laughing. Coz i bet you are not consistent profitable yet.😂
@@esteban5361 if you want to make money trading the market, don't play anything less than daily, preferably its best playing based on weekly candles, keep holding with the trend, that way you filter all the noise out. Which is better, making 40-60% per year making one or two trades, or gambling on 0dte options? People need to wake up
I think overall in the long term, swing trading is where the moneys at. The whales of FX use the daily, weekly and monthly time frames. The compounding on the swings generates A LOT, of money.
Excellent point.
Been a scalper since the beginning but has made my trading journey stressful. Now I’m focused on swing and getting better entry. Been going ok but it takes like 3 entries or more to get it right the first time. Working on that part.🤦🏾♂️😆
Ahhh yes. Been there. You'll love short term Swing Trading. It's excellent. Start by being great at spotting one trade a week on your favorite.
Swing trading...I couldn't hold tickers that move 10 to 15 dollars a day. I would prefer to day trade those. Then swing less volatile stocks.
Scalping always looked way too volatile and stressful, so I've never attempted it. If you did well scalping what made you decide to try swing trading? If you're not already familiar with it you should try the break and retest strategy. I've done really well using that one lately.
I wait for price to reach the intersection of my current resistance line and trend line. And I don't enter until it does what it will at the intersection. The majority of the time it will reach exactly where those lines cross. Then it will either reverse after hitting it and change direction or it will break through at the intersection and continue trending in that direction. After that, I wait again (yeah I know, a lot of waiting. That's why so many traders push how important patience is) and allow price to retest and return to that support or resistance line. Then after it starts changing to the opposite candles and depending on what it did earlier at the intersection I place my trade. Hope that all made sense.
I only trade one chart, one trade at a time. Because swing trading pays high returns I only need to place 5 or so trades a week and hold each trade for 16 to 36 hours at a time.
I tried day trading for a long time but I enjoy swing trading much more and have become more profitable since making the switch.
It's really cool that you're trying a different trading style, like learning a new language and I hope you're able to be as successful this way as much as you were scalping.
I stopped scalping when my eyes turned red after looking at my screen all day and no results. I was new back then but now, I trade less, less stress and more profits
Swing trading with small positions, Key to trading success, Daily Chart setups. Markets are too noisy and manipulated on the typical retail time frames. Big banks and institutions with larger capital trade on the Daily and weekly time frames in my opinion.
Absolutely right. Big money made on the daily for sure.
Ofc it is when you have large sums of money to fill in the market you gotta trade the highter timeframes easyer to get all your desired amount of positions filled
Small positions mean small returns...read about The Kelly Factor or Kelly Criteria...written by a math professor who invented card counting for blackjack that the MIT used his mythology in the movie. He made millions from Vegas before getting blackballed. Then went on to start his own hedge fund making more millions.
@user-vi8qp3eb8z big positions equal blown accounts too, by small positions I mean risking 1% or less per position.
Never thought of it like that but it makes a lot of sense that market moves would probably day trade the most over other styles
Swing trading with stacking positions to your winning trades every day is the most profitable strategy with the least risk.
Exactly✌
Trading higher timeframe is more forgiving to new traders too.
I recently switched from day trading to swing trading and I've had much more success swing trading. Its simpler to follow, I dont have to constantly be on my charts, its less stressful, and think its better for new traders. I place 4 of 5 trades a week and hold each from 16 to 36 hours. And I trade break and retests.
It's much more relaxing
Day trading is way too much stress, not worth it.
I like both I have money for long term, day trade, and swing trading
Same. I like Swinging better than Scalping. Scalping is just good for me to withdrawal something short term.
There’s a trick: you can daytrade using a swing trade setup. I most l’y enter swing trades on the 2hr timeframe. But I could decide to close the trade in a day
I’m not on the 2hr timeframe ,but in essence that’s what I’m doing as well .. if my tp or stop loss doesn’t hit I hold until it does which may take a day or 2
Swing trading is the best
I've been day trading slowly going into swim trading as I tend to start liking trading in the higher hours more as time go on.
99% of Day Traders go broke within 6 months. If you are even thinking about following someone on UA-cam for day trading advice...see how long they have been making videos and then ask yourself ONE question...IF this person was making lots of money then why would he be spending so much time filming, editing, and posting videos? And why would they need to charge for anything? If they are selling a service or a watchlist or a chatroom then THAT is their profit source and it is NOT their trading!
I think you have a couple good points regarding how many traders fail and how long they've been trading & uploading videos or listening to a 17-year-old telling you how to trade... There's something called multiple sources of income. Also, it's not like it's a completely different business like trading and construction or opening up a car dealership..... It's the same business so it's easy to post and talk about it.
Lol maybe they just want another stream of income ? They could be recording at midnight.
It sucks how cynical trading makes us but its true, theres a lot of people out to scam traders and unfortunately take advantage of a lot of new traders. Its leads to people quitting or staying away from it all together.
I've always avoided that by teaching myself but it makes learning and understanding everything you need to know take much longer.
I recently started teaching friends and family interested in trading the basics for the past few weeks and send them resources for learning to trade as well. I hope with a good start they're even able to surpass me and become great traders.
It sucks seeing new traders struggle and quit. We need to counter the scammers by helping more traders learn to become successful and avoid people like that.
@@tias.6675 WHY would you need "another stream of income". IF your "system" allowed you to make huge gains without risk??
@@donvee1419it’s hard to tell who’s scamming!! i’m new to this
Swing trading
Day trading is a suckers game
Found the guy that blew his account 😂
@@Omar_Facio every one blews account. Expecially if you are new in the markets . I don't understand why you are laughing. Coz i bet you are not consistent profitable yet.😂
We all have to learn somehow
@@esteban5361 if you want to make money trading the market, don't play anything less than daily, preferably its best playing based on weekly candles, keep holding with the trend, that way you filter all the noise out. Which is better, making 40-60% per year making one or two trades, or gambling on 0dte options? People need to wake up
You will learn soon ..