Also Steve - I showed the 60 min because it allowed one to have
a $5 earlier entry price and have the same stop. $80 vs $85.
The initial stop for a swing still needed to be set at around
76.6 the higher low.
again if you work a job and stuff, don't bother with 5 min and
15 min charts, but when looking at daily setups and the ones that
look the best to you, also use a 60 min chart to have a look to see
if you can enter that setup earlier or have a tighter stop - daily
and 60 min charts go together well and are good time frame for
swing trades. Stay way from 5 min and 15 min charts as those
will be too fast for you
I've found after talking to a bunch of folks that they are doing
a combination of things that work against them when they are trying
to swing trade:
1. They are setting stops too tight and getting stopped out on
noise and getting frustrated by that, only to see the setups then
play out just fine. swing trades need to be giving enough
room to account for noise
2. their position size is too large and thus they cannot sit
through the noise the day to day movement needed to give the
position room - thus they need to reduce position size so that they
are not getting emotional and setting stops too tight based on
their emotion.
3. Best to avoid horizontal breakouts for swings, maybe unless
it has a nice long base and a good place for a tight stop.
Flags, wedges, bases, coils are allow for tighter initial
stops.
4. some attention needs to be paid to the market at times - for
example if the market has been up 5 days in a row, best maybe not
to enter a bunch of new swing longs.
5. use 60 min charts for better entries and to help filter out
setups.
again look at the vast majority of our long ideas over months,
the vast majority give trades lasting days and weeks. Most
are not simple one day moves.
Posted by bulf6285 on 24th of Jun 2020 at 10:38 am
This is very helpful, thank you. I find my biggest problem on
swing trades isn't getting stopped out for a loss... but rather I
don't hold the winner long enough. Do you have any guidance for
staying in the trade?
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Also Steve - I showed
Educational Example for workers, swing traders
Posted by matt on 24th of Jun 2020 at 10:29 am
Also Steve - I showed the 60 min because it allowed one to have a $5 earlier entry price and have the same stop. $80 vs $85. The initial stop for a swing still needed to be set at around 76.6 the higher low.
again if you work a job and stuff, don't bother with 5 min and 15 min charts, but when looking at daily setups and the ones that look the best to you, also use a 60 min chart to have a look to see if you can enter that setup earlier or have a tighter stop - daily and 60 min charts go together well and are good time frame for swing trades. Stay way from 5 min and 15 min charts as those will be too fast for you
I've found after talking to
Posted by matt on 24th of Jun 2020 at 10:35 am
I've found after talking to a bunch of folks that they are doing a combination of things that work against them when they are trying to swing trade:
1. They are setting stops too tight and getting stopped out on noise and getting frustrated by that, only to see the setups then play out just fine. swing trades need to be giving enough room to account for noise
2. their position size is too large and thus they cannot sit through the noise the day to day movement needed to give the position room - thus they need to reduce position size so that they are not getting emotional and setting stops too tight based on their emotion.
3. Best to avoid horizontal breakouts for swings, maybe unless it has a nice long base and a good place for a tight stop. Flags, wedges, bases, coils are allow for tighter initial stops.
4. some attention needs to be paid to the market at times - for example if the market has been up 5 days in a row, best maybe not to enter a bunch of new swing longs.
5. use 60 min charts for better entries and to help filter out setups.
again look at the vast majority of our long ideas over months, the vast majority give trades lasting days and weeks. Most are not simple one day moves.
Thanks Matt
Posted by retirefire on 24th of Jun 2020 at 10:44 am
Thanks Matt
This is very helpful, thank
Posted by bulf6285 on 24th of Jun 2020 at 10:38 am
This is very helpful, thank you. I find my biggest problem on swing trades isn't getting stopped out for a loss... but rather I don't hold the winner long enough. Do you have any guidance for staying in the trade?