Started a Scalper. Became an Intraday trader. Bacame a Day trader. Now I'm a Swing trader ._. But I still do all of them if opportunity presents itself based on the strategy
I needed to see this video. I am a swing trader as well but most of my friends scalp . My mindset starts to change when I’m around them but most of my profits come from swing trading. Plus I don’t want to sit in front of my computer all day everyday.
@@MegaMalik90 SL depends on volatility I use ATR based SL during low volatility you can trade on the 4H and still has a 20 or 30 pips SL of course it will be much higher during high volatility , another thing would be the strategy you're using if you trade around key levels the SL will be smaller than wen trading in the middle of nowhere
Totally agree. I tried for months to trade the 5M charts, and nearly drove myself nuts. I was stressed out all the time and hating life. I was lured in by the quicker profits and by a trading system that worked well for the person I bought it from. But I finally had to admit it didn't work well for me because my personality and life situations are very different from this trader's. I swallowed my pride and went back to the daily chart and I am SO much happier. The extra time to plan my trades, combined with the between half an hour and an hour that I spend per day looking at the charts, are so much better for my trading psychology and outlook in general.
This is awesome! Thanks for sharing. This is the struggle I'm kinda dealing with. Then if I switch to swing trading I still keep thinking of swing trading tge 1 or 5 min chart. It just blows my mind to use a 4 hr or 24 hr chart cuz in my mind I would feel bored. And how do you create a stop loss they may not be needed till end of the week. And when would someone take profit? After 1 week? 1 month? I assume swing trading needs to be big amounts of money if your only gonna get paid out from a trade only once or twice a month?
Most traders start out at as day trading because they want to earn money instantly, but as you gain experience just as yourself, you realize that money is made more frequently long term when you zoom out and swing trade. Leave the bots to intraday. That's what I do.
It's definitely less stressful for me, I've been trading for about a year and a half. And I've come to the conclusion that swing trading saves my capital, i make rash decisions when day trading and have lost a lot of money because of it. I learnt from another channel, be a sniper not a machine gun.
I have been backtesting both my zwing and day trading. I have definitely found swing more comfortable to me as well as providing high profits to Risk ratio. Still if i see a strong trend i wouldn't hesitate to get involved but i usually keep them only high probability and filter out the valid setups. But day trading takes a huge toll on you emotionally especially if you are new in the game
Yes many newbie traders lack the expertise required to trade on the foreign exchange market. Signing up for a fund management service is a better option for those with limited experience.
Maura Lombardo it’s a trading setup for traders with limited experience, that allows an expert to trade on your behalf for a 20% commission in return for the service.
I can relate a lot because I don't trade well when I watch the market a lot but when I swing trade I have a better success rate because I don't have to think a lot about short term price movements
I think when u a new trader u have the excitment of getting involvd in the markets each and everyday. And seing urself making money in few minutes or hours. What we forget ad new traders is that we exposing our capital more with this mentality. Whereas finding that 1 perfect trade once a week atleast, that keeps u away from blowing accounts consistantly If we can be honest, most blown accounts comes from these in and outs of the markets everyday.
Yep. And ditch the indicators too. That's just a big trap for new traders. Every market behaves differently, and some settings may not work for some markets or market conditions, and you'll find yourself tweaking settings endlessly to overfit your strategy. Clean price acion with breaks and retests are the best, especially in JPY pairs, because the fundamentals that drive JPY pairs create nice technical trends. It has to do with the Yen having negative interest rates, while other currencies have positive interest rates, so as long as there's no economic slowdown or fear in the rival currency, JPY pairs tend to trend upwards.
Seemore Truth I might end up doing the same... 😩 but I love the thrill of Day trading (but I find myself making more emotional moves when I Day trade...)
karun nagraj same thing i was thinking because I'm new to trading it would probably be safer for me to day trade (to minimize risks)...thanks for the advice ☺️❤️
All i know is the market moves the same on every timeframe just in different ranges, which makes me think you can earn more day trading plus the fact that you quickly know if your wrong or right i do like. For example i have been in a swing trade where i waited 2 weeks for it to develop finally got in and then end up breakeven or loss that frustrates me way more then a quick loss tbf. But man idk i try to do both hahah
Awesome video! I'm in Los Angeles, and by the time I get home from work every evening, I'm in the middle of the Asia session, which we all know is renowned for it's poor activity... So I've been staying up for London open (midnight here) and trading a few hours of London and getting 3-4 hours of sleep a night. That's just not working for me. So just last week I switched from 1 hour day trading to 1 day swing and worrying a hell of a lot less about the little changes in the market all day. It was a bad time to do it, because the market is just ranging daily up and down the last 10 days now, but I'm feeling very positioned for the longer moves the market is and will be making. I honestly didn't know the difference between swing and day trading till you pointed it out here. It was just what I felt was going to be better for me in the long run. Again, great video Nick! I watch them all!
I’m a day trader on the forex but I’m a swing trader when trading stocks. Now on the forex, depending on the market setup, I will swing it just to get a certain amount of pips before closing out for the day.
Swing trading is definitely the way to go. Day trading is not for beginners or even some intermediate traders. You make bad decisions, you overtrade, lose money repeatedly, get caught in news, gaps, session opens and closes, etc. Swing trading allows you to relax, analyse and just trade simple clean breaks and retests. It also allows you to focus on the economics, so you have a fundamental confluence to enter a trade instead of some random indicator on a random time frame with random settings telling you to buy or sell. Swing trading saves money and makes money. Teaches you patience and discipline as well 👍
i find daily candles easier to put stop losses in the right places, easier to see structure if im up 200 pips bullish ill close the trade after the first red daily candle close, may end up with 120 pips instead of 200 but its a risk to ride the trend higher. also i feel daily is more accurate in terms of where you think the market may go. i would prefer to close trades around 10 - 14 day mark. but thats me
It depends on your personality,day trading is definitely not for everyone,if you feel uncomfortable and have no clear sense at where the market is heading in the shorter time frame then day trade isn't for you
Yeah I'm with the swing trade vibes. If you can in the future provide us with swing trading tips and insight , that would be Awesome! Thanks in advance.💯
You cant discount all the oppurtunities that Day Trading provides. Most people dont have the patience for swing trading even if its just as profitable. Most people just wind up turning their swing into a daytrade. On AUD NZD there was a 14 day swing trade that i was in that netted a 7R return. But i had to look at the weekly chart and sit on my hands for 3 days before it set up. In the mean time, i traded daily trends instead of weeklys and i found intraday highs and lows. ( So pretty much i daytraded in a lazy way to avoid staying on the 15 minute too long. If you trade on the 15 for too long, its gonna take a lot of trades to bring you out of drawdown. Not to mention the stress of missing alot of perfect entries that all the instagram gurus brag about getting on a consistent basis. Which smells and is of BS. Instagram gurus that trade on the 15 minute alot go through alot of losses that they dont show. So my point is that the higher timeframes form direction and if the higher timeframe direction is wrong youll lose most of the daytrades you take.
From my point of view your trading time frame clearly depends upon your mental ability, psychology and risk management. I also trade HTF including 1H/30Min/4H and once you entered into the trade it takes time to hit the target and hence its a lot of boring work so to get the thrill and to maintain my psychology I also trade on Gold and EURUSD in LTF like 5/15Min with One Half or One Third Risk of what I take on Swing Trades.. So by this way my psychology remain calm
Nick in your honest opinion, how much do you think you could grow $100 in forex to in a year considering the strategy you have and what you've learned over the past couple years
Biggest tip from my opinion is to practice demo a few months. Keep on learning and learning from your analysis and once you have created a winning strategy and know how to read the market then you can go live. Most important tips are; No emotions No greed and No revenge. You must be emotionless and know how to feel positive in a negative trade. Never give up and always learn from your losses.
My advice would be to backtest a strategy, dont simulate on demo yet, its a waste of time if you dont know what you are looking for. Look for the swag academy, he shows you how to backtest for free, he is the best free content creator on the web right now, not just youtube, cheers.
if you are starting its better to daytrade.. that way you can learn the ropes , the ins and outs of trading. if you master daytrading then do swingtrading..swingtrading is more of a guessing game and needs more luck
@@jeoffreyecija9454 Swing trading is actually less caotic then day trading, the charts are much more predictable and tend to behave in a exact manner in certain areas.
HDCasas I like swagacademy but I find that he never shows using his strategy’s live. Anyone can show a strategy on a chart that’s already been laid out
swing trading in forex is not ideal because forex movement is based on news. News happens and changes everyday. But there are some pairs that are ideal for swing trading you just have to figure out and check out the different pairs. .gbpusd is one example. its because brexit news comes out every now and then and they can make trends.
That's a subjective term. Personally I'd prefer content that keeps me grounded in reality than hype which would keep getting me excited every other day... From experience I know that that's the sure road to ruin.
