Do you day trade, swing trade or position trade forex?
- Thread starter nwoptions
- Start date
I'll probably just find a nice ish hotel with good wifi in the room do a deal and live there, get maid service thrown in that way, zero hassle and a hot tub
All day all night, Friday-Saturday lay off the news feed, watch the entire planet like a hawk. Sempre Villigans used at all times. Pay attention, put things in perspective, skim global news wire (Dow Jones||Rueters||etc.) Do not over extend leverage. Piker's pick away at the ......
Akuma
The ultimate end goal for both day traders and swing traders is the same; namely, generating profits. Day traders look to make a living from trading securities and typically don't hold positions overnight. By comparison, swing trading involves buying or shorting securities and holding them for multiple days to weeks. Swing trading is based on identifying swings in stocks, commodities, and currencies that take place over a period of days.
I do both, swing and day trading as per the opportunity.
I trade almost solely from daily charts. All entries are set as buys from breach of a lower daily high in an uptrend or breach of a higher daily low in a downtrend. The stop is often the opposite extreme of the day's range or a multiple of ATR20 if the range is unusually narrow.
I'd like to have a reliable daytrading strategy to smooth out capital flow so am trialling a couple of intra-day strategies. One is a London opening range breakout system on GBP/USD, though this stopped working as soon as the UK went into covid lockdown and has not yet recovered any reliability.
The other involves holding for the London session only, buying all uptrending pairs and selling all downtrending pairs. This works until it doesn't work, when you simply do the opposite. I know this sounds dumb, I hope to put up some statistics soon. I had concluded from backtesting and demo-trading that in a trend off the daily charts, price through the London session follows the trend on 55-60% of days. However, we're now in a mostly ranging market environment. Although criteria for uptrends and downtrends are still signalling, London price action has not moved to random, i.e. 50% with-trend and 50% counter-trend: the outcomes are reliably counter-trend. More soon.
I'd like to have a reliable daytrading strategy to smooth out capital flow so am trialling a couple of intra-day strategies. One is a London opening range breakout system on GBP/USD, though this stopped working as soon as the UK went into covid lockdown and has not yet recovered any reliability.
The other involves holding for the London session only, buying all uptrending pairs and selling all downtrending pairs. This works until it doesn't work, when you simply do the opposite. I know this sounds dumb, I hope to put up some statistics soon. I had concluded from backtesting and demo-trading that in a trend off the daily charts, price through the London session follows the trend on 55-60% of days. However, we're now in a mostly ranging market environment. Although criteria for uptrends and downtrends are still signalling, London price action has not moved to random, i.e. 50% with-trend and 50% counter-trend: the outcomes are reliably counter-trend. More soon.