swing trading versus day trading

Quote from bighog:



PS: daytrading is actually easier than swing trading because at any moment you can get flat and go out for lunch or whatever and come right back and pop up your chart and "carry on". To swing trade is to worry, screw that. :D
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Actually its the other way around. I took a trade on wmt, and for three days I just watched. No pressure. If i wanted to i could move my stop to breakeven. Swing traders arn't trapped in their seat for 6.5 hrs shooting for nickles, and dimes. Hell if I wanted to, I could sleep all day till 2pm, and check for new trades and manage positions. Commission cost / profit ratio is much higher too, meaning swing trading has better profit margins.
 
konviction


Registered: Dec 2009
Posts: 140


01-15-10 09:07 PM



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Quote from bighog:



PS: daytrading is actually easier than swing trading because at any moment you can get flat and go out for lunch or whatever and come right back and pop up your chart and "carry on". To swing trade is to worry, screw that.


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Actually its the other way around. I took a trade on wmt, and for three days I just watched. No pressure. If i wanted to i could move my stop to breakeven. Swing traders arn't trapped in their seat for 6.5 hrs shooting for nickles, and dimes. Hell if I wanted to, I could sleep all day till 2pm, and check for new trades and manage positions. Commission cost / profit ratio is much higher too, meaning swing trading has better profit margins.

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Who the hell wants to sit for days on end and WATCH a dog like WAL-MART? Get a life sonny. :p

You sound like the usual dreamer of wanting to become a real life trader and trade with a laptop on the beach surrounded by hot babes making millions. :D
 
Reasoning that swing trading is more risk then daytrading, well if i am not glued to the screen of daytrading I can have an easier second income. That can soften the blow from blowups. With daytrading I can only have weekend jobs which earn less money??!!

So yeah I think swing trading has more dangerous gaps but with daytrading you're so reliant on one source of income. Also I don't think I have the focus you need for daytrading. I just don't want to feel like a screen monkey.
 
Screen monkey, How cute!!!

Please answer me how you intend to learn how to trade without paying the dues for entry?

Wide eyed ideas of using a "hope-rope" to learn will not get the job done.

This is what i get for answering idiots in this so called trading thread.

We need a kindergarten thread for you bozos. Please tell me to quit answering rookies stuff. PLEASE :D

HOG OUT ,
 
Quote from NoDoji:

I would add: Say to yourself out loud what price should do and why. Say it twice out loud, then pull the trigger. If price doesn't do THAT, you're out, whether a day trade or a swing trade.

Now if I could only get myself to pull every trigger...
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I agree 100%. We are huge advocates of talking through a trade. I have found that the quiet trades are often losers. If traders are trading in a group, in a room, they tend to be quiet when they are doing trades outside of their discipline, to avoid the scolding.

It even helps when you are alone. It is like "measure twice, cut once"

Brendan P. Byrne
 
Quote from M Jared:

Swing trading scare the crap out of me do to the risks of huge overnight gaps
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Then sell down to Livermore's 'sleeping point" and forget about it. A swing trader has to account for that possibility.
 
Quote from BrendanByrne:

More risk could mean more losses.
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In my opinion your risk should be known in every single trade you enter, completely takes the fear out of trading. I also see more or less risk as relative; 100 shares with a $10 stop vs 1000 shares with a $1 stop etc., just gauge it with the trade I say. You wouldn't enter a 5 month trade with a 1pt stop, likewise you wouldn't enter a 5min trade with a 10pt stop. :D

I'm sure you already knew this Brendan as judging by your posts, I just wanted others to see this. :p
 
Quote from murphmack:

In my opinion your risk should be known in every single trade you enter, completely takes the fear out of trading. I also see more or less risk as relative; 100 shares with a $10 stop vs 1000 shares with a $1 stop etc., just gauge it with the trade I say. You wouldn't enter a 5 month trade with a 1pt stop, likewise you wouldn't enter a 5min trade with a 10pt stop. :D

I'm sure you already knew this Brendan as judging by your posts, I just wanted others to see this. :p
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Absolutely. I will not enter a trade unless I know where I can get out, if I am wrong.

Brendan
 
Brendan, you sound like you have a head on dem dar shoulders. Here is a little tip for someone like yourself that can tell the difference between .... is it.....shit or shinola.

Review yesterdays 5 minute ES chart and observe 4 KEY reversal bars. #1 shows a KEY bar at the start of the regular day session and shows a KEY REVERSAL at the top at 0930 est.

Next KEY bar is at 1015 and shows a up reversal that failed to provide profits. I will tell you why a little later.

Next KEY bar was at 1040, another up reversal which also failed to show some profits. Keep in mind a KEY bar must have something to reverse but in a game of odds we are aware not all ladies dress alike.

Next KEY reversal bar occured at 1245. that was the last one that mattered for the rest of the day.

What did you notice observing those 4 bars? Why did 2 show no profits and the other 2 CAUGHT the days entire range? What was the distinguishing factor that made the difference between 2 tradable signals and 2 untradable signals of the same breed?

I will check back later and see if you found the answer. Later, i give the answer. :) :cool: Enjoy!!! (i bet 2 out of 10 will give the right answer

PS: In case you youngins do not know what shinola is..

http://www.phrases.org.uk/meanings/114000.html

PS: anyone can chime in, but no kinder stuff needed.
 
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