I personally think that swing trading is the better of the two since the markets work the same on the higher time frame as they do on lower time frames. The only thing that keeps me from swing trading is that I don't have the patience nor the nerve for it. I usually get a lot of the swing trading calls right but I don't have the nerve to hold that long.
Who Thinks Swing Trading is Dangerous?
- Thread starter schizo
- Start date
That's the problem with swing and longer term plays. You have to ignore/tolerate counters against your position up to a point... and you never know that you did well on that until after the fact.
Good Morning schizo,Did you ever think it was not dangerous, especially in this current rollercoaster environment?Seriously, I really did try my best to swing for at least a few days, but I ended up losing big time...like the 60 point loss in ES today (that's $3,000 per contract) and I have no friggin' idea where I screwed up. I imagined 60 points should be more than wide enough to cushion any blows. But hell no.
Please don't tell me to tighten my stop. If I use a tighter stop, you might as well tell me to just go back to day trading.
Very good question.
Yes, I think manually guessing/discretionary swing trading with respect to day session or holding long period days is ultimately dangerous to a human being health. No disrespect to those traders that do it.
In additional, I think it is very unhealthy mentally to swing trading knowing you will have about a 40% win rate overall and have to deal with terrible drawdown. I am not sure that is healthy.
It only make logically and healthy sense to swing trade if you already have +$5 million dollars in your savings account for retirement and the option to not work or trade, and no debt.
I can say without a fraction of doubt, I hate manually guessing/discretionary swing trading with an unforgiveable passion. I seriously prefer scalping trading for less than 1 hour a day, and perfectly and mental free enjoying the rest of my 23 hours per day.
It is ok to swing trade, but not all day long 8 hours, maybe 1 hour per day and then go free the mind with other fun things in the life.
I do not think trading is meant for full time job.
Jack Kellogg is the best swing trader I ever known to date, and he did it in his 20s swing trading. Not good for +40 years old.
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You make me laugh.
You often show interest in Price TA, but apparently you don't think of applying that to swings or trades generated from the daily chart. Price TA works in all time frames and in all markets.
Swing trades are NOT more dangerous when you...
Buy Support
Sell Resistance
Chase Breakouts
Trade with Stops (Any market is dangerous without stop discipline.)
How many times have I said that before..100?
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That's exactly my issue with swing trading/longer term plays. It took me years to be honest with myself about this.
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You need a bigger account swing trading ES if $3k rattles you..
Did you ever think it was not dangerous, especially in this current rollercoaster environment?
Please don't tell me to tighten my stop. If I use a tighter stop, you might as well tell me to just go back to day trading.
You need a bigger account swing trading ES if $3k rattles you..
AMEN
If you understand the environment, that changes everything.
Did you ever think it was not dangerous, especially in this current rollercoaster environment?
Please don't tell me to tighten my stop. If I use a tighter stop, you might as well tell me to just go back to day trading.
Good Morning Scataphagos,You make me laugh.
You often show interest in Price TA, but apparently you don't think of applying that to swings or trades generated from the daily chart. Price TA works in all time frames and in all markets.
Swing trades are NOT more dangerous when you...
Buy Support
Sell Resistance
Chase Breakouts
Trade with Stops (Any market is dangerous without stop discipline.)
How many times have I said that before..100?
I am sorry for the confusion. Let me clear it up. I truly love your post. And I agree with you.
I absolutely LOVE Price TA, and it does work. No doubt about that at all.
I simply do not like Price TA, swing trading.
I love Price TA, scalp trading.
I will do Price TA, swing trading when needed, but I prefer Price TA, scalp trading.
Good Morning Scataphagos,
How do you handle the counters when you swing trade with? The counters disturb me when swing trading because when counters come, I am in profit, and if it continues to go against me, I am in loss.
Do you play with eye sight or discretionary on what to do when a counter occurs?
My thoughts are it depends on the counter in real time, all counters are not the same.