Swing trading's indicator

Discussion in 'Trading' started by roumeo, Jul 18, 2003.

  1. roumeo

    roumeo

    Look like Swing trading is totally different from Day trading. The view between these two trading style is totally different. For day trading, chart and execution of trades are more important, but for swing trading, trading system and analysis are more important.

    Here, I want to ask what I should do next in order for me to be a successful swing trader from a day trader?
     
  2. lindq

    lindq

    What has been your trading experience so far? How long, and under what conditions?
     
  3. roumeo

    roumeo

    not quite long. Only day trade for almost one year!
     
  4. lindq

    lindq

    I would recommend starting with Alexander Elder's "Trading for a Living". Think in terms of setups on multiple time frames, at least daily and intraday. Use basic indicators on daily bars for setups, then look to intraday price action for specific buying signals once your daily parameters are met. Personally, I trade countertrend, buying weakness on good stocks with strong EPS, and hold for 4-5 percent. Backtesting, and your own personality for trading, will show you what's best. But this type of market - volatility in a general uptrend - supports this type of system and is a good place to start.
     
  5. Lovelitera

    Lovelitera Guest

    For starters you could carry part of your successful daytrades overnight if they fit into a larger pattern of swings.

    Pattern of swings? They are so many methods.
    Some sources: Active Trader Magazine, Pristine.com LBRGroup.com (Linda Bradford Rashke), Tradingmarkets.com
     
  6. for one things you need to trade less. For another you have to size you share volume lower. Opening gaps can hurt badly if you are in the wrong direction.