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Suggestions on swing trading
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Suggestions on swing trading

  #1 (permalink)
Elite Member
Jurong Singapore
 
Futures Experience: Beginner
Platform: NinjaTrader
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Posts: 72 since Jul 2012
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Suggestions on swing trading

Hi guys,

I noticed YM seems to swing in 1-4 weeks trends.

Have anyone tried this?

I was thinking of a daily chart for entry and a weekly chart to confirm direction.

Would that be too long? Or a 4h chart for entry would be better?

Also, what would be suggested to look out for?

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  #2 (permalink)
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  #3 (permalink)
Site Administrator
Manta, Ecuador
 
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Azrael View Post
Hi guys,

I noticed YM seems to swing in 1-4 weeks trends.

Have anyone tried this?

I was thinking of a daily chart for entry and a weekly chart to confirm direction.

Would that be too long? Or a 4h chart for entry would be better?

Also, what would be suggested to look out for?

Your question is impossible to answer as you've not provided enough detail.

"Would that be too long"? Too long for what?

I certainly encourage swing trading over day trading, especially if you do not already have a consistent track record of profits over several years.

Simply size yourself accordingly. Trading YM futures might be too big depending on your account size, and you could instead start with ETF's for example.

I covered this here in detail:

https://futures.io/webinars/jan14_2012/where_to_start_part_1/

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #4 (permalink)
Elite Member
Jurong Singapore
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: Optimus Futures/Rithmic
Favorite Futures: TF
 
Posts: 72 since Jul 2012
Thanks: 39 given, 7 received


Big Mike View Post
Your question is impossible to answer as you've not provided enough detail.

"Would that be too long"? Too long for what?

I certainly encourage swing trading over day trading, especially if you do not already have a consistent track record of profits over several years.

Simply size yourself accordingly. Trading YM futures might be too big depending on your account size, and you could instead start with ETF's for example.

I covered this here in detail:

https://futures.io/webinars/jan14_2012/where_to_start_part_1/

Mike

My bad.

I was referring to an entry chart of daily bars for a position that lasts 1-4 weeks. Would that duration be considered to imprecise?

What is your suggested account size for a YM contract then?

Sure will have a look once I get off work =)

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  #5 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,238 since Jun 2009
Thanks: 29,350 given, 83,221 received


Azrael View Post
My bad.

I was referring to an entry chart of daily bars for a position that lasts 1-4 weeks. Would that duration be considered to imprecise?

What is your suggested account size for a YM contract then?

Sure will have a look once I get off work =)

Roughly 20K per contract. I use daily bars for swings that last 4 weeks.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following 3 users say Thank You to Big Mike for this post:

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