A 9 step guide on how to make your Swing Trading better : 🧵👇
• Use top down analysis to simplify your process : this simply says that analyze on weekly and enter on daily. To get precise stops, use another LTF.
• After taking the entry stop monitoring each and every move on LTF - there is just extra noise once you enter. A single 1-5 minute bearish candle cant change the thesis of your trade taken on Monthly.
• Understanding of Charts:
There are various types of charts that you can use, a few of them are Line, Bar, Candle, Heiken Ashi, Renko, Point & Figure, etc.
Get a basic understanding of these charts and pick one type that suits you.
There are various types of charts that you can use, a few of them are Line, Bar, Candle, Heiken Ashi, Renko, Point & Figure, etc.
Get a basic understanding of these charts and pick one type that suits you.
• Time Frame:
There is no perfect time frame defined. But based on experience, you can try this time frame.
⚡️Intraday - 5 mins - 15 mins
⚡️Short term - 1 hour - Daily
⚡️Positional - Daily - Weekly
Based on your style of trading, pick up a suitable time frame.
There is no perfect time frame defined. But based on experience, you can try this time frame.
⚡️Intraday - 5 mins - 15 mins
⚡️Short term - 1 hour - Daily
⚡️Positional - Daily - Weekly
Based on your style of trading, pick up a suitable time frame.
• Most traders don't check the trend of the stock on the higher frame before doing a primary analysis.
In the time frame, if you selected a one-time frame for your primary analysis, then select one higher time frame to identify trend.
In the time frame, if you selected a one-time frame for your primary analysis, then select one higher time frame to identify trend.
• Establish criteria for what counts as signal vs noise. Things are going to happen if you hold for days, weeks, or months. Which candle shuts are important? Which levels are important? You can successfully pay attention to nothing if you pay attention to everything.
• Swing transactions should be placed in a different account. Your home run swing deals will frequently be botched by your LTF gambling impulses. Nibble around experimenting in small account.
• Stop obsessing over the PERFECT ENTRY : there is no such thing i must say. The only thing perfect is RISK MANAGEMENT.
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