How do you select your trades and other advice please

This is a discussion on How do you select your trades and other advice please within the First Steps forums, part of the Reception category; stevet glad we are talking fromteh same page gordon8 in the edit part of my post i mentioned that the ...

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Old Sep 17, 2003, 1:56pm   #36
 
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stevet glad we are talking fromteh same page

gordon8
in the edit part of my post i mentioned that the "reward" part is calculated from "targets" these can be found on FTSE Beater's (FB) thread as they can take many forms some and can also be tradable patterns... some example for you are triangles and support and resitance levels again these are all on FB's thread
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Old Sep 17, 2003, 4:42pm   #37
 
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This is a really good thread to read. Sorry to show my ignorance in public , but what is the definition of a Swing trader.
I really like that no matter how much you dont know, there are kind people who advise rather make fun of the virgins.

And STEVET, i loved you comment below, and thats why im still morgaged up even though i bought my house at 20, thanks Sun Alliance twits

- and that cut is what pays them nice fat salaries - seeing as they have thrown away most peoples hard earned money on "safe long term strategies"
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Old Sep 17, 2003, 5:00pm   #38
 
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A swing trader takes advantage of short term upswings and downswings in a market or a share price.... this can be done in many time frames most people associate swing trading with overnight positions to a few days to a few weeks, as i believe it was originally intended but there is no specific definition

there are a few good books on the subject.. i however dont trade this way so am very limited. am sure someone else will be able to give you a better description of swing trading
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Old Sep 17, 2003, 11:05pm   #39
 
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Thanks Newtron, really appreciate you taking the time to answer begginers questions like these. Now i can catagorise myself, but i only swing both ways on the FTSE.

Gordon8, great to read im not the only new one here,
good luck

HB
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Old Sep 18, 2003, 1:17am   #40
mma
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madasafish ,

I hear what you say , but what size of stop loss would you use on the dax future ?
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Old Sep 18, 2003, 5:00am   #41
Joined Mar 2001
mma
I am scalping so am using the following settings:

with the trend, first move stop 5, target 5
with the trend next move,5,9

Against the trend: 3.5,5

I am using a combination of long term trends in a minute chart coupled with standard deviations to identify when the price has risen/fallen too far. This system warns you to buy within 2-3 points of a short term bottom so I use "Buy at Bid" to get the best price.. - often it tells to buy on a downbar which is immediately follewed by a big upbar so it triggers during the candle.. and instant response is needed.

I always exit on market orders because the settings above usually mean when closing a long/covering short the market is still rising or falling hence I tend to get immediate fills at or better than my target price...
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Old Sep 18, 2003, 11:43pm   #42
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mada,

thanks for that but do you mean points or tics ( 1/2 point on Fdax)when you say :

with the trend, first move stop 5, target 5
with the trend next move,5,9

cheers .
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