What to swing trade

This is a discussion on What to swing trade within the Swing & Position Trading forums, part of the Methods category; Hey guys, Been in a full time job and having family commitments, Swing trading over weeks is the most suitable ...

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Old Aug 28, 2010, 10:13am   #1
Joined Jul 2010
What to swing trade

Hey guys,

Been in a full time job and having family commitments, Swing trading over weeks is the most suitable type for my personality. But im not sure what to trade?

Iv read up alot about forex and chart analysis but feel that forex is too volatile to trade weekly. Would this be a correct assumption?

Whats a good alternative?
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Old Aug 28, 2010, 10:36am   #2
 
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Re: What to swing trade

For the same reasons I don't trade forex very much. I use the Nasdaq stocks mainly, which have volatilities to suit all pockets and regular trading hours. Plus, if you only trade the major fx pairs you have a much more limited pool to choose from.

Probably wouldn't suit many traders (why is fx so popular? no answers please - I can't stand the pain) but works for me.
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Old Aug 29, 2010, 9:37pm   #3
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Re: What to swing trade

I don't think it's too volatile over weeks. Just leverage your position appropriately and you should't have a problem. You also don't have to be in every pair there is.
However, I prefer trading stocks, stock indexes and commodoties. It doesn't have as much volatility as forex and runs smoother .. at least for my trading system.
Just on the sidelines .. you may want to make sure to start out with defined trading rules and a system in order to prevent losing right from the beginning .. just in case you don't have yet.
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Old Aug 30, 2010, 7:49pm   #4
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Re: What to swing trade

sheeru started this thread Thanks for the advice guys. I was just a bit stuck with what to do because i spend alot of time trying to learn forex-knowledge which will probably come in handy with any spreadbetting probably. I work from around 7:30-5:30ish so i think that it would be better to look into the Nasdaq stocks and the Dow Jones instead of the FTSE. Would this be a correct assumption?
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Old Aug 30, 2010, 11:38pm   #5
 
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Re: What to swing trade

Quote:
Originally Posted by sheeru View Post
Thanks for the advice guys. I was just a bit stuck with what to do because i spend alot of time trying to learn forex-knowledge which will probably come in handy with any spreadbetting probably. I work from around 7:30-5:30ish so i think that it would be better to look into the Nasdaq stocks and the Dow Jones instead of the FTSE. Would this be a correct assumption?
With your working hours you can devote some quality time to the USA market - closes 9pm. When I used to try to trade & work simultaneously I found i did neither very well. My advice with Nasdaq stocks is to beware of the highly volatile ones - can catch you out at first. Your forex knowledge shouldn't be wasted if you have developed a system that works for you - many systems can be applied to various instruments.
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Old Sep 6, 2010, 5:19pm   #6
 
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Re: What to swing trade

The only thing I trade is forex. You don't have to be limited to just the majors. I have 28 pairs to choose from. (Actually more than that, but that is all I trade.) I zero in on the best ones that look good for that week, and then trade accordingly. What would stop someone from trading the crosses?
As far as the suitability is to "all pockets", this isn't like the old days where you needed huge amounts to being a trading venture. Volatilities has a lot to do with personal risk tolerance.
As far as the originator of this thread is concerned, that's the main thing that needs to be addressed if you are going to swing trade. What is your risk tolerance? Also, make sure you margin in accordance with the type of trading you do. There needs to be a balance between the fear and the greed factors. All vehicles are tradeable if you have the methodology to go with it.
In trading forex, the opportunities are limitless. It is just a matter of choosing the vehicle or vehicles you want to ride in that day, week, or month. That is the biggest dilemma I have with trading is simply choosing what I want to trade. As an example many of the cable crosses are presenting excellent opportunities of what wil be excellent cable strength in the near future.


Quote:
Originally Posted by 0007 View Post
For the same reasons I don't trade forex very much. I use the Nasdaq stocks mainly, which have volatilities to suit all pockets and regular trading hours. Plus, if you only trade the major fx pairs you have a much more limited pool to choose from.

Probably wouldn't suit many traders (why is fx so popular? no answers please - I can't stand the pain) but works for me.
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Old Sep 6, 2010, 5:29pm   #7
 
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Re: What to swing trade

Better yet, start off with a demo so you don't lose live money. If someone has to ask what is best in any given situation, then they are not ready to trade live in that given situation.
Find what you want, how you want to trade it, and then make sure your methodology will fit the new paradigm. If everything matches, then you are ready to go live.


Quote:
Originally Posted by slight View Post
I don't think it's too volatile over weeks. Just leverage your position appropriately and you should't have a problem. You also don't have to be in every pair there is.
However, I prefer trading stocks, stock indexes and commodoties. It doesn't have as much volatility as forex and runs smoother .. at least for my trading system.
Just on the sidelines .. you may want to make sure to start out with defined trading rules and a system in order to prevent losing right from the beginning .. just in case you don't have yet.
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Old Sep 6, 2010, 7:15pm   #8
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Re: What to swing trade

sheeru started this thread Thanks for the reply..iv been trading forex recently and iv enjoyed it to be honest-also iv learned alot of forex theory such as fibonacci and sma's etc which are all starting to make sense and thie bigger picture is coming together slowly.
Iv got a demo acc which im gonna use to trade and im gonna try and trade everyday in the evenings for the next few months.

But what i dont understand is how do people enter a trade and then sit on it for a week and expect to generate a profit..surely forex are too volatile to do this-thats why i was asking about indexes and stocks. In order to do this do ppl set larger stop and limits to their order?
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