11th grade simple swing trade question

[mikar68]

I am fairly new to swing trading and thougth I would try the Babypips technique listed in the 11th grade tutorial. I really like this technique and think it will be a good long term option. My question is it is not very clear if I should wait until the daily candle closes and the rest of the indicators line up to place a trade or if I should place a trade as soon as all the indicators line up. It seems like if I wait I will need to place a stop larger than 30 pips like they suggest. What are your thoughts to waiting on the close of the candle or not.
I know this is just an example of a trading sytem in the 11th grade stuff but it really does work. I just would like to define it a little.

Thank you
MIkar68

[toptick07]

Most traders wait for a bar to close before taking action. I suggest back testing your idea on the pairs you plan to trade and use your historical data to guide you as to how wide a stop you need. You will need to make further adjustments as you progress based on changes in market volatility.

Hope this helps.

[mikar68]

I will backtest and see what happens. Does anyone have a prefence as to good currnecy pairs to swing trade. I know this is all preference but experience says a lot.