Swing trader
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Thread: Swing trader

  1. #1
    Join Date
    Nov 2006
    Posts
    11

    Default Swing trader

    Is a time frame of 4-hour, daily and weekly chart good for a short time trader? For my situation should I place the exit and entry on the daily chart or on the weekly chart. I plan to do one to three trades per week.

  2. #2
    Join Date
    Dec 2006
    Location
    Cairo, Egypt
    Posts
    327
    First of all, I suggest that you read babypips fully explained guide for using multiple timeframes. Found at:

    http://www.babypips.com/school/which...d_i_trade.html

    Regulary if you plan to do one to three trades per week, I think you need to use 4hr chart. but even though, a trade can last for weeks thats produced from either 4hr or daily. It depends on the life time of trend.

    Lets say, you can use your 4hr for entries, while getting confirmation from daily chart. Also add the weekly chart to view the bigger and most correct market trend. See whether your timeframes line up together. Note..Some trades enter only when the 3 timeframes agree.

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