Searching for Swing Trading System & experiences

[analizer]

Let me introduce myself. Im stock swing trader but who is also interested in the advantages of FX trading (newbie in this field). I sincerely believe Im getting a very value information at Babypips (congratulations to the owners.. Your School is Great !!!!... keep doing so amazing work)

I have read with much interest allmost all the babypip forum, but I didnt get much information about Swing Trading Systems... Look like the more people are interested (and luckily have the time) in intraday trading.

What about people who dont like to be glued to the screen all day, people who like to trade something longer because trading time schedule limitations (ie..watch, analize or adjust positions an hour daily).

Many traders talk about advantages of longer frames trading, but except one System (hello 1234 trader that stopped posting), I could not find anyother System...What comparision to Intraday Systems that are plenty full...
why?, ... I know everyone like fast money, but What about regularity and consistency with Swing Trading??

Can you share your Systems & experience in Swing Trading?


Greetings

[prettrad]

I would be interested to know more about Swing traders too....thanks for starting this thread..

[isydeb]

Hello analyzer, I totally agree that swing trading would prove to be a better and less stressing and more profitable experience, however when swing trading your stop loss must be very very wide, I am talking about anything from 100 to 800 pips, so when calculating your stop loss and let's say you have a $10,000 usd account so you risk 2% which is $200 divided by say 600, you'd have 33 cent pips. And correct me if I'm wrong but most of the people in the forums trade a $5,000-$1,000 (I saw this in a poll) so we're talking about a 15 cent pip or less. IMHO this contributes to day trading where your stoploss is usually no more than 50 pips. But I do think you make a point. Think of the possibilities, if you had a $1,000,000 account then your risk would be $20,000 and your pip would be worth $33 If your trade went bad you'd lose 20 grand as well, but if it went well then you'd be seeing profits of $50,000 once or twice a month. I am still saving to have a bigger account.
I personally swing trade only the pairs with a high ineterest, with a very low pip value as well, but I can hold on to them for a month or two. But I wish there were more swing traders posting systems.
Hope this helps, just my 2 pips.
Good Luck!

[analizer]

Hi isideb

Thanks for your comments.
First I would like a 1M account... just imagine..., but, "walking at the floor, I have a start amount between 10k - 15k, so probably I´ll open a miniaccount.
As I can read your comments, youre a Position Trader... thats good, but for me holding a position for months is too much time... also not enough money... but can you share your system??
I want to trade with a system that allow me to hold a trade between some days to a maximun of little weeks, and no more than a month... Thats the way I usually trade options also.
I was reading every the posts, and there is only one Swing System, unfortunatelly the author didnt post anymore... Im now backtesting James "between 40-100 pips per day" but using longer frames... Would be nice is dailycharts functions.
Then I will do the same with other posted Systems until I find someone for Swing...

Bests Regards

[isydeb]

The system is very simple actually, I just go long or short on pairs that pay interest, GBPJPY, GBPCHF, USDJPY, EURUSD, EURAUD.

On a daily chart, set up a MACD 12,26,9 Close. And that's it for indicators, wait for a bar on the MACD to cross 0 but don't enter until you have a higher high or lower low in the bars not in the candles. Here is an example of a trade I took recently on the GBPJPY and it is still open by the way.

If you see I waited for confirmation on the MACD bar before entering, I always enter at the open of a new bar that is 00:00 GMT. Your stop loss is set at the low of the candle that marked the MACD plus or minus the spread and your target should be at least 300 pips, in order to have a good risk/reward ratio. And you wait, collect interest, and once you have a 200 pip gain you move your SL to lock in 100 and let it ride till it gets to 300 or stop in 100 pips. Of course there are some losers, but when you ride the wave you make up for it.

That's it, you do not get signals very often, but when you do you should take them and let it ride.

If there is anything else I can help you with, do tell!!

[analizer]

Thanks for posting your System... and its really simple.
Do you use another indicator o another time frame for get the trend.... or you open trades in any direction no matter the trend of the pair? that means open if you open transactions only if they are with the main trend...
How much time trading with it, and can you say your average results? Are your trading with mini o normal accounts.
I didnt understand well your first post about your example with a 10K account with a risk of ie 2% and then divided by 600 that equals 0.33 pips... Can you explain it better?
Can you recommend the best ammount that work best with your system

Best regards

[analizer]

There is a new thread :

My e-book for trading daily...
by michaeldunbar

posted in the Free Forex Trading System Root.... For everyone who like Swing trading and dont like to be hours glued to the screen can be a possibility.

Best Regards

[analizer]

As i wrote before, I was testing James System 2 (he usually use it for 15 m, 1hour charts) but, as Im interested in SWING TRADING, I watched for daily chart for GBP/USD


Here are the backtest Results (from january 1, 2005 to now):

- 31 possible trades
- 7 loss trades and 24 winners
- Total Profit Pips: 4770

I used a larger stop loss: about 50 pips up or down (for short or long trades)the previus IB, and rarely use a trailing stop for exit loss

I would like your opinions about these results (specially from who trade SWING)


Best regards

Pd. If anyone is interested I will put a resume of each trade (dates of IB, open date and price open, close price and date and profit or loss)

[analizer]

This is a copy that I put also at James 2 System thread
--------------------------------------------------------------------------

Hi everyone
I have just finished backtestin James System for Daily Time frame... For me the results seems good... What do you think about them?.
***I made some corrections to previus reports (involuntary typying errors)

No more words, just look at:

[overthetop]

Originally Posted by analizer

Can you share your Systems & experience in Swing Trading?


Greetings

I am quite new to forex but I have been using a combination of swing trading and other methods. At times I have made excellent profits but I did experience a loss in February but I wasn't alone in that.
I am now trading EUR/USD and USD/CHF as a swing trade but am also combining other strategies while I'm waiting for a favourable move. At the moment it has stagnated (for 2 weeks)but I'm happy to wait for my profits and meanwhile collect swap to sweeten the pot. I am thinking of exiting this position at a loss of some profit only so I can reposition myself at the current prices.
Any opinions on that?