Swing trading best fit me, but what are the best time frames for me? And what strategy should I focus on first or best strategy for a swing trader?
You can technically swing any time frame (1 minute too small, in my opinion). With that said, the spreads come into play less when you swing 4 hour and above.
Hope this helps.
@steveepperson Wonder how spread comes into when the same price action form all timeframes. @geminitrader82 have a quick read of this thread What Time Frame Is Best?
A new thread with some good responses on it
In trading, there is no one specific strategy or timeframe suitable for any trading style. You an take a trade from the 5 minute TF and hold it for days. that is a swing trade, taken from a 5 minute TF signal. You can take a trade based on the daily TF and close in after a few minutes or few pips. That is a scalp trade taken from a daily TF.
What works for one trader might not work for another. All you need to do is try find what suits your needs. You might consider trading off the daily, H4 or H1, or anything lower, and hold your trades for days.
If you are new and want to swing trade, then I would recommend trading the Daily timeframe. Most newbies want to trade 4H and lower as there is ‘more action’ but if you actually want to swing trade then that is what I would recommend.
Heaps less ‘noise’ and if you’re going to trade based on close of a candle then technically you only really have to check the charts once per day to see if you have any entries.
Regarding strategies - just jump on tradingview, use the replay feature, pick a pair on the daily timeframe and step through years of data day by day. You will soon see a repeatable pattern that resonates with you. This is very basic but in my eyes a good place to start.
If you don’t rush, like it sounds like you aren’t, then you will be able to test, tweak and optimise to find something that works for you.
Good luck,
Nathan
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There is no specific time frame that I would like to mention. Whatever suits your trades is good for you. The price action strategy works really well for me.
I have tried a lot of trading styles but none of them worked for me as well as swing trading. With swing trading, I have been making 10-25% profits on a monthly basis. There is nothing more I can ask for.