If a trader is starting out, in terms of how fast can he progress to being consistent, who has the advantage? I would be inclined to say that swing trader will still be waiting for his first trade on a day chart, while someone who is trading an hourly chart or smaller will have by that time already taken some trades and gain more experience. When you are starting out, it is always better to work on smaller timeframes, just for the sake of getting the experience faster. A newbie swing trader might waste weeks to months just to find his system never had a chance. Day trader would have found out in a day ot two.
1 Like
@Sigridskyler thanks🤓
In my experience still comfortable trading with swing trading plan, rather than as scalping or intraday trading, because I am included as busy trader that not always able to keep monitoring the chart, with using swing trading plan it can make more comfortable because not always must to monitoring the chart, usually will come back again after day to look development of the market and my plan
Not sure I agree with looking only at D charts if swing trading? I look at 2H and 4H.
Maybe lower time frames then that for entry/exit, but not just D charts.
The person who takes the time to learn the basics, builds a strong foundation, understands that whether you label yourself a swing, scalp, intra day or day trader, means less than nothing and puts you at a strong disadvantage. Your risk management plan and your trading method written out is what gives you the advantage based on facts, options and evils. Short cuts, limited or no understanding of the foreign exchange minimal effort puts at a no win disadvantage.
My opinion, start with babypips school, and take what you learn from there to get you to the next level and keep on learning and apply what you learn to your plan.
Gp
3 Likes
@Sigridskyler I agree…hence I’m loving 
BabyPips. Still at Kindergarten
There is absolutely no advantage from being in a hurry to do things wrong and go down the wrong road. All that means is you reach the scene of the accident sooner.
Your learning should be done before you enter the real trade. Once you enter, price can only do two things - go up or go down. If e.g.it goes up, it can only go up faster than expected or slower than expected. So you can’t definitively know in advance which route it will take but there is a limited number of routes and you should be able to plan ahead how you will respond.
Try learning chess.
2 Likes
how can i backtest my strategy? are there any websites or anything for it? i tried backtesting and ea in mt4 but i cant wotk it out, its too complicated.
Don’t waste time trying to do doing more and more backtesting, its a cul-de-sac. Get on and demo your strategy in real time.
1 Like
I have to agree. But keep in mind that is tommor and my opinion; not a fact. I did back testing, I found it was better to go on to a demo and test the strategy that way. Again my opinion based on what I did. I also go to a chart go back a month and see how I would have done applying a strategy
1 Like
Why not trying to learn manually rather than using ea, if someday later already having profitable system trading might forward to create an ea based on these system trading, there are so many ea even as free and paid ea, but choosing one great and profitable ea is not easy at all.
1 Like
In my opinion, which timeframes to trade isn’t a big deal though I can say trading on higher timeframes is less stressful compared to lower timeframes.
It’s important for a trader to put more work and time experimenting his trading way because at the end of the day profitability depends much on trader’s best strategy and proper risk management.
As traders, we should focus much on improving our trading skills consistently because within mastery of trading it’s where fortunes are made.
1 Like