Swing Trading Woes

[trolloc63]

Beginning Forex trading is kind of like Notorious BIG song, except it is “more info more problems”. After more non-stop research and headaches, I am attempting to learn to be a swing trader. I have a general understanding of what is needed after too much research. So here we go:

Setup a watch list with major pairs, correlation of pairs pending review. After this, my main time frame will be daily charts, with 4 hour entries. Then just scan the charts for good setups.

While all this is well and good, I have seen almost no good answer on time to enter. From what I could gather, the market if generally most volatile first thing in the morning and at the end of the day, leaving mid-day when things die down a bit. But I still work a day job and cannot do this most days. Therefore, I need to find a good time to go long/short.

Thoughts?

[trolloc63]

Wow. No responses.

[jafooly]

There is no correct answer here, especially as you work a day job.

Just like everything else, you need to test, you need to open up a demo, and treat it like a real account and find what works for you.

Just make sure you’re looking at the bigger picture, with a top down approach, weekly, daily then 4 hour.

As I don’t bother to time my entries, I can’t really add much more.

[gp00053]

@trolloc63

Thoughts?

Don’t try to pick tops or bottoms enter your trades with a pending order with stop loss, entry and take profit then go to work when you get home if trend continues wait for a pull back and reenter or look for other set ups.

Hope that helps. Mind your position size.Always protect the bankroll
Hope that helps
Gp