Following the explicit post on daytrading, this is a modest attemp on Swing trading strategy.
I am no expert and so this should be taken with a pinch of salt but the idea is to draw contributions from the real experts.
Over the past two months, I have been using a combination of ADX, MACD, Binary wave composite and any of the expert advisors ( Martin pring or Rex Tsasugi). Chakin's volatility is another which may be effective though I have not thoroughly tested yet. I have bollinger bands on the main chart though I only follow one rule-low volatility begets high volatility and vice versa. Martin pring long term momentum was suggested by Viratech
Along with the above I feel that an RSI>60 is bullish and RSI<40 v bearish generally. Otherwise one has to be flexible depending upon the previous scrip position. Stochastics can be used to finetune decisons to some extent though one is obviously better of with 30min 60min chart.
It goes without saying that charts are more important than indicators. I use two different templates- one with the above indicators and one only with price voume, volatility and RSI( both for divergences and price patterns). I use EMA 7,13,20.
For daily trading, weekly trend has to be seen and so perhaps for swing trading, people maybe using monthly charts. I don't.
One can always see whether or not its a market outpeformer using the Relative strenght comparative. This and the 3%,5%,8% guideline that are there in tradersedge newletter(I came to know recently) offer very good insights and targets.
The pundits are welcome to tear me apart.
I am no expert and so this should be taken with a pinch of salt but the idea is to draw contributions from the real experts.
Over the past two months, I have been using a combination of ADX, MACD, Binary wave composite and any of the expert advisors ( Martin pring or Rex Tsasugi). Chakin's volatility is another which may be effective though I have not thoroughly tested yet. I have bollinger bands on the main chart though I only follow one rule-low volatility begets high volatility and vice versa. Martin pring long term momentum was suggested by Viratech
Along with the above I feel that an RSI>60 is bullish and RSI<40 v bearish generally. Otherwise one has to be flexible depending upon the previous scrip position. Stochastics can be used to finetune decisons to some extent though one is obviously better of with 30min 60min chart.
It goes without saying that charts are more important than indicators. I use two different templates- one with the above indicators and one only with price voume, volatility and RSI( both for divergences and price patterns). I use EMA 7,13,20.
For daily trading, weekly trend has to be seen and so perhaps for swing trading, people maybe using monthly charts. I don't.
One can always see whether or not its a market outpeformer using the Relative strenght comparative. This and the 3%,5%,8% guideline that are there in tradersedge newletter(I came to know recently) offer very good insights and targets.
The pundits are welcome to tear me apart.
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