Learning to Swing Trade - Exploration

[SCF]

sir my another query is that where we expect a reversal in pullbacks and
corrections and how are they confirmed means from other sources i have learnt fibbonacci retracement+sma30 or midway of gaps or large candles and
confirmed by bullish and bearish candle stick patterns such as hammer,shooting star,doji,kicker,engulfing etc.
Sir i got their basis accenture but will u light on this subject with extensive
details.
Plz sir it will help many others
again a word of heartly thanks for your valuable knowledge sharing:thumb:

Hi...Rover,
We are all learners here. I would be happy if you call me simply SCF instead of "SIR".
In Swing Trade, 3 continuous updays or downdays give a swing signal.
Other things what you mentioned are additional knowledge which may be helpful or strenghten our base.
To be frank, I am discussing here a raw way of taking Swing Trade signals. You can add other indicators or other analysis to confirm these signals. Retracements, 10SMA, RSI/William%r/Stochs etc may add strength to your Swing Trade Analysis.
Good luck friend.

 

[LOVETHEROVER4]

Actually sir i m much juniour to u agewise else i will definately adresss u as SCF but although no one knows my age i can address as SCF but its not giving me a satisfied feeling and further u r guiding us to valuable somethings so sorry SIR but i will call u Sir hope u dont mind it

 

[LOVETHEROVER4]

another query that i will put is
according ur earlier posts sideways ranges are tradable if there is significant diffrences bw high and lows suppose u got an good entry and next day happens to be a large day i.e at that day u will see ur trade going in your favour but as a rule of SL u will keep it below the low of earlier day the subsequent day becomes a down day and ur SL get hit than it will give u a damn feeling so cant we modify our SL rule in way that if large profit materilize on a single day why not take (profit 3 time to risk taken) them atleast on half of ur position(u can say it my impatience)but i think if large profit materilize on sud take them and i m talking abt of trading ranges. Sir plz correct me

 

[SCF]

another query that i will put is
according ur earlier posts sideways ranges are tradable if there is significant diffrences bw high and lows suppose u got an good entry and next day happens to be a large day i.e at that day u will see ur trade going in your favour but as a rule of SL u will keep it below the low of earlier day the subsequent day becomes a down day and ur SL get hit than it will give u a damn feeling so cant we modify our SL rule in way that if large profit materilize on a single day why not take (profit 3 time to risk taken) them atleast on half of ur position(u can say it my impatience)but i think if large profit materilize on sud take them and i m talking abt of trading ranges. Sir plz correct me

OK...Rover....
As you wish.

After taking position, if your trade is in a hefty profit. You should definitely book profit of a majority of position. May be upto 75% of holding. That profit should make you comfortable to withstand a downday after an upday.
Moving a Trailing Stop Loss in oneday may result in whipsaws which can make us more uncomfortable.

Swing Trading Gurus suggest us that we should aim for a profit of 6-10% profit. Some of them are quick to book profits even if it small. So, if our position results in profits immediately there is no reason waiting any more. We should immediately book 100% profit or atleast a majority of partial profit.

 

[veluri1967]

I think the following article adds to the flavour of this thread.

Lots of traders buy useless strategies which all lose money instead, of using the two great strategies we are going to look at here which have made hundreds of millions of dollars, over the last 25 years. Let's take a look at them.

You can use these strategies as they are outlined or incorporate in your own strategy and any trader can learn from them. Let's take a look at them.

1. Richard Donchian's 4 Week Rule

This is a one rule system from one of the true trading greats who was one of the most influential traders of all time Richard Donchian. It works by catching and holding long term trends and it only has one rule - Buy a 4 week high and hold it, then wait for a 4 week low, liquidate the long and go short.

A nice simple system and it works! It takes discipline to follow but it's been making savvy traders money for nearly 30 years and will keep doing so as long as markets trend. We would recommend an exit filter to smooth the equity curve but it works either way, test it for yourself and see. We have written about filters in other articles so look them up.


#Rules:
#Enter long when the close exceeds the high of the previous 20 bars on daily charts or 4 bars on weekly charts.
#Exit long when the close falls below the low of the previous 10 bars on daily charts or 2 bars on weekly charts.
#Enter short when close falls below the low of the previous 20 bars on daily charts or 4 bars on weekly charts.
#Exit short when the close exceeds the high of the previous 10 bars on daily charts or 2 bars on weekly charts.



2. Richard Dennis - The Turtle Trading Rules

Another true legend of trading and by coincidence, a fan of the 4 Week Rule and this is another breakout methodology which made huge gains, taught to a group of novice traders when they traded it, they ended up making several hundred million dollars in just a few years.

More complex than the 4 Week Rule and not as effective as when first realized it still makes money and any trader should look at it for the money management rules alone - this system has all the basics a good system should have, so look it up.

Two Free Systems that are Proven to Make Money

Both systems should be studied by new traders, not only are they free but unlike a lot of systems sold heavily online they have made a lot of money hundreds of millions of dollars of profits and you have everything to gain and nothing to lose, by studying them.

 

[LOVETHEROVER4]

looking forward for further education

 

[SCF]

Sorry friends for my prolonged absence.

Today let us study Unitech on the past data chart covering upward, sideways and downward moves. Let us apply the learned stuff.

For convenience I have marked the bars in tens.

See the chart and my analysis to enter the trades. Let us see how much we can make. The chart is about 100 bars.

1st Bar - No comments.
2nd Bar – Upday.
3rd Bar – Inside Day. Ignore.

Note – Now Watch EMA lines. All the three are looking up. Obviously it is linear phase. Good upward move. We should look for retracement to enter the trade.

4th Bar – Obvious Swing High. That is higher than Bar 2.
5th – 7th Bars – Downdays.

Note – Bars made a continous three downdays. 7th Bar makes our swing low. So, if the 8th Bar takes off the high of 7th Bar we should enter the trade.

8th Bar – Another Downday.

Now, we should enter long when the high of 8th bar is taken off.

9th Bar – Upday. We are long into the trade.

 

[yanren_kikon]

how do i get chart data on the gannalyst

 

[yanren_kikon]

Anyone please update me.. I use fx graph and investar software.. How do i import them to the gann software

 

[yanren_kikon]

How do i feed the chart into the gann software.... I dont use metastock software