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Re: [amibroker] Re: Ideas for Swing Trading?



PureBytes Links

Trading Reference Links

If one is not averse to "discretionary" trading then the following two sites are good places to look for ideas.

www.dacharts.org

www.trading-naked.com



On 5/27/07, dralexchambers <dralexchambers@xxxxxxxxx> wrote:
Just to clarify - Short Swing Trading is NOT a Holy Grail, and is NOT
advertised as making 2.5% a day! I'm not sure where that idea has
come from.

To give you an idea how 1% a day is possible with intraday trading:

GBPUSD:
=======
Say you have a $40K account
5% capital risked per trade = $2000 per trade risked (Money
Management)
Each trade has a stop loss of 10 pips

You therefore buy 20 lots: ($2000/10 pips) / $10 (pip value for
GBPUSD)

1% of $40K = $400

You only have to make 2 pips profit a day (not incl commissions) to
make $400 (2pips * $10 * 20 lots)

Or if you are not happy with 20 lots (too much), 5 lots and 8 pips a
day profit.

You will still need to look at your Win:Loss ratio (eg: if you make a
gain of 2 pips 60% of the time and a 10 pip loss 40% of the time -
this is not good!).

And if your stop loss is wider, the number of lots you can buy is
less (to keep with the 5% money management rule).

However - this just goes to illustrate:

Focus on one security and nail it!

It is much easier to make a net 2 pips a day rather than going for
the 40+ trends.

Now do you see?
Alex



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