Every successful trader's trading journal

Trading is difficult & easy at the same time.
What makes it difficult is the emotion that you have to cope when you're experiencing drawdown on your trade.

Please note that drawdown is part of the business.
Cutting loss of a prolong & big drawdown is part of the business.
Taking profit partially & in full is part of the business.

Trading strategy isn't complete without a proper exit plan

I'll be back for more update

Day(intraday) trading vs Swing Trading

I'm a day trader & my strategy is simple to follow.
It's applicable to all timeframe. Before we go through the strategy let's go over the difference.

1) Day trading gives you more opportunity to place trade. Swing trading could give you at least 2 trading opportunities per week as swing trading often relies on higher timeframe to spot opportunities. Unlike daytrading the highest timeframe that's often use by many traders is 4hr and they use 5 or 15m timeframe to execute a trade thus you could get at least 10 trading opportunities per week!

2) Smaller risk trading with swing trading strategy because of smaller stop loss (20 to 50 pips SL). You won't have to go through big drawdown like in Swing trading (minimum 2x bigger than day trading's stoploss) for a very long time

3) When you lose a trade during daytrading, you can immediately look for another opportunity to cover the previous loss.

For these reasons I prefer to day trade than swing trade

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