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Intraday swing trading

  • Post #1
  • Quote
  • First Post: Mar 14, 2023 5:40pm Mar 14, 2023 5:40pm
From what I read on forum most traders scalp.

This topic is about this specific segment, intraday swing trading.

To me, a intraday swing trade has a minimum 50pips profit target. And the entry exit is on the same day.

Why most traders scalp instead of swing trade intraday?

Imo, there's zero trading strategy in this segment.
If you disagree, pls point us to such strategy.

Why I bring up this specific topic?

Imo, the current market structure or some call it market mechanism knowledge is faulty. And outdated.

I claim traders can only execute intraday swing trades only if there's proper reliable market structure knowledge.
You are welcome to post your opinion and discuss.

The purpose of this thread is to discuss the status of currently available market structure, or some call it market mechanism knowledge which imo is faulty and misleading.

Which directly contributed to most traders scalp instead of swing trade intraday. Therefore it limited the ability of the trader to swing trade intraday.

Imo, if the available market structure knowledge is faulty in this intraday segment, then by extension, there's a problem with swing trading as a whole.

This is a discussion. Everyone is entitled to his/her opinion. Disagreement is normal. But personal attacks will be dealt with swiftly. I allow off topic discussion as long as it make sense.

Cheers
Trade the value
I commend you sir for having the courage to start a forum thread on a controversial topic, as it takes a lot of bravery to open up a dialogue on sensitive issues and encourages constructive conversation and growth.
I am interested in how this develops.
I've tried to follow some of your ideas, but I must admit I'm confused about things ....

The importance you place on H4 candles. Important events like European and US market opens happen mid-candle. So, are you putting greater importance on the OHLC of these candles than the actual prices at market open? Actually, why should we bother packaging price within intraday timeframe candles anyway?

"To me, a intraday swing trade has a minimum 50pips profit target. And the entry exit is on the same day."

The 50 pips minimum ..you've mentioned this many times. I guess you've worked out this is some kind of minimum amount of pips that the "big boys" are interested in for a single trade? To me, that's a big chunk for a single intra-day trade. I find it much easier to take the smaller scalps from smaller intra-day swings, but I'd be very happy to be proven wrong, as your method would be much less hassle.

Regards
DM
Quoting Danger-Mouse
I am interested in how this develops. I've tried to follow some of your ideas, but I must admit I'm confused about things .... The importance you place on H4 candles. Important events like European and US market opens happen mid-candle. So, are you putting greater importance on the OHLC of these candles than the actual prices at market open? Actually, why should we bother packaging price within intraday timeframe candles anyway? "To me, a intraday swing trade has a minimum 50pips profit target. And the entry exit is on the same day." The 50 pips...
Big Boys must have a 55pip targets to trade, if they close the day with 3 trades of 25pips they are in trouble
I commend for taking this Big Brave Step and starting your own thread.

I look forward to interacting whenever I can and hopefully some of the big questions will get answered without any distractions.
Follow the Money
I wrote many technical points of trading on Andy's "Flying Dutch" thread. If you're interested read my post history.

This is the reference post that summarise intent to target trading.
https://www.forexfactory.com/thread/...6#post14348356

This is the key post.
https://www.forexfactory.com/thread/...2#post14347232
Trade the value
  • Post #7
  • Quote
  • Edited 9:19pm Mar 14, 2023 8:25pm | Edited 9:19pm
I declare upfront I am a trend following trader. I am not a contrarian trader. I make this declaration post so readers understand where I stand and where I am coming from when they read my post.

I am not a scalper, I don't scalp.
Can I scalp?
Ofc yes, I chose not to scalp to remain focused on my chosen trading style.

I am a intraday swing trader.

Imo, we excel when we define the specific type of trading we chose to suit us for whatever the reasons.

If the trader takes all sorts of trades, this lack of focus will not lead to excellence. Imo.

I don't believe in traditional technical analysis.
I think candlestick patterns and price action is useless and dangerous.
In the context of 50pips minimum swing.

For the many members who got insulted by the above para, I welcome them to demonstrate how they can be useful.

Edit - I am not here to teach you how to trade. This thread is a discussion thread in the discussion section, not a strategy thread in the trading strategy section. Ofc I will post charts to demonstrate what I mean in my writings.

I start this thread because I think it's important we DISCUSS controversial topics, get different opinions and viewpoints. My position is current knowledge and technical content is faulty and misleading which is damaging to the trader. Hence this discussion thread. Tell us what you think, whatever it may be.
Trade the value
I also declare that most of what you understand about trading, ie. technical analysis was given to you by someone else. You read books, watch YouTube videos or read forums like FF.

You accept such given knowledge as gospel truth, without using your mind to critically appraise the technical content. As a result you became the "herd".

I wrote earlier, the reason why many traders struggle with trading is due to faulty inherited market structure knowledge and their belief and reliance on the infamous price action that makes it dangerous.

For those who disagree, you are entitled to your opinion. Better still, demonstrate how to use price action in a minimum 50pips profit target intraday swing trade.

To me, price action can be use for entry execution.

Cheers
Trade the value
Good on you BW, wish you well, sir. I think this is best you and your good followers also.
Quoting TimeTells
Good on you BW, wish you well, sir. I think this is best you and your good followers also.
I appreciate more if you participate in this discussion.
This is a discussion, not a I tell you thread.

Ofc I will tell my position as OP, someone has to take the lead. I am always open to listen to other people's position, opinion and viewpoint. I stand to be corrected. I strongly believe traders on FF gain much by talking with fellow traders on controversial subjects in a mature manner. Hence this thread.

I can give assurance I WILL readily accept other people's points of view.

This is the thread which allow ANY OPINION without bias. No one will be shamed or degraded by his opinion. There's no need to get angry and feel offended with someone else with a different opinion. Keep your post on technical aspects of trading. Personal attacks will not be tolerated. This how I moderate this thread. Cheers
Trade the value
Quoting BWilliam
From what I read on forum most traders scalp. This topic is about this specific segment, intraday swing trading. To me, a intraday swing trade has a minimum 50pips profit target. And the entry exit is on the same day. Why most traders scalp instead of swing trade intraday? Imo, there's zero trading strategy in this segment. If you disagree, pls point us to such strategy. Why I bring up this specific topic? Imo, the current market structure or some call it market mechanism knowledge is faulty. And outdated. I claim traders can only execute intraday...
the technicals are the same for swing trading as scalping. People just dont have the patience to sit for 15 or 60 minutes watching as a signal develops. when i put on a trade off the 15 min. chart i go lay down on the couch and watch dick van dyke or rockford files, magnum p.i. or even bonanza LOL for an hour so i dont get crossedeyed watching all the flashing lights and squiggles forming on a chart. Newbies, especially, think they have to be in the market at all times unless theyre going after the thrill of entering a trade so thats why they scalp. 40 times a session.

people get addicted to clicking the entry button same as gamblers do throwing dice or pulling the slot machine arm
Quoting BWilliam
I declare upfront I am a trend following trader. I am not a contrarian trader. I make this declaration post so readers understand where I stand and where I am coming from when they read my post. I am not a scalper, I don't scalp. Can I scalp? Ofc yes, I chose not to scalp to remain focused on my chosen trading style. I am a intraday swing trader. Imo, we excel when we define the specific type of trading we chose to suit us for whatever the reasons. If the trader takes all sorts of trades, this lack of focus will not lead to excellence. Imo. I don't...
Hi BW

I am also a trend follower as well but the reality is it’s a big Ponzi scheme started by some market maker at the start of a trading session. If we need 50 pips to achieve our trading goals, we need a steady stream of market participants entering into the markets after us with an incorrect bias.

Those traders that enters first make the serious money, the late market participants are just likely to be trapped when the trend fails. So getting in early before the masses arrive is a great plan.

Can I say scalping isn’t a four letter word, it’s a highly profitable way to make money with the added ping.

Looking forward to seeing where this thread goes.

Cheers
Trading thin liquidity at the boundary of the charts
Quoting RickM
{quote} Hi BW I am also a trend follower as well but the reality is it’s a big Ponzi scheme started by some market maker at the start of a trading session. If we need 50 pips to achieve our trading goals, we need a steady stream of market participants entering into the markets after us with an incorrect bias. Those traders that enters first make the serious money, the late market participants are just likely to be trapped when the trend fails. So getting in early before the masses arrive is a great plan. Can I say scalping isn’t a four letter...
Hi buddy, I thought the best way is to lay out my thoughts here. After that I'm done.
I don't know how this thread develops, I won't spend too much time on here.

About this reference to scalping.

Don't get my message wrong.

I believe there's more than one way to trade profitably.
At the same time there're thousands of strategies that are bad.
Few gems versus thousands trash.
One thing certain for me, strategies from youtube videos are garbage.

Imo, RickM is an expert scalper, read his post to find out.
I endorse 100% his scalping method.
Why?
Because it's well researched, great creative thoughts and objectively quantified.

I don't scalp so you know where my post comes from. Cheers
Trade the value
  • Post #14
  • Quote
  • Edited 2:43am Mar 15, 2023 1:16am | Edited 2:43am
I jump straight into intraday swing trades. Focus on market structure.

In this example GU, there's the dol, the support level(blue box) and the north target(adr high band) for a bullish pair. Buy the dips at support. For bearish pairs there's the dol, the resistance level and the south target.

I look at m15 chart with the dol and adr.
For m5 chart, I look at h4 open line, and average h4 range.
For m1 chart, I look at h1 open line, and average h1 range.
Edit - which has it's own support resistance level depending on bullish or bearish intent during the session.

The smaller the timeframe, it moves toward scalping.

The problems are,
1. How to know whether banks are bullish to push price higher or not, market intent?
2. How to know where's the support level?
3. For me, since I aim for 50pips profit target, the banks target intent is not important to me.

I am not here to provide answers to both questions. This thread is not about that.

This thread is about discussing,
1. Market structure or mechanism which supposedly tell whether this intraday market is bullish or otherwise,
2. How do we tell the support/resistance price levels?

Tell us how you know.
Attached Image (click to enlarge)
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Trade the value
  • Post #15
  • Quote
  • Edited 1:37am Mar 15, 2023 1:27am | Edited 1:37am
If the market trades above dol and stay above the support level(blue box), it's likely the banks push it in the direction towards the top adr band. The opposite is true.

For GU today, given the lack of volatility yesterday, it's likely banks may push price below dol and blue support level. Let them show their hand. We watch.

The m5 and m1 pics.

The question is,

At which point today we know the banks intent for this pair.

Let me remind everyone.
I am showing you how I track this market, my way how I aim for 50pips profit target.
It's not the only way.

Tell us your way. This is what this thread is about.
And post your opinion about the matters of opinion I posted above.
Attached Image(s) (click to enlarge)
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Trade the value
  • Post #16
  • Quote
  • Edited 2:28am Mar 15, 2023 1:59am | Edited 2:28am
For the member who asked me about GY yesterday,

H1 shows the pullback, H4 shows the banks intent.

This is the reason why I call the banks intent as h4 intent for intraday.
This makes it important info to intraday swing traders.

This is the reason why I asked,
1. do you know why price rise or fall ?,
2. where does the trading edge sit on the chart?

The long trade entry don't have to be accurate anywhere during the h1 pullback will do, the 50pips swing is there on top.
Attached Image(s) (click to enlarge)
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Trade the value
Sold EA instead of EU for larger pips. On the same principle I wrote above. Set the tp at yesterday's adr low(closed it manually).
Buy at support sell at resistance. Yes it's possible to trade intraday swing trades safely for minimum 50pips.

I have nothing more to add about intraday swing trading aside what's written above. Cheers
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Quoting BWilliam
Sold EA instead of EU for larger pips. On the same principle I wrote above. Set the tp at yesterday's adr low(closed it manually). Buy at support sell at resistance. Yes it's possible to trade intraday swing trades safely for minimum 50pips. I have nothing more to add about intraday swing trading aside what's written above. Cheers {image}
As usual, pullback h1 candle.
Bank intent h4 candle.
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Trade the value
GU traded as expected, once price crossed blue support box the banks will take it to the bottom adr. I did not trade GU because I thought EA give more pips. Greedy.
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