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Moving from intraday trading to weekly trading

  • Post #1
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  • First Post: Dec 24, 2017 5:46pm Dec 24, 2017 5:46pm
Hello fellow traders, recently I`ve decided to move from intraday trading (m15 and holding trades no more than the current day), to weekly trading h4 (holding the trade no more than a week).

i`ve already stumbled into SWAP`s and now learning about them more. Any more things I will need to know with this new approach ?
The truth is hidden from you
Quoting MaxenshteinD
Hello fellow traders, recently I`ve decided to move from intraday trading (m15 and holding trades no more than the current day), to weekly trading h4 (holding the trade no more than a week). i`ve already stumbled into SWAP`s and now learning about them more. Any more things I will need to know with this new approach ?
If you were trading well at M15, you will trade even better at H4, the challenge will be waiting for the completion of your signals and sitting through pullbacks.
If you are good at something, never do it for free--Joker
Quoting MaxenshteinD
Hello fellow traders, recently I`ve decided to move from intraday trading (m15 and holding trades no more than the current day), to weekly trading h4 (holding the trade no more than a week). i`ve already stumbled into SWAP`s and now learning about them more. Any more things I will need to know with this new approach ?
Nice move! By the way, long-term trading is always challenging, since you have to ensure first about the strength of the market trend! I would suggest you to observe your demo result for couple of months with your strategy and if you are happy on your trading result, then go for the live trading! Besides, for long-term trading you need to use wider SL’s in your trading! So, don’t try to use tight SL here. All the best.
Quoting MaxenshteinD
Hello fellow traders, recently I`ve decided to move from intraday trading (m15 and holding trades no more than the current day), to weekly trading h4 (holding the trade no more than a week). i`ve already stumbled into SWAP`s and now learning about them more. Any more things I will need to know with this new approach ?
Medium-term trading is characterized by the fact that a trader must show patience and endurance and confidence in his strategy.
In addition to the fact that you need to adjust your strategy for a new duration, I would advise you to pay special attention to trends in macroeconomics.
Also, use the daily chart to determine the main trend and assess the overall market situation.
Dont hurry in three situations: marriage, sex, trade.
no difference between M15-H4...just delaying profit/loss.my opinion.
NO MATTER THE SITUATION,NEVER LET YOUR EMOTIONS OVERPOWER YOUR INTELLIGENCE
Trading less, together with trading with a longer trading outlook, helps you to do proper market analysis. Just learn to do a thorough pre-market analysis before you enter a trade.


Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
One of the things you'd have to develop (if you haven't already) is patience. You need to learn how to be patient, how to wait, how to deal with the spikes caused by various news events throughout the week - something which you may not have had to deal with it when you traded on the M15 time frame.
Thanks for your replies )
Do swaps affect your profits allot ?
The truth is hidden from you
It can, choose you broker based on spread+commission + swap*(average holding time in trading days +2 if triple swap included). A good broker in terms of swaps are the ones where the absolute value of long/short swap for currencys is nearly the same (cfd's are different, they have mostly negative swap on both sides).

As an example i use one Broker with extreme low commission costs and good spreads, but their swaps are terrible like the long swap is lets say -10 points and short it's only +2 points. A good broker might have -6 long and +5 short for the same Symbol.

Thinking and calculating about this before might save you some $ for sure.
  • Post #10
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  • Last Post: Dec 28, 2017 12:52am Dec 28, 2017 12:52am
Quoting MaxenshteinD
Hello fellow traders, recently I`ve decided to move from intraday trading (m15 and holding trades no more than the current day), to weekly trading h4 (holding the trade no more than a week). i`ve already stumbled into SWAP`s and now learning about them more. Any more things I will need to know with this new approach ?
Trading is all about your comfort. If you are doing great with intra day, you can continue with that. For weely trading I think you can do some demo trading with your strategy. M15 strategy and D1 strategy are not same. You have to be compatible with it. After then you can switch.
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