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Well, I am not trying to scalp intentionally. What exactly is considered swing trading? I am trying to improve my fundamental analysis. Alright, it is past mid night here. Time to try to catch some ZZZzzzzz instead of pips.Ignored
Generally I see swing trading as going for large moves. Trading off a 4H or daily timeframe is pretty common but sometimes 1H can suffice. Entries aren't going to be perfect so you're generally going to take some heat. As a new swing trader it may be wise to split your total position into three entires that encompass a range you're willing to get long or short in.
The beauty of swing trading is being able to add to your winners. As a scalper you're in and out of the market and at the mercy of the market to give you another entry. As a swing trader you have one large target in mind and once your trade confirms your bias you can use mini corrections to add to your overall position and continue seeking your long-term target. Jumping completely out of your swing trade in anticipation of a correction may seem intelligent, but often times the correction you expect never comes and you miss out and many pips.
It's also wise to continue moving a stop loss in order to lock in profits as your swing trade continues to show you positive results. But be sure to leave it some breathing room. Remember, the bigger your target... the more wiggle room you need to give your trade.
Hope that helps.
EDIT: Take note that there are different styles of swing trading just as there are scalping. The one described above is my style. You'll see Scrat has a different one where he likes to wait for a confirmation of a trade before taking it. The best was I can describe this "confirmation" is you see the trade break the way you expect significantly and then you wait for a correction to jump in on and ride the trend. That method can keep you from taking as much "heat", but could potentially cause you to miss out on some profits and/or some trades altogether. There are advantages and disadvantages to each and you'll have to decide which fits better with your personality.
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