Re: Daily Timeframe SwingTrading Template

Hey all,

Appreciate your patience.
As time allows, I will explain briefly (or in detail) in a few posts how I trade.

First and foremost, appreciate the fact that what works for me, or any other trader for that matter, will not necessarily work for you. Even though we are all human beings, there is a difference, and the main difference in trading is emotions.

So, with that being said;
Trading for me is a hobby or a means of passive income, as I have a fulltime job. Therefor, my risk appetite is not the same as every other trader. I am a longer term trader and stay in trades for days, weeks, and at times months. At times my a trade could be in the red for days, to the tune of a couple of hundred pips, BUT how you manage that trade to make money, an indicator does not tell you. I hedge my bad bets (thus picking up the loss). Eventually price will be kind to me.

If the trade is going where the prediction is, I add to my position (piggyback). I start of with a .02 position, and add a .03 position with every break of the previous day high or low.

Always bear in mind you could wait days for a decent entry, therefor lagging indicators are a few hundred pips too late. The eyedicator works best in that situation. Identify, predict, decide and execute. No fannying about.

Some traders watch 28 pairs (with arrows and all the bells and whistles) on 5min charts. They are super human ...... I am not. The most volatile pairs XAUUSD, XAUAUD, GBPNZD, GBPJPY and occasionally the the ugly one USDZAR, provide me with sufficient trades. You get to know them, you understand them, they become part of you, and you can predict what they are going to do. As I said, I piggyback winning trades. Why must I analyze another pair, if I already know where my current trade is headed? Does that make sense?

I look at the weekly and monthly charts on a Monday, thereafter only focus on the daily timeframe. Looking at lower timeframes is too much information (remember I trade longer term) . My brain freezes, my eyes get dizzy and my hair does the macarena.

All for now, next I'll follow up with some screenshots.

Take care and stay safe.


Re: Daily Timeframe SwingTrading Template

Hey Pumba,

Attached is a trade in incubation stage.
I will not cherrypick screenshots, but show you the good, the bad and the downright ugly trades, and how to still maintain a positive account.
I bought GoldAus a few days ago, the VC and MACD are in negative territory, but, early days yet, we shall soon see. Long or short, it does not matter.



Re: Daily Timeframe SwingTrading Template

PumbaPLS wrote: Fri Oct 08, 2021 8:38 am Sorry but both signals there dont redraw. the Arrows are the BH crossings, I just hide the 2MA´s crossing.
the Absolute Strength Histogram also doesnt repaint.

Please try those indicators out before saying things.

Also both were coded/improved my Mr. Tools and can be found in the "daily download thread".
I highly doubt they would be repainting ;)

Also if those would repaint, those signals would be damn awful
I wrote about this indicator that you posted

Re: Daily Timeframe SwingTrading Template

Narutopips wrote: Sat Oct 09, 2021 9:44 am i just found this indicator and it looks good on the Daily Chart, don't know if it would be of Help here. just my contribution as we learn from each other. Thanks Guys
Thanks for contributing, I make sure to check it out!
You cannot solve a problem from the same consciousness that created it. You must learn to see the world anew

Re: Daily Timeframe SwingTrading Template

Kathy McGarry wrote: Fri Oct 08, 2021 1:45 pm Hey Pumba,

Please peruse attached. Have added #4c Trend Suite (Black) button (DRAGON).
thanks for the share and your charts as always. Great elaborate explainations, very grateful for the time you have invested.

I see that you are trading just with the help of indicators and not solely as a system on its own.

Great Approach!

Your MACD indicator seems to be a different one than you shared!

my macd with your settings give me much different signals. Would you check that once you have time?
You cannot solve a problem from the same consciousness that created it. You must learn to see the world anew

Re: Daily Timeframe SwingTrading Template

jng640 wrote: Fri Oct 08, 2021 6:32 pm Here's another confirmation indicator, similar the "indicator02" but slightly different. :)
Another great indicator with similar signals as the one you have previously shared, but a few more signals added to it which get mostly filtered out anyway.

so I am going stick with the one you have posted first!
You cannot solve a problem from the same consciousness that created it. You must learn to see the world anew

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