Reading The Intraday Swing
The intraday market weaves back and forth like a drunken sailor. This oscillation baffles most traders, forcing them to take positions at less advantageous prices.
As a day trader your primary concern is to catch intraday swings. Your trades start and finish the same day. Your world is the day you are trading in. You don’t care what will happen in the market tomorrow or the day after tomorrow.
Take Profit and Stop Loss.
intraday swings usually need a 75pip SL at least, and 2% MM. but we will discuss later how to reduce risk and use tighter SLs in my top/bottom picking strategy.
By paying attention to only the close, intraday swings can be ignored. Line charts are also used when open, high and low data points are not available.
Such rules would be poorly suited to the trading of agricultural commodities, but have proven useful in trading intraday swings of the equity indexes. Other rules, such as those in the mrswing.
 See also: Intraday, Point, Swings, Trader, Swing
  
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