Technical analysis can be a highly subjective endeavor, which is compounded by every additional indicator or methodology that you choose to add to your stock or commodity chart. Midas Technical Analysis can be ‘over-complicated’ by the well meaning chartist, however, when launched from appropriate pivots the midas curves can really deliver a terrific trading experience when trading stocks, futures contracts or foreign currency FX instruments.
Below is an example of intraday trading utilizing proprietary midas launch points. Having reliable S/R points, known in advance, gives an obvious edge to any astute trader.
You will find varied views though. Some choose to trade stocks or futures for a longer period like a week rather than to use the terminal and watch ticks all day. Others believe that by watching the screen and executing quick trades, you increase your chances of producing very good profits regularly.
The choice is dependent upon the time you would like to devote to such trading. Both need you to check your positions regularly, though it must be said that daytrading involves and demands a lot more of the attention.
Swing trading on the other hand can be defined as an option between day trading as well as short term trading. It is when traders hold on to their positions for about 2 to 3 weeks and continue to reap some benefits of the price fluctuations occurring in that period.
You can do well at swing trading if you can grab the right opportunities. These are generally often large cap stocks which are actively traded and you may get price movements taking place such that you are able to consider positions accordingly. This would let you make the most of price moves on either side as you would be holding positions for several days. Swing trading appears to favor carrying any one position at a time – you can be either long or short in a bear market and because you have time working for you, you can capture extended moves over several weeks before changing positions.
The swing trader thus benefits from capturing longer term trends which can last days to weeks instead of very quick fluctuations in price. That is good for the nimble day trader who is in a position to seize instant opportunities regardless of having to pay brokerage firms on every trade that he or she executes.