Answer:

I agree with all answers stated here and would like to add some more. If you are looking for swings, you need the proper tools. I did go through the same process months ago, and this is what worked for me after months of endless hours of work, study and testing. Change your mindset: Patience, self-trust and discipline are the basis to build the new strategies. Then the proper time frame: I use H6 and H12 charts and trade the swings that form on those charts. A swing and the corresponding trend may last for couple of days to weeks. Then support and resistance levels on those charts: very important to define the frame of reference for your trades. Then indicators that help me identify the formation of swings and trends (momentum): so I chose Bollinger Bands (please take your time to adjust the settings according to the pair and TF), and slow stochastics (again, settings are very important, take your time to set it correctly). Then an indicator to keep on the trend direction and not get confused when a swing against the trend happens: 35 SMA line keeps me on tracks. Then, a pair that builds nice swings: I chose GBP/JPY and EUR/JPY on H6 and H12 charts. And finally, a trading strategy: when my triggers come, I open 2 positions at the same time: one to be closed at the next support/resistance level, the other to keep it open until the trend ends (i move my SL and TP accordingly to secure my profits). The use of proper configured Bollinger Bands and Stochastics allow me to hedge myself against wrong entries (too early or too late), so I do not have to keep "so high" SL settings and keep my risk appropriate. Hope my own process from scalping to swing/mid-term trading helps you as well. Cheers!

Author: mindset