Large chart swing trading
Swing trading for larger moves vs. day trading
YES! Nexgen’s software works for longer-term swing trading on any market up to a point. Nexgen's Fibonacci-based software is not designed for daily or weekly charts due to a large number of bars of data required to generate multiple timeframes of Fibonacci support and resistance. Most modern trading platforms will not supply that much historical data.
We suggest before you start longer-term trading with Nexgen, you complete the training for day trading as we teach it. It is imperative that your understanding of the chart patterns and your trading plan is intact before you switch the size of the charts Nexgen provides during the demo. Without this confidence in your plan and analysis, learning Nexgen's method on longer-term charts will take a long time. Nexgen’s rules and analysis for optimal setups work on every timeframe and chart, regardless of the chart size. The only difference between day trading and swing trading is the size of the chart. The “CONFIDENCE” to take and manage the trades only comes from hundreds if not thousands of historical, replay, and real-world repetitions.
Once this “educational understanding “ is complete and your trading plan is solid, you may proficiently trade any market and any time frame chart. Therefore, we teach “day trading” to help you hone precise entries and exits. 2. Most days, there are 5-10 day trades daily possible. Simply day trading may yield an average of 100-300% return on any increment of $5,000 that you would wish to trade (bi-MONTHLY if not weekly). 3. Day traders work 4-5 hours per day and not carry an overnight risk which also requires 3-10 times the margin money required to day trade.
To reiterate, at Nexgen we feel it is best if you learn day trading so you can speed through the learning curve in 30-120 days. Your use of historical chart study and “market replay” to speed up the process of learning will prove invaluable. When you are ready for longer-term trade (swing trade), you may see 1-3 day trades such as cryptocurrency trades, weekly options on SPY or Apple or Netflix markets (swing trades).
If you tried to learn Nexgen's method by swing trading first, you may see only 2-4 trades per week and the learning process would take you 1- 2 years to complete. Our goal is to make you ultra-comfortable so you can trade at a VERY high level quickly. The rest is up to you.
We suggest that clients who wish to swing trade take the time to learn how to day trade first. It is important to achieve confidence and apply the rules to larger charts.
Once you have completed the education for day trading, the looks of the winning trades, the entry areas, and profit objectives for each trade will become “self-evident” regardless of the chart or time-frame you end up trading in “the real world."
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