Hi All,
this is my first post so I would like to say that this is a wondeful website and I have learnt a lot; I think this website will help me to achieve trading consistency. Thanks Edward!
I don't have the time to day trade so I plan to swing trade or use the 4h chart. Questions:
1. Do you recommend applying one strategy to several markets or several strategies to one market. I presume it is several strategies to one market since this will allow you to get a feel for the market.
2. Can you get a feel for the market swing trading or is this only possible scalping.
3. With regard money management, I plan to risk 2% max on a single trade, but if I am swing trading I anticipate that I may have multiple positions at any one time. I read in a book that you should only risk 9% of capital at any one time on all trades - is this correct or should I reduce this to say 4%. Note: obviously this will have a lot to do with the markets that I am trading so can anyone suggest maybe 3 or 4 markets that have a low correlation
Thanks very much,
Scott