Currency Swing Trading For Success ~ Forex Auto Trading, Article of Forex Trading, Forex Signal and Forex Broker

Forex Auto Trading, Article of Forex Trading, Forex Signal and Forex Broker

Forex Auto Trading, Article of Forex Trading, Forex Signal and Forex Broker

Currency Swing Trading For Success

Written by OnlineLoan on 08:09

Currency Swing Trading For Success

By: Kelly Price

If you are new to forex trading the best way to get started is swing trading - its simple to learn requires very little discipline and can soon be making you huge profits. Let's look at currency swing trading in more detail.

The Objective

Is to capture moves which will typically last between a couple of days and around a week and will trade short term moves within support and resistance levels - normally from overbought or oversold levels.

Why It Does Not Require Much Discipline

Most traders fail because of lack of discipline. They can't run big profits and trend follow because it takes tremendous patience to wait for the right opportunities and great willpower to hold long term trends if open equity dips.

In forex swing trading, you get a lot of trades and you know if you are right or wrong quickly, it therefore is ideal for novice traders.

Building a Swing Trading System in 2 Simple Steps

If you are learning currency trading and a trading system regardless of time period you need to incorporate two facets into it

1. Support and resistance

You need to look and find areas of support and resistance where prices are likely to hold or break and then move to market timing to confirm the move on your forex chart.

2. Confirmation

If you simply try and swing trade into a level of support and resistance without some indication it will hold you are effectively hoping or guessing and you will lose.

Traders who predict on forex charts lose - it's as simple as that.

You need to act on confirmation and here you need to incorporate momentum oscillators into your forex technical analysis - if you don't know what they are, its time to learn. Good ones to start with are the stochastic, RSI, ADX and MACD. These are plotted on most good forex chart services and are visual ( you don't need to know the calculation) and you will soon be spotting the correct set ups.

They will allow you to check changes in price momentum and indicate whether support or resistance will hold or break. We have discussed these fully in our other articles so look them up.

Once you have confirmation you can execute your trading signal

A few other points you need to keep in mind when currency swing trading are:

Always take your profit early - before the next support or resistance level is hit as prices can soon turn around and wipe out your open profit.

Also you can trade breakouts - this is where levels of support or resistance break and prices go to new lows or highs. It's a fact that breakout trades offer some of the best risk to reward trades you are going to get and if you catch them you can enjoy currency trading success.

With stops place it straightaway as you enter the market and don't exit on a stop exit on a profit taking signal.

You can learn to swing trade and put together a robust simple swing trading system in a few weeks and soon be making some great FX profits.

Currency swing trading as we have said is - simple and easy to learn and can be very profitable, so try it and you will soon be getting some great trades and great profits.


visit our website at: For free 2 x trading Pdf's with 90 of pages of essential info and more on Currency Swing Trading

Article Source:

Related Posts by Categories

Widget by Hoctro | Jack Book
  1. 0 ความคิดเห็น: Responses to “ Currency Swing Trading For Success ”