Consistent profit is something all traders want and so wonder if it is really true that learning this ten minute swing trading strategy can help you do this?You would think that to make a fortune you would need to put in hours and hours of hard work a week, but there are many stories that disprove this, showing how traders can make a fortune without putting in these hours. Instead of looking to make a profitable trade within a short 24 hr basis, swing traders will look to do so on a weekly basis. This makes it possible to have a daily 10 minute swing trading strategy.
Day trading can take up a lot of time, which is why swing trading can open up so many advantages for among other things, it saves you a lot of time. The swing strategy can really save you time, ensuring that you spend minutes instead of hours at your computer. You have to become many things when trading, one such thing is disciplined.Trading everyday can actually do more harm then good and this is something that new traders must realise.
You can find many trading courses online that all claim to have the best strategy, but a new course is due for release in early November, called Ultimate Swing Trader, may well prove to be the best yet.
For right now, we should take a closer look at the art of swing trading
With this in mind you should start by taking account of the time you spend on trading.Failing to make a consistent profit is more often than not caused by the fact traders are over trading. Too many traders want action constantly and so jump head first again and again into trades without thinking.What happens next can change in a number of ways. Many traders end up losing more and more money when they try to win what they have lost back, which most obviously is not the best way forward. Or worse still they give up all together!
As having self discipline is vital for traders, it is a real bonus that you are taught this.Day trading can mean that you never get to leave your screen whereas swing trading means that you only have to check your charts at certain times. As simple as it sounds, trading at one time of the day is actually fairly hard at first, but you will teach yourself excellent discipline.
For more information on swing trading and a closer look at the new 10 minute strategy please read my Ultimate Swing Trader review.
It is widely known in the currency trading world that the trend is your buddy and any currency trading strategy based around following a trend, like No Loss Robot, is probably going to be both simple and effective.
It is easy to make trend lines on any currency exchange chart, but most folks prefer to use candlestick charts for this because the candlesticks are such a clear visual signal. When trend lines are forming, you may use them as a signal to sell or buy the currency pair.
Step one in using trend lines for a foreign exchange currency} trading technique is to ascertain whether the market is rising, falling or is stable inside certain parameters. Of course there will always be fluctuations, but at certain times you’ll see clear patterns.
1. If the price is going up
If the price is going up, first draw a straight line thru the highest highs on the chart. This line will be sloping upward. Then draw another line thru the lowest lows on the chart. If this line is also going upward and is roughly parallel to the 1st, you have an rising trend.
You can then use these two lines as support and resistance lines. This means that you can assume that while the trend continues, the price will remain in the area between these 2 lines. any time that the price hits the top line you might sell, on the presumption that it will fall back. In a way this strategy means going against the trend, but you would only hold that position for a little while.
or, any time that the price hits the base line you might buy, on the assumption that it will soon rise again. In this case you follow the trend which is frequently a better strategy. However, you should bear in mind that there will at some particular point be a true reversal and you may be caught out by this.
2. If the price is falling
If the price is going down, you can follow a corresponding methodology to the prior system. The lines you draw will be going downward but you would still buy when the price hits the lower line and sell when it hits the upper line.
3. If the price is stable
If the price is actually not going anywhere, then the lines that you draw thru the highest highs and the lowest lows will either be horizontal and parallel to one another, or they’ll be converging ( drawing closer together ) or diverging ( drawing apart ). If they’re horizontal, you could use them as support and resistance lines in the same way. If they’re diverging, it’s not a fun time to trade. Wait for a trend to form.
If the lines are converging, they may indicate a breakout. In this example you should not treat the lines as support and resistance lines but wait for the price to go beyond either of them and continue in that direction. So if the price breaks above the higher line you would buy, expecting it to continue in that way for a bit. Equally, if the price breaks above the lower line, you would sell.
Like all forex systems, these aren’t warranted. There is always a chance of trades going against you, so you should check your signals against other indicators and always use stop losses. Always try the system in a demo account before going live. These steps will help you to develop a successful currency trading plan.
Our fx market signal to buy Eur/Usd Long on Wed 3rd Dec 2008 from www.fx-currency.com using Bollinger Bands and Keltner Channels, for a short and quick 65 pip profit
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Our fx market signal to buy Eur/Usd Long on Wed 3rd Dec 2008 from www.fx-currency.com using Bollinger Bands and Keltner Channels, for a short and quick 65 pip profit
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