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Thread: Swing trading on currency market

  1. #1
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    Swing trading on currency market

    Hi, traders!

    In this thread I’ve decided to put together information and some slides from the webinar I’ve made today – «Swing trading Forex»

    What is swing trading? How «swing trading» differs from «momentum trading»? Actually, there are many approaches to swing trading, but I will express my point of view on the subject.

    Swing trading is trading on intervals more than 1-3 days, some traders may call it «long term» or «medium term», but in fact, good swing trade can last no more than 4-5 days. Swing trades are usually level-based trades. For example, if you trade momentum, you can capture short-term overbought or oversold condition of the market (imbalance) and trade-off scenario of inventory correction.

    If you trade momentum, your trade will look like that:

    Attachment 1998

    You see, that typically you will buy high to sell higher. But in this case you act like a sniper, wait for perfect timing for your entry, then aggressively go with the market, capture profit and exit.
    Things are different with swing trading. For momentum trader it’s natural to exit pretty quickly (duration 3-4 hours for intraday trade) because his price is not relatively very good – momentum trader is unable to survive pullbacks, rotations and other activity of the market, before it reaches the target. That’s why momentum trader will tend to quickly reduce his risks, minimize stop losses or set them to breakeven.

    Swing trader expects to get good price while his timing may not be ideal. If you expect to get good price, market can revisit your entry several times, rotate above your entry (if you go long), go sideways, and only after 2-3 days of sideways action price can break out from a range in the direction of your position (or may not break out)

    Typical swing trade looks like that:

    Attachment 1999

    So, I’ve structurized difference between momentum and swing trades:

    Attachment 2000

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  2. #1001
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    Quote Originally Posted by forexfighter007 View Post
    Yes recognizing our mistakes is very important in here because mistakes gives losses and repeating mistakes is resposible for the failure of traders. Greed is very dangerous matter mistakes and due to greed traders often land themselves into financial troubles. Greed is due to over expectation and not having expectations that are feasible.
    Those who dont make efforts to correct mistakes cannot make a good career with Forex. It is not easy to find out a good opportunity in present economic condition of the world but forex has made this and we should be hardworking here, without determination success is impossible whether it would be forex or any other business.

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  3. #1002
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    Quote Originally Posted by Deepika View Post
    Those who dont make efforts to correct mistakes cannot make a good career with Forex. It is not easy to find out a good opportunity in present economic condition of the world but forex has made this and we should be hardworking here, without determination success is impossible whether it would be forex or any other business.
    Correcting mistakes shows us the correct direction to perform better next time. This is crucial if we dont want to end up the career losing it all. For finding success from forex it is essential to take forex as a professional work. But it is not an easy work. We need to do lot of hard work & gather a lot of experience.because experience helps us to correct our most serious mistakes.

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  4. #1003
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    Yes losing is not bad at all if we are learning from it, but if we are regularly ignoring it then it can become a dangerous thing for our forex trading career and life. A lot of hard work is required in any sort of business hard work is the main element of our success. There is no successful trader who earn success from the birth here, everyone have to start from a newbie and have to end up with a professional forex trader in this field.

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  5. #1004
    Trader layigold's Avatar
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    For the first five yeras of my forex trading career , I was using 1H and 15m time frames to trade as a day trader but I face a lot of challenges in trading which caused me to lose so many accounts . It was when I read about swing and long term trading that I understood the power and effectiveness of higher time frames in trading. The truth is that you cannot see forex as something to make money in a short term and come out a successful trader

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  6. #1005
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    Quote Originally Posted by Irungu View Post
    Swing trading is the right idea to work for the effort to pull of every choice we are there is a right time to trade forex, the best of swings is all effort is all that we really understand that we know effort that we are aways having some effort choice we think of there is a chance that we have ti put together a good technical team of indicator and for that there is every effort to put in the right team that will bring the best in the market chances are that we have to beieve in every one of them
    But i think to do a longterm strategy as swing trading style should also have a big capital and start trading with small lots that will able to hold the position of floating loss, if the trading capital that is used is low then this is not ideal in a trading style of swing and extremely risky if trading with no stoploss cause the market forex can move hundreds of pips daily

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  7. #1006
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    We have got forex trading already, that way we can trade on it the way we want to, the way I see the business it is a good business which one has to be patient with and that way making use of the swing trading method is the way to trade with patient and also will enable the trader make sure that he trades with the longer time frame like the daily time frame.

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  8. #1007
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    Quote Originally Posted by sharegistFX View Post
    We have got forex trading already, that way we can trade on it the way we want to, the way I see the business it is a good business which one has to be patient with and that way making use of the swing trading method is the way to trade with patient and also will enable the trader make sure that he trades with the longer time frame like the daily time frame.
    Forex trading is a very helpful business for us because now days its not very easy to earn money in life because their are no more jobs in so many countries and most of new guys are unemployed in their life, they are searching work but they are not getting but forex trading is a place from where they can make their future bright, I have seen so many of my graduate friends who are working as a full time trader in forex and they are earning good from here.

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  9. #1008
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    [lang=id]
    Quote Originally Posted by Dheeraj890 View Post
    Forex trading is a very helpful business for us because now days its not very easy to earn money in life because their are no more jobs in so many countries and most of new guys are unemployed in their life, they are searching work but they are not getting but forex trading is a place from where they can make their future bright, I have seen so many of my graduate friends who are working as a full time trader in forex and they are earning good from here.
    I think so as well. Forex trading certainly is a very good business and we will be able to make a lot of money in here with this business too. Not all trader will be able to get all the jobs needed in here and sometimes they have no choice but to focus in doing business. Certainly doing this business would be the best possible thing for us too because this business got great prospect.[/lang]

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  10. #1009
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    Quote Originally Posted by Vicko View Post
    [lang=id]
    I think so as well. Forex trading certainly is a very good business and we will be able to make a lot of money in here with this business too. Not all trader will be able to get all the jobs needed in here and sometimes they have no choice but to focus in doing business. Certainly doing this business would be the best possible thing for us too because this business got great prospect.[/lang]
    When we take Forex as our main business for earning then we should recognize its pros and cons and willing to work the needful. Forex has lot of challenges and it is often tricky but when trader is equipped with good skills then he will not face losses but earn good profits in Forex. Forex trading is a business of skills and this makes it an interesting business also.

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  11. #1010
    Trader layigold's Avatar
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    Swing trading is what you can do with the peace of mind without having to stay glued to the chart as it is the case in day trading or scalp trading. You have a long term in mind and once your trades are taken , you have no business watching that trades any more.You can be on a trade for one week or more and you are not afraid because your risks are properly managed in the first instance

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