A profitable swing trade system or strategy?
I’ve got a full-time job but I’m interested in trying out swing trading on the forex markets (just stick to the major pairs right row)… any recommendations on a relatively easy to learn and inexpensive swing trade system? I’ve got MT4 but I’d be willing to switch to a different platform if necessary. Thanks in advance.
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Tagged with: forex markets • Forex Questions • full time job • job • necessary thanks • row • swing • swing trade • swing trading • trading
Filed under: Forex Courses
Don’t knock it, it’s a fine addition to a strategy (not a strategy in itself mind).
To work out the strongest/weakest, you can calculate it yourself by triangulating the currencies, or easier still, google currency heatmaps. The strongest is the currency appreciating the most against the others, the weakest is the one depreciating the most.
If you’re trading intraday, you can buy/sell into the moves. If you’re swing trading, you’re better to fade it (excess doesn’t last for that long). So, if GBP is the strongest, JPY is the weakest, on a short timescale, look for breakouts in price and buy into them (buy GBPJPY)
If you’re swing trading, you could trade S/R reversals (see Tess’s templates for eg) once the move is beginning to lose momentum, and sell GBPJPY.
Hope this helps
Bought forex ambush ( http://flipto.com/4x ) just out of curiosity- they send you a few trade signals daily sent to you by email or sms that are supposed to be 100% accurate and profitable, then you go open the trade. They are all set up to be self closing, meaning you don’t have to go close the trade later, when you open the trade you set stops and limits to close it profitably. Honestly, I haven’t had a chance to try it yet, but will try with a practice account first.
MT4 Expert Advisor Comparison:
http://CompareExpertAdvisors.blogspot.com