February 2013
Beginner
256 pages
5h 56m
English
book
17 Proven Currency Trading Strategies: How to Profit in the Forex Market, + Website
by Mario Singh
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Chapter 8
Strategies for Swing Traders
You are a swing trader primarily because you have a full-time job and don’t have much time to analyze the markets. That is why your trading strategy is considered fairly midterm, with several trading opportunities in a week. Depending on the currency pair, the profit potential per trade for swing traders can range from 50 pips to 150 pips or more. With trades having profits as high as the daily volatility, it is normal for these trades to take more than a day to exit.
Most swing trading strategies use indicators to pinpoint entries. This chapter covers five strategies suitable for all swing traders. The techniques are developed for use on middle time frames, such as the hourly (H1) and the 4-hourly (H4) charts.
Due to the strategies’ time frame, swing traders are presented with trading opportunities that most likely last more than a day but exit within a week.
STRATEGY 7: TREND RIDER
Two of the most popular quotes in the forex market are the sentences “The trend is your friend until it bends” and “Always trade along the trend.” Each is good advice.
One of the main reasons why many retail traders fail to make consistent income is because they exit too early. How often have we had that experience when we jump into a trade, watch in delight as it goes our way, take a 30 pip profit with a smug grin, and then watch in horror as the trade goes another 500 pips in our direction?
The strategy discussed here will help traders of all levels, because ...
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O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.