Swing Trading Plan » Success http://www.swingtradingplan.com Mon, 28 Mar 2011 13:41:08 +0000 en hourly 1 http://wordpress.org/?v=3.0.1 Swing Trading for Beginners ? 4 Rules for Success http://www.swingtradingplan.com/swing-trading-for-beginners-4-rules-for-success/ http://www.swingtradingplan.com/swing-trading-for-beginners-4-rules-for-success/#comments Thu, 16 Dec 2010 17:42:21 +0000 James Johnson http://www.swingtradingplan.com/swing-trading-for-beginners-4-rules-for-success/ Swing Trading
by petit hiboux

Swing trading for beginners is a gear way to make money for novice traders and is easy to understand and learn and if you follow the 4 Rules here you will be well on your way to swing trading success.

Swing trading is a method of trading that relies on catching reactions within major trends either up or down and generally a swing trade will last between 2 – 5 days. Some forex traders try and swing trade within daily time frames but this is a recipe for disaster it doesn’t work so don’t even try it.

Here are your 4 rules to follow for success in swing trading

Rule 1

Use Support and Resistance

When you swing trade in forex you will need to spot areas of support and resistance on the daily forex chart. Ideally ones that have seen prices spike on high volatility are good as these tend not to last so use the Bollinger band as well as trend lines.

Generally the more tests of resistance there are the more valid it is so 3 x tests or more and two different time frames is ideal.

When swing trading in forex DON’T make this common mistake:

Many traders simply wait for the price to get close to the level there looking at and simply enter a trading signal and hope the level holds – This will lead to a swift wipe out don’t hope or predict your guessing and the markets will not reward you, they will take your equity.

You need to get the odds on your side and for this you need to watch price momentum.

Rule 2

Watch Momentum

For example, when prices approach a level wait for price momentum to turn back as measured by momentum oscillators. If you are swing trading in forex or any other financial instrument this confirms your trading signal.

We don’t have enough room to cover the individual indicators here but you should start with the stochastic and Relative Strength Index (RSI) and these are covered in our other articles.

Now you’re in the trade the next rule involves the import but making some profits!

Rule 3

Set a Target

When you enter a swing trade profits and losses ten to come quickly. The stop is easy to place and obvious – behind the support or resistance you are looking at.

If you can use a stop close basis.

Set a target just before where you think the price is going to go and take it early.

Keep in mind you can hang on but the odds of success will decrease as you get to the target level so better to tuck it in early in case of a reaction. Although some trades will run on the odds will be in your favour more by banking early.

So there you have it a simple swing trading system that is ideal for swing trading for beginners and will work for any trader.

You may say that’s too simple – but the best systems are and it’s a fact that simple systems beat complicated ones, as there are less elements to break.

Rule 4

Shop Spreads

You should only trade volatile, liquid currencies when swing trading.

In the majors you should be able to get some tight spreads of just a couple of pips.

All brokers are not equal when it comes to spreads, choose wisely, as transaction costs mount up and you need to get the tightest spreads you can.

Swing trading for beginners is an ideal form of trading. It’s simple to learn and can be a great addition to your forex trading strategy and make solid long term gains if done correctly and help you enjoy currency trading success.

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For free 2 x trading Pdf’s and more on swing trading for beginners visit our website at:
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]]> http://www.swingtradingplan.com/swing-trading-for-beginners-4-rules-for-success/feed/ 0 Trading Success With Candlestick Technical Analysis http://www.swingtradingplan.com/trading-success-with-candlestick-technical-analysis/ http://www.swingtradingplan.com/trading-success-with-candlestick-technical-analysis/#comments Sun, 14 Mar 2010 01:23:04 +0000 James Johnson {As you know, I am incessantly on the lookout for excellent articles on Swing Trading, recognising that good information is required to learn how to swing trade.|As you are probably aware, I am constantly on the lookout for excellent information on Swing Trading, realizing that good information is required to learn how to swing trade.} {Now, I discovered a very good article that explains Swing Trading in simple language.|Recently, I ran across a really good piece of content that explains Swing Trading in easy to understand language.}{ Make sure you look over this article and let me know your opinion.|Make sure you look into this and let me know your thoughts on it.} {Today’s post is titled and you should find the entire article provided below for your convenience:|Todays piece of content is titled title and you could find the complete piece of content written below for your convenience:}

Feb 22, 2009 copyright © David S.Y. Wong, published in ArticlesBase.com

There are many candlestick patterns in the entire spectrum of the Japanese candlesticks literature in print and on the Internet. It is an enormous task to learn to recognize the candlestick patterns and to interpret the candlestick signals to translate into trading decisions. It is a time-consuming task, or a distraction in the very least, to determine candlestick patterns and to interpret the candlestick signals in order to decide on what to trade and when.

You should research the different types of candlestick patterns and how candlestick technical analysis works in identifying trends and trend reversals. However, you should not spend time deciphering stock charts looking for candlestick patterns and determining if they constitute a valid signal. I submit that your time is better spent on other trading activities such as keeping track of company news and events, and monitoring the pulse of not only the company (and stock) but also the industry that the company is in.

You need to find software for your computer or available through web sites to provide candlestick charting along with candlestick technical analysis where the candlestick signals (patterns) are shown to you. Then you, as the stock trader (not the candlestick technical analyst), can use the software provided information to make your successful trading decisions.

Examine the historical trading performance using the candlestick technical analysis software on your stocks of choice. This will give you confidence that there is credence in the method and that the system works. Begin with paper trading a basket of stocks and monitor your trading performance as you experience and refine your use of candlestick technical analysis. When ready, proceed to real-world trading with your new-found tool. Do not forget or abandon your other trading tools and resources as candlestick technical analysis is a complement to (not a replacement of) your trading tool box and your trading wisdom.

StockTradersPlace (http://stocktradersplace.com) provides a trend following system based on candlestick technical analysis. http://stocktradersplace.blogspot.com provides a “Stock Trading with StockTradersPlace” companion guide. Empower yourself and show that you can repeatedly execute winning trades using StockTradersPlace as an element of your trading tool box.

Feb 22, 2009 copyright © David S.Y. Wong, published in ArticlesBase.com


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]]> http://www.swingtradingplan.com/trading-success-with-candlestick-technical-analysis/feed/ 0 Audiocasette tape of live trading seminar “Proven Chart Patterns”: Key Indicators for Success by Chris Manning http://www.swingtradingplan.com/audiocasette-tape-of-live-trading-seminar-proven-chart-patterns-key-indicators-for-success-by-chris-manning/ http://www.swingtradingplan.com/audiocasette-tape-of-live-trading-seminar-proven-chart-patterns-key-indicators-for-success-by-chris-manning/#comments Fri, 12 Mar 2010 13:02:25 +0000 James Johnson http://www.swingtradingplan.com/audiocasette-tape-of-live-trading-seminar-proven-chart-patterns-key-indicators-for-success-by-chris-manning/

Product Description
In this audio tape from live seminar, master trader Chris Manning presents proven, reliable chart patterns that pinpoint buy/sell signals for short and longer-term investors – plus precise indicators for developing each pattern. Manning’s clear, comprehensive style is easy enough, even for those new to technical analysis. With a focus on using chart patterns to profit from today’s markets – and seizing market turns before the ‘crowd’ does. Master trader Chris Mannin… More >>

Audiocasette tape of live trading seminar “Proven Chart Patterns”: Key Indicators for Success by Chris Manning

]]> http://www.swingtradingplan.com/audiocasette-tape-of-live-trading-seminar-proven-chart-patterns-key-indicators-for-success-by-chris-manning/feed/ 0 Forex Day Trading Strategies for Success! http://www.swingtradingplan.com/forex-day-trading-strategies-for-success/ http://www.swingtradingplan.com/forex-day-trading-strategies-for-success/#comments Tue, 09 Mar 2010 22:31:07 +0000 James Johnson {As you know, I am incessantly on the lookout for excellent articles on Swing Trading, recognising that good information is required to learn how to swing trade.|As you are probably aware, I am constantly on the lookout for excellent information on Swing Trading, realizing that good information is required to learn how to swing trade.} {Now, I discovered a very good article that explains Swing Trading in simple language.|Recently, I ran across a really good piece of content that explains Swing Trading in easy to understand language.}{ Make sure you look over this article and let me know your opinion.|Make sure you look into this and let me know your thoughts on it.} {Today’s post is titled and you should find the entire article provided below for your convenience:|Todays piece of content is titled title and you could find the complete piece of content written below for your convenience:}

Most Forex systems used by new traders are short term day trading strategies which aim to take small risk and pile up a huge regular income and here we will look at how to succeed…The challenge a day trader has is the following: Millions of people (All with different Views, skills etc) + Who Don’t think Logically = so what Forex Day Trading Strategy can Predict what will happen in minutes or hours? The answer is: None of them!Its simply the dumbest way to trade, you cannot predict what a huge mass of people with different opinions and skills, are going to do in hours or minutes its impossible and here is the proof: Fact: All volatility in short term time frames is random and you cannot get the odds on your side, you can’t win long term!Fact: Forex day trading strategies sold have never made real gains. They simply have back tested track records and it’s easy to win when you know what the price was. It’s a good story, making a regular income with small risk, just like Harry Potter is a good story but make sure you don’t believe it, or you will lose. Want to win at Forex trading? You can but you must get the odds on your side and that means Forex swing trading or long term trend following, you can trade the odds here and that means – big profits if you have a robust forex trading strategy. Do not make the mistake of day trading or forex scalping, get the right Forex education and trade long term and you can soon be enjoying currency trading success.


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]]> http://www.swingtradingplan.com/forex-day-trading-strategies-for-success/feed/ 0 Forex Day Trading Secrets for Success http://www.swingtradingplan.com/forex-day-trading-secrets-for-success/ http://www.swingtradingplan.com/forex-day-trading-secrets-for-success/#comments Mon, 08 Mar 2010 04:30:26 +0000 James Johnson {As you know, I am incessantly on the lookout for excellent articles on Swing Trading, recognising that good information is required to learn how to swing trade.|As you are probably aware, I am constantly on the lookout for excellent information on Swing Trading, realizing that good information is required to learn how to swing trade.} {Now, I discovered a very good article that explains Swing Trading in simple language.|Recently, I ran across a really good piece of content that explains Swing Trading in easy to understand language.}{ Make sure you look over this article and let me know your opinion.|Make sure you look into this and let me know your thoughts on it.} {Today’s post is titled and you should find the entire article provided below for your convenience:|Todays piece of content is titled title and you could find the complete piece of content written below for your convenience:}

Forex day trading secrets for success are all over the internet as vendors sell systems but when buying them you need to be aware of this secret which will save you a lot of money and put you on the road to forex trading success… Day trading simply doesn’t work and you should try another short term method of trading that does. So Why doesn’t day trading work?Simple – it’s a proven fact that in today’s world of instant communications, all short term volatility is of a random nature therefore, you can’t use support and resistance in these short time frames as there not relevant, so the odds are against you and you will lose. In days gone by, the floor trader had an advantage has he had the information first but with the rise of online trading this no longer applies. The Proof!Take any of the day trading systems online that claims to make profits, then, look at the small print on the track record and you will see the following words: “Back test”, “simulated” and “hypothetical” and this means in simple English – made up, with all the closing data known in advance and of course that’s easy. The vendors who sell these systems want you to trust a made up track record – but don’t trade it themselves! Doesn’t inspire confidence does it? Short Term Strategies for Profit If you want to trade short term try swing trading. This method takes advantage of overbought and oversold scenarios which last a few days to a week or so. In these periods you can get the odds on your side and you win because support and resistance is valid. So if you want to win the secret of Forex day trading the vendors of systems don’t tell you is – it doesn’t work and focus on Forex swing trading, a short term strategy where you can get the odds on your side and can enjoy forex trading success. Swing trading, is easy to understand and learn and you could soon be making big profits, in around 30 minutes a day or less.


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]]> http://www.swingtradingplan.com/forex-day-trading-secrets-for-success/feed/ 0 Forex Swing Trading Success – A Simple Plan For Regular Triple Digit Gains http://www.swingtradingplan.com/forex-swing-trading-success-a-simple-plan-for-regular-triple-digit-gains/ http://www.swingtradingplan.com/forex-swing-trading-success-a-simple-plan-for-regular-triple-digit-gains/#comments Sun, 24 Jan 2010 07:26:29 +0000 James Johnson http://www.swingtradingplan.com/forex-swing-trading-success-a-simple-plan-for-regular-triple-digit-gains/ {You might be aware that, I am constantly on the lookout for excellent articles on Swing Trading, realizing that complete information is required to learn how to swing trade. |One of the things I like to do for my readers is provide the best content on Swing Trading, Day Trading and the techniques involved.|In order to be a good swing trader its critical that you understand how the markets move, I am always searching for good articles to post on my site.|Over the years I\’ve learned that to be successful at swing trading you need to have a good understanding of what the market is doing and how to take advantage of it, my goal is to provide you with the most current information.} {Now, I happened upon a really good article that discusses Swing Trading in easy to understand language.|Today I ran across this very interesting piece and thought I would pass it along to you.|While surfing the net I found this on trading that I thought would be good to pass along.|One thing about the internet, there is plenty of good information on trading out there, here is somthing that should help you.} {Make sure you look into this and inform me about what you think.|Take a look and let me know how you liked it, the feedback helps me provide you what you are looking for.|Do not skip this one…be sure to let me know what you thought about it.|Be sure you check this one out, I\\\’ll get something out of it to make your trading more profitable. } {This article will help learn trading techniques and strategies that will put you on the path to success.|This is an introduction into trading that should help improve you trading techniques and strategies.|I firmly belief that to trade successfully, you have to have a plan to be successful, this piece should get you started.|What I seek to do now is to provide the best education to all my readers, I hope this helps you improve your trading.}

If you want to make triple digit gains in around 30 minutes a day, with an exciting and easy to understand method, then swing trading is for you. Here we will look at how and why swing trading works and a simple way of swing trading which can make you a lot of money. Before we look at how to achieve Forex swing trading success, lets look at the logic it’s based on which is this: Humans will always push prices to far up or to far down, as the emotions of greed and fear come into play. Prices after spiking to overbought or oversold levels then, return to more realistic levels and you can see this on any Forex chart. Lets take an example of a swing trade in an uptrend to show you how to swing trade successfully. Prices suddenly surge upwards and a price spike occurs, you want to see if you can get a short swing trade in so you look for nearby resistance levels and then check price momentum for signs of a top. To check momentum you need some indicators to gauge the velocity and strength of price, you then wait for it to fall into resistance so you can get short. While there are lots of indicators to choose from, the stochastic and RSI are a great combination. You can learn to use each in about an hour and there also visual indicators, so once you have learned them you can see price momentum in an instant, so look them up. As soon as your momentum indicators turn down, enter your trading signal and put your stop, above the resistance level you have sold into. You then need a downside target. You can see the level of support below and the trick with swing trading is to take your profit early, just above the support level. The reason for this is obvious, if you are greedy and wait for the level to be tested, you could see it hold and see a reaction against you, that reduces profit so get out before the level is hit. This form of trading is all about “hit and run” tactics, you want to be in and out quickly and keep banking small profits which can build over time to a triple digit income. The logic is simple to understand and will always work, as human nature will always push prices to overbought or oversold levels and if you use a simple robust system, you can enjoy Forex swing trading success and make huge gains in around 30 minutes a day.

]]> http://www.swingtradingplan.com/forex-swing-trading-success-a-simple-plan-for-regular-triple-digit-gains/feed/ 0 Currency Swing Trading for Success http://www.swingtradingplan.com/currency-swing-trading-for-success/ http://www.swingtradingplan.com/currency-swing-trading-for-success/#comments Fri, 22 Jan 2010 16:14:48 +0000 James Johnson {You might be aware that, I am constantly on the lookout for excellent articles on Swing Trading, realizing that complete information is required to learn how to swing trade. |One of the things I like to do for my readers is provide the best content on Swing Trading, Day Trading and the techniques involved.|In order to be a good swing trader its critical that you understand how the markets move, I am always searching for good articles to post on my site.|Over the years I\’ve learned that to be successful at swing trading you need to have a good understanding of what the market is doing and how to take advantage of it, my goal is to provide you with the most current information.} {Now, I happened upon a really good article that discusses Swing Trading in easy to understand language.|Today I ran across this very interesting piece and thought I would pass it along to you.|While surfing the net I found this on trading that I thought would be good to pass along.|One thing about the internet, there is plenty of good information on trading out there, here is somthing that should help you.} {Make sure you look into this and inform me about what you think.|Take a look and let me know how you liked it, the feedback helps me provide you what you are looking for.|Do not skip this one…be sure to let me know what you thought about it.|Be sure you check this one out, I\\\’ll get something out of it to make your trading more profitable. } {This article will help learn trading techniques and strategies that will put you on the path to success.|This is an introduction into trading that should help improve you trading techniques and strategies.|I firmly belief that to trade successfully, you have to have a plan to be successful, this piece should get you started.|What I seek to do now is to provide the best education to all my readers, I hope this helps you improve your trading.}

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.

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