Currency Swing Trading - Why Novices Can Build Big Profits With This Method

Currency swing trading is the perfect method for a novice to use because it overcomes the main barrier that most traders have when trying to achieve currency trading success...

It overcomes the problem of discipline. Most traders lack discipline and it's the big difference between success and failure and swing trading requires very little as profits and losses come quickly. It also overcomes the impatience of most traders who like to trade.

Before we continue you might say well, forex day trading requires even less because the moves are shorter but the problem you have with day trading is it simply doesn't work.

Why?

Because all moves within a day are random and you can never get the odds on your side and you will eventually lose.

You get a lot of vendors telling you that you can make money day trading but look at their track records - there all simulations in hindsight and that means nothing.

Swing trading is easier than long term trend following from both a discipline point of view and a patience point of view but can be just as profitable.

You're Aim

You are looking for reactions within the major trends when prices get over bought and oversold and trading into these levels and a swing trading based upon the following will work.

You simply need to use trend lines and Bollinger Bands - the latter tells you the volatility and is a great tool. Check our other articles for more details. When prices become overbought and oversold and testing resistance or support you have a potential trade.

Confirm the Move

Before it gets to this level you need to check the strength of price it should weaken into resistance and strengthen into support ( never guess always wait for confirmation), you check the strength of price with momentum oscillators and two great ones to use are the stochastic and RSI.

You're Stop

If they support your view you trade and your stop goes behind the support or resistance level tested.

Hit and Run

You should take your profit early and not trail a stop and your profit should be taken in when the price moves toward the next level of support or resistance. Currency swing trading profits disappear quickly, so you simply take them early or "hit and run and bank"

Simple but Effective

Now the above is a simple currency swing trading system I have used for 20 years or so and it's worked well for me and can for you and you can pile up triple digit profits. Don't be put off by its simplicity all the best systems are and this means they are robust with fewer elements to break.

You can learn to swing trade in a week or so and it will take you less than 30 minutes to apply. It's fun, exciting and can and does make big profits - try swing trading and you maybe glad you did.

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AP - The formula for a financially successful retirement used to be straightforward: Work for decades for one employer and then live happily ever after on the pension, Social Security and whatever personal savings you were able to amass.

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Forex Market Analysis

I'm going to take the time to talk to you about forex market analysis. There is a lot of money to be made in this market which is pretty evident by the fact that there are three trillion dollars moving around each day. This obviously attracts new people to this market looking for a quick buck. The problem is that the market isn't nice to new people. These people end up losing their money pretty quickly because they didn't sit down and learn the basics of trading in this market. I'm going to share with you a little of what I've learned during my time which should help you out.

You're going to have a chance to do trading at anytime you want. It's a global market, so there is trading to be done at anytime of the day. The problem is that it isn't always profitable at all times. There are times where the market is very chaotic and erratic, which makes it an extremely poor time to do your trading. You typically have the peak hour, which is the busy times and off peak hours, which is the slower times. Surprisingly it is the slower times that are chaotic because there isn't enough volume to have a stable supply and demand. Stick with peak hours for trading.

Having the proper tools to get the job done is an important part of forex market analysis. I use the 10 Minute Forex Wealth Builder because it is an automated software tool that is designed to do analysis all day long. It can turn out to be a very valuable and profitable tool for all traders out there.

Learn more about the 10 Minute Forex Wealth Builder.

Reuters - There was a time when a tumble below $10 in the share price of a company in the Dow Jones industrial average (.DJI) meant ignominy.

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Forex Trading Systems - Using Computers for Profit

Today the computer you have on your desk is much more powerful than Mission Control Houston that helped man land on the moon. Powerful computers have changed our lives for the better and here we will look at their affect in forex trading and the application of forex trading systems by traders for profit.

So how useful are computers in forex trading?

The role of computers is very often misunderstood by forex traders.

Computers have enhanced our lives in many areas and help us solve complicated problems there is the belief forex trading systems can be created to trade forex markets automatically.

There are a number of forex trading systems for sale that promise to do just that - and most of them fail.

There are two reasons for this failure:

1. The System is to Complicated

Its tempting to make a system complicated and many traders do they figure the more elements it contains the better its chances of success however the complete reverse is true.

The more rules and parameters you cram into a trading system the more elements there are to break in the brutal ever changing markets - it's a fact simple systems work best as they are more robust and this has always been so.

2. Curve fitting

Many systems that fail in real time trading actually work in hindsight when their tested on data and the reason for this is curve fitting. Curve fitting is simply bending the rules of the trading system to fit the data. When the first rules don't work the trader simply bends them until they do. This is a bit like shooting at door with a shotgun and then after the event, drawing a chalk circle around each one to make it a bulls-eye!

Keep in mind that any segment of data is going to be different as the markets are not scientific in terms of their movement so the appliance of science is of limited use.

The above mistakes are often made in tandem and complexity or trying to be clever testing data and bending a system won't help you make money.

Here is another startling fact:

50 years ago 95% of traders lost and today the ratio remains the same - this is despite all the advances in computers forecasting and market data retrieval. It's pretty clear that the application of computers has made no real difference to the success of traders.

Many traders think the application of science and computers can help in all areas of life and in many they can but in forex markets this is not so.

Computers make your life easier but they cannot be relied upon to give you success.

Just as in the past a simple system will beat a complicated one and that is never going to change as forex is a game of odds not certainties.

Yes computers are helpful but the real key to trading is finding a simple forex trading system, understanding it and applying it with discipline.

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Reuters - Bears could have the upper hand again next week if Wall Street fails to get assurance that major banks can be rescued without being seized by the U.S. government.

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I Was Once New to Forex Trading Online Too!

So you're new to Forex Trading online?

Chances are you're here because you need to make money. This could be brought about by a desperate need to pay the bills, a desire to find a new line of work or perhaps for a fortunate few, "play" around in an investment medium.

Most newcomers to trading start out with one (or both) of the first two needs, I did too! The internet marketing community understands this which is why you'll find so many programmes, search links and products online. Several sources offer Forex Trading tips and the promise of making loads of money quickly. Start trading in 15 minutes some say! How can you pass up such an opportunity when you're desperate?

If you've spent a little time looking into trading online, you've no doubt run the "forex trading scam" search and found many warning signs out there! Can you ignore the advice that if it sounds too good to be true, it usually is? Well I'd like to answer some of these questions for you:

• Yes lots of money can be made through Forex Trading online. Trillions of dollars are traded across the globe, every day. Trades can be made in seconds and you can be part of it.
• Yes you can trade within a few minutes, as some platforms offer quick and easy start up processes. Other more established dealers require a more detailed approach and contractual documentation needs to be submitted.
• Yes, if it sounds too good to be true it usually is! This rule also applies to Forex trading. Whilst money can be made, and lots of it, it simply is not as easy as it sounds. There is substantial risk involved but this is has always been the case for high return investments.

There's a thrill to risk and danger in a fast paced environment. Forex trading online offers you all of this and can therefore become almost addictive. But you need a clear mind before entering this space. You need to take time to understand the market and the tools used by traders, which from my experience, makes this activity less suited to the desperate.

You see, I was desperate once too! I needed to make money quickly and did not therefore have time to study the business extensively. Quick gains came my way but not in the form of cash! My gains were in education and learning. Yes, I learnt that if you do not respect the industry and think that anyone can just walk in and make money, you're lucky if you come out ahead!

I was forced to step out and make my desperately needed cash in Internet Marketing first. Once I was settled and my desperation removed, I managed to get back to Forex Trading with great financial success.

There are many valuable tools and Forex Trading online information available. My advice to those of you, who are new, is to take the time to learn and remember that nothing comes easy! You've got to do the time!

Reuters - Merrill Lynch is shifting a majority of its contracts from troubled Indian software firm Satyam Computer Services Ltd to rival Tata Consultancy Services , the Economic Times reported on Monday.

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Forex Trading - An Introduction Into A World Wide Market

It is crucial to be aware of specific issues happening in the world, particularly if they have the potential to offer benefits, such as Forex trading. Essentially, the Forex market is a non-stop cash market where currencies of various nations are traded. It is somewhat similar to a stock market, with Forex trading these foreign currencies are continually being bought and sold throughout both local and global markets.

There are numerous rewards that are extended to private and potential investors within Forex trading, including a giant liquid market making it simple to trade the majority of currencies, volatile markets offering numerous profit opportunities, the capability to profit from both rising and falling markets, and leveraged trading with low margin requirements.

The Details

When it comes to Forex trading, one of the most significant things to bear in mind is what the basic investor's goal is here. Simply speaking, the goal is to make a profit from movements in foreign currency. When trading currencies it is crucial that an investor only make trades when they have an expectation the currency that they are purchasing to increase in value relative to the currency that they will be selling, otherwise there no gain will result.

The exchange rates are continually fluctuating in Forex trading and it is important for all investors to remain on top of these types of changes and be mindful of them. There are numerous resources that are available to help in this regard, both on the internet as well as off, and any of these will really work well provided that they are continually being updated and not just once a day.

The Differences

There are numerous important differences when comparing Forex trading and other stock market trading. Firstly, unlike the trading of basic stocks, futures or options, this kind of currency trading does not happen on a regulated exchange. It is not regulated by any governing body and so there is a great deal more freedom with this specific kind of trading.

Forex is the biggest financial market throughout the world and the retail Forex market is strictly a speculative market and investors need to be mindful of this. There are no physical exchanges of currencies actually ever taking place, but instead all trades that are placed here exist merely as entries in a computer and are then netted out dependant upon the market price.

Forex is decidedly a market worth looking into, though it is crucial that any possible investor first be trained and aware on what it necessitates and what is expected of them here. Otherwise significant loss will in all likelihood result.

Listen to Korbin Newlyn as he shares his insights as an expert author and an avid writer in the field of finance and investment. If you would like to learn more go to Forex Quote advice and at Forex Trading System tips.

AP - Rates on 30-year-fixed mortgages fell this week, offering homeowners a chance to refinance their loans, Freddie Mac said Thursday.

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Trading Advice For Motivated Forex Traders

I'm here to give advice to help all the motivated forex traders out there that are probably not doing as good as they deserve to be. I hope this advice should help you out and it should be applied as daily tasks.

What is the most important thing I should do?

Besides constantly learning, you need to develop a routine. A routine is the most profitable thing you can do because it becomes tasks you do that require no thought on your part. You just "do it". Like brushing your teeth for example. That is a routine. You don't think about it. You just go and do it. It doesn't matter if you had a rough day at work or you're tired, you do it. Same thing applies here.

Routines don't consume your mental energy. Your mental energy needs to be conserved as much as possible because this is energy that ends up tiring you out and making you lazy. Each day should be mainly routine. You shouldn't have to wake up and figure out what you need to do. That expends energy. When you finally get that routine going, you'll start making money. The great thing about it is that you still have that mental energy and you can use it to tweak your routine to be more profitable.

What is the best tool I should have?

You definitely need to get your hands on an automated software like Forex Killer. The reason is simple, you're just one person. The days are long in forex and like most people, you probably won't feel comfortable leaving thousands of dollars in the market while you're not watching. With Forex Killer you can set in variables that force it to sell if you experience so much of a loss. You can also set it to sell once you meet a specific profit. It's a great tool, especially when you still have your day job.

For more information on the Forex Killer software, check out Forex Charting Software.

Reuters - More than 1,000 U.S. banks, or one in eight lenders, may fail in the next three to five years as commercial loan losses rise, compounding problems from record mortgage delinquencies and soaring home equity loan defaults, RBC Capital Markets said on Monday.

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Forex Day Trading and Scalping Systems - A Great Way to Wipe Your Trading Account Quickly

I see day traders and forex scalpers selling trading systems online claiming profits but look at the track record closely and you will see, there not real at all - In fact they have never been traded and the profits are paper ones - they all have this disclaimer on them....

"CFTC RULE 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown".

Umm, so they all have the above on which means, they have never been traded in the brutal hard world of forex trading and of course, trading without knowing the prices ( rather than simulating backwards knowing them) is the real world of trading and much harder.

Day trading doesn't work however marketing organizations create great copy to sell the concept and the nave or lazy trader, thinks he is going to make a regular income, with 90% accuracy etc.

He sits back with a cold beer and thinks he will never have to work hard again, of course he gets rewarded but - with an equity wipe out.

When I was a broker, we loved day traders - why?

As you probably know most brokers take the other side of the trade, so they win when the client losses.

No day trader EVER won when I was there and I saw maybe 20,000 client accounts. Also, the other myth is forex brokers hunt day traders stop - nope. They don't need to bother, the day trader always has his stop within normal random volatility so the market takes him out, the broker doesn't need to help.

So why doesn't day trading work?

Think about the huge mass of people who trade each day and they all have different skills, trading systems, and aims and to think, you can work out what this diverse group, of emotional beings is going to do, in a few hours is futile and dommed to failure.

All volatility is random in daily time frames so how on earth can you get the odds on your side?

You cant - so don't attempt it.

If you want to win at forex trading, learn how to trade longer term and you will find the data helps you calculate the odds and gives you a chance to win and win big gains.

If you want to win at forex trading, you need to trade the odds - so forget day trading and scalping, trade longer term and enjoy currency trading success.

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AFP - Asian and European stock markets rose Friday as investors shrugged off gloomy company results to concentrate on overnight Wall Street gains and a huge US economic stimulus plan, traders said.

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Forex Day Trading- Two Step Trend Analysis

If you approach forex day trading by just looking at the 5 minute and 15 minute charts there is a strong possibility your account will evaporate sooner rather than later.

In order to get a feel for the market and an indication of the current trend it is necessary to do an analysis by looking at multiple charts on different time frames starting with higher level charts first.

Rather than having the charts cluttered with numerous indicators and signals which can cause signal paralysis, I recommend just two:

1. MACD (with default settings)

2. 200 EMA (Exponential Moving Average)

Now examine your charts using a top down approach:

• Daily
• 4 Hour
• 1 Hour

As you check each chart take note of these two factors:

1. Has MACD crossed down or up and is it above or below the water line?
2. Is price above or below the 200 EMA?

While it is not crucial to have them all lined up on these three time frames for successful forex day trading, if you want to be a cautious trader and go for high probability trades then certainly MACD on the 4 hour chart and 1 hour chart should be in agreement as also should price in relation to the 200 EMA.

The daily chart can be useful in seeing the larger picture and for noting key levels of support and resistance. They stand out on a daily chart so if price is within 100 pips of a crucial level of support or resistance as seen on the daily chart, make a note of the figure.

Then scale down to the lower time frames and see if this level matches with other indicators such as pivot points or Fibonacci levels.

Once you have done this groundwork, NOW you can look at the 15 minute and 5 minute charts for a suitable entry point.

Remember, for successful Forex day trading you need to adhere to the No. 1 commandment: Buy The Dips and Sell the Rallies!

So avoid chasing the market and going with the flow. Instead, wait for price to come the level you want, set your entry order, and let price pull you into the trade.

The Danger With Lower Time Frames

Just concentrating on the 15 minute and 5 minute charts will not give you the bigger picture. You could see what looks like a perfectly good trade and set your stops and limits only to find you get blown out within a few minutes.

By looking at the higher time frame you would probably have seen you were close to a key support or resistance level and either not gone into the trade or adjusted your stops and limits accordingly.

For the novice, Forex day trading can involve a huge learning curve. Include this simple daily top down analysis approach to your trading and protect yourself against making trades you wish you didn't!

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Reuters - U.S. mortgage rates jumped to their highest levels since December in the latest week, complicating government efforts to bring mortgage rates down to levels that will spur demand and help the hard-hit housing market begin to recover.

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Currency Trading Charts - Traders Advice

Currency trading charts display the current and previous exchange rate for each currency. The real trick is knowing when to make an educated decisions on when to close a transaction in the foreign exchange market.

New technology has led to currency trading 'robots', which process all the vital information within the foreign exchange market. Detailed figures are stored and displayed as a currency trading chart. The 'robots' make mathematical predictions on any changes in the market.

Recently, software advancements allow these programs to enter and exit deals, with complete automation. Now you can trade currency while you sleep. With a simple PC and an internet connection, you can setup a business that requires very little maintenance.

Any software that produces accurate trading charts and predictions can be a vital resource for any home currency trading business. It's not going to be perfect for everyone; many professional traders do not rely completely on software 'robots', but it can be a large part of their organization.

Are you not completely confident in trading currency yet? Neither was I when I first started as a trader. If you're a beginner you can get a real benefit from currency trading software. Demo trade accounts allow you to trade with 'fake' money, as if it was your own personal investment.

When those figures start to rise, your confidence starts to build, a real campaign might now be an option. The majority of forex software is covered with a 60-day guarantee, this home business strategy is low risk and now possible for absolutely anyone.

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Reuters - The Dow Jones and S&P 500 indexes ended lower on Monday as uncertainty about the Obama administration's plan to stem bank losses hit financial shares and a bleak outlook by Macy's fueled worries the U.S. recession is worsening.

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