Swing Trading

hello viewers,
i am new commer in forex trading i want to know swing trading so please provide me how to do swing trading and any ebooks are there on swing trading for free please provide information about swing trading here. pleae help me.

regards,
k.n.v.santosh

Dear Santosh,

with all due respect, I do not think that you are ready for swing trading. I see you posting many questions around here, rather basic questions.

Look at www.google.com, type "swing trading" and you get 7,500,000 references. Add "ebook" and you get plenty of titles.

No offense, but at least some homework must be done by yourself.

Anyway, wishing you success in your quest.

The term is defined in regards to time line.

Swing trades ususually last 1 -3 days.

Have a look at a daily chart, you'll some movements last in a up/down direction strongly for this time period.


Generally the trader ignores hourly fluctuations, but also does not intend to hold onto the commodity for it ups and downs as it heads towards its long term goal.

It is a style you can trade end of day, but you will/may get better entries/exits if you have the option to trade during the day


Silver

Consider slowing down a bit and focus on one topic for a while. The internet is overloaded with the all of information that you've been asking for and it will always be there when you are ready. Trying to learn too much at one time will end in frustration and possibly render you not interested in trading at all. This is a professional business and should be treated as such. Choose one aspect of your business and learn about it before going to the next one.

I am still a newbie, but I have felt that before. So much my head was spinning, not literally.

Does anyone recommend steps newbies should take? I know everyone is different, but are there certain basics that should be learned and possibly in a certain order (i.e. basic MM, etc.) ....walking before running. Maybe something like that would help newbies know where to start so they don't feel overwhelmed by all the info coming at them when starting. Just a thought....or will that be in the PF?

I can tell you how I started this year with Forex.

Start reading a book, that covers all aspects of Forex: technical analysis, fundamental analysis, money management. I read Forex made Easy by James Dick, but if you visit book sites like amazon.com and search for keywords like "forex" or "trading", you will get a lot more titles. Be sure to pick a book that offers a total overview of Forex.
This initial stage should give you a good impression of what Forex is like, and whether Forex suits your personality, and fits your way of trading.

The next step I made was diving deeper into the material.

I started searching for more detailed information on certain technical analysis instruments, like Moving Average, Relative Strength Index, Bollinger Bands, Oscillators, etc.
I went to investopedia.com, this site is like a encyclopedia for traders, but entering the names in Google gives you plenty of sites to explore as well. What are those instruments, what do they indicate, what don't they indicate, how can they be used in combination with others, etc. How to finetune them, how to avoid pitfalls, etc.
As there are tens of technical instruments, it is best to concentrate first on movering averages, oscillators and RSI. As time passes and you get more acquainted with them, you will start looking for others automatically.

Up till this moment, I still had not even thought about a demo account.......

I followed the same procedure for fundamental analysis. What are the most important data releases to be aware of, that would obviously influence the rates? Explanations to be found on investopedia.com, as a starter.... In this respect, this Forum offers a more than valuable economic calender, which indicates day by day the important releases, explains them, comments on them and gives a forecast.

By reading in more depth about the technical instruments, you should have started forming ideas about a trading system that would suit you, e.g. entering long when RSI is below 20 or going short when RSI is around the 70 level. Or buying when the 20 day MA crosses the 50 day MA, etc. Each trader will have his/her own preferences, and you should trade whatever you feel comfortable with. Remember, the quest for the holy grail still is in full progress....

At this stage, try a demo account. Apply your trading system. See whether it works or not. Fine-tune your system, by changing some of the parameters. Play with the time-frames.
If a certain system does not work for you, revert to the lesson books again, re-read about technical instruments untill you have found a system that is definitely yours. Trade a demo account this way for several months. Keep studying and reading about Forex in general, and TA in particular (visit this forum!). If you make consistently good money, venture the step to a live account.........

Now I must add a personal remark: I am not a fan of fully automated, mechanical trading. I hold the opinion, that external data like fundamentals and world events play a major part as well. The last months, everybody has seen the impact of hurricanes on the USD rate, and although these events get priced in after a certain lapse of time, your technical instruments will not predict them for you in the beginning.
So, I would give the advice that you should avoid focusing solely on technical analysis, and look for a modus to integrate external data with your technicals. But I know that this is difficult to accomplish for a newbie, so it is best for them to focus on one trading style - to start with. But I had to state this.

In the meantime, while getting the hang of it, you will get sufficiently introduced in the ins-and-outs of Forex, that you will be able to form personal ideas about swing trading, scalping, long term trading etc. Naturally, you will constantly expand your knowledge, and will be able to get an expert view yourself.
It goes without saying that you should visit those places on the Internet where you can find a concentration of expertise, like this excellent forum.

One more personal remark: I like to visit sites like fxstreet.com, where one can find many an expert commentary on the present economical situation, with forecasts for future rates. On the basis of my own view and the views of others, I can make an unbiased trading decision.

Sorry for my grammar, I am not a native speaker...

Could have fooled me.

Actually, I think you expressed your thoughts very nicely. Good post.

Jimmy

I want to reiterate this - investopedia is great. Trading, like any technical persuit is full of jargon and acronyms. Investopedia is a great place to start, and a reliable source of information.


I wonder how people ever learnt anything before the Internet?



Silver

Thanks for the compliment, Dangerman!

I admit, I am not a novice to the English language, but I know there is still much to improve.

And I fully agree with SliverB. How the heck did man do anything before the creation of Internet, let alone the invention of the computer...?

Through the Hardcopy version of Investopedia lol


Thanks,

Nader

Great advice Aroon, thanks.

My first experience was with the 5mfx system. Since then I am slowly increasing my knowledge. I have been reading books. There is so much to cover. Just when I think I learn something I quickly realize I know nothing.

It feels like I live in one of the worst possible time zones for Forex. I live in the US Pacific time zone and have a day job. The market is most active when I sleep. I have a feeling I will need to trade 4 hour charts and above. I have been playing with systems in demo using 4 hour charts. Doing demo using what I read about helps that knowledge stick with me and puts it into my long term memory. I am a visual learner. I just need to be patient and eventually I will be trading my own system that will give me that edge needed to survive in the markets.

Thanks again. I will put your post in my notes to read when I feel like I am getting off track.

I live in south east asia and have a day job,too....but I try to study other pairs that active during the timeframe that I'm able to monitor my trade....though It's still a DEMO but I plan to go live next year.
SO far I'm still doing my due delligence.......with some basic from stock trading I'm trying to read read and read everything from this site.


just a beginner
zynetic

Hi, which part of south east asia are you ? I'm in Indonesia

You're welcome, Snuffleupagus.

My time-zone (GMT+1) is most favorable for fulltime traders. But if you have a fulltime job, like me, all the action takes place when you're behind your desk in your office (no Forex access at my work!): the full London session, and the opening of the New York session, when there is many a data release, all occurs while I am trying to concentrate on my daily work ( . A bit exaggerated, as I love my job!).

When there are important data releases planned, you could consider to wake up early (06h00) and sit behind your computer to follow the developments after the data release at the opening of the New York session. Could be profitable during large movements.

Hi, which part of south east asia are you ? I'm in Indonesia
__________________
David Michael H
"Trader helps traders"


Apa Khabar. Khabar baik.

Selamat malam.
CET 11h00

Hi, fine thank you. Are you Indonesian too ?

No, I am not Indonesian. I travelled extensively in my younger days. I lived in many countries. I speak and understand many languages- my fingures are almost not enough to count them all. Indonesian, I can read and listen better than speaking it. Anything in Indonesian, I can give an instant English translation.
I am in Europe. Just waiting for my kids to finish Pre-university before moving again. My wife's parents are above 90. They went through the 1st and 2nd world war here and wish to be laid to rest also here.
The only country I visited and could not pick up the language is Iran. Farsi.
I saw your report on signal provider reliability at Arnaud's.
It was a good one.
Bless you,
Highway

Out Of Topic : WoW ! That is a great story of your experience I am an Indonesian, but only speak and write bahasa and english. By the way, what is Arnaud's ? Well, I hope we could meet next time you visit Indonesia

He's vacationing in Indonesia! !

A REAL BIG LOL....


Thanks,

Nader