Forex swing trading is a system for trading currency that follows the momentum of the changes in their value. Unlike more conventional day trading strategies that may have a trader move in and out of a position several times a day, forex swing trading occurs over several days. This method of forex trading also involves a formula for predicting when you exit a position based on a target. By following a stable forex swing trading strategy, many traders have been able to achieve impressive returns over time.
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The basis for forex swing trading is simple and involves a few important factors that need to be established and monitored.
The first step in forex swing trading involves the concept of support and resistance levels. In simple terms, these levels define the historical highs and lows for a particular currency.
For example, if a currency seems to escalate in value to a certain point before starting to descend, this might be its resistance level. The way to better establish this is by using historical charts that show its price fluctuations over a longer period of time. If this upper price is seen to be a consistent barrier, this can be used as it resistance level for the purposes of forex swing trading. The same concept applies to the lower limit for its values and this helps establish its support number.
These two values are critical to any forex swing trading strategy and help form the basis for your trades. Doing this analysis is easy if you have access to historical data for the currencies you are considering trading. Many brokers will supply this type of information as part of their service. Some of the better forex trading programs will also access this data and can help you better establish these support and resistance levels.
Another important aspect of forex swing trading is following the momentum of a currency. Even though you can do this manually for a small number of stocks, using the stochastic indicator is a fairly well established way to keep track of this momentum. The stochastic indicator analyses the difference in the current price of a currency and its support and resistance levels and can give you a very good feel for its momentum. Establishing momentum for a currency is the most important factor in forex swing trading because it indicates the perfect time to move into a particular currency trade.
The last factor in a successful forex swing trading strategy is establishing a target value for a currency you are considering. This value needs to be established at the time you move into a position and should be firm. This way when the value of your currency position hits this trigger, you can move out of the position and take your profits. Most of the automated forex trading programs make this easy by allowing you to enter this target value as a trigger point for them to trade out of a position. This way you can be assured that your trade will be executed at the exact right price.
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Average user rating: 10/10
Reviewer: Christopher Leyton
Website: Forex Megadroid
The Forex Megadroid is a robot trading program that was developed using the 38 combined years of experience of its two founders. They were both involved with forex trading for most of their career and employ the techniques that Forex Megadroid is based on in their own trading strategies.
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Average user rating: 9,5/10
Reviewer: Christopher Leyton
Website: Fap Turbo
Automated forex trading programs are abundant on the web and every one of them uses a slightly different method to trigger the trades it makes. The FAP Turbo program is a slightly more sophisticated program for forex trading and is actually based on an older program known as forex autopilot, hence the name FAP turbo.
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Average user rating: 9,5/10
Reviewer: Christopher Leyton
Website: Forex Bling
Forex Bling (by Yohanes R. Gagahlin) is a forex trading system that can be used by any investor to increase their trading averages and help them build a profitable forex account. The system is based on years of trading experience and includes several different types of forex trading strategies.
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Average user rating: 9,5/10
Reviewer: Christopher Leyton
Website: LMT Forex Formula
The LMT Forex Formula is a unique system for forex trading that allows you to place trades that have a high probability of generating huge profits. The system concentrates on specific forex trades that have the potential of strong trending and allows you to take a position on these currencies and capture the profit.
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Average user rating: 9,5/10
Reviewer: Christopher Leyton
Website: Forex Rebellion
The Forex Rebellion trading system is a very effective way to help the average trader improve their trading accuracy and increase their profits substantially. Unlike many of the automated robot trading systems, the Forex Rebellion trading solution is a trade advisor that allows you to make your own trades based on the details the system provides.
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