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Swing Trading Systems

Forex swing trading is a simple and great way to trade and you can get a simple swing trading system together quite quickly.

It suits novice traders and traders who lack discipline as profits and losses come quickly and you get plenty of traders so if you like the action, this is the method for you.

Determining Overbought / Oversold Levels

In any forex trend, prices will push to far to the upside or downside and become overbought or oversold. It is these areas that swing traders are looking to sell or buy and then target prices going back to fair value.

Entering the Trade

To get a swing trading system up and running, you need to determine overbought and oversold levels. There are a variety of trading indicators to help you do this.

We like the stochastic, RSI, ADX and MACD Indicators for timing trades and Bollinger bands to see market volatility. The choice is yours, there are plenty to choose from and used with support and resistance levels, you can time your trading signals. 

Taking Profits

When swing trading you need to exercise proper money management by placing stops as soon as you enter the market - but you shouldn’t trail them, in  most instances. Unlike trend following, you are only looking for trades which last a few days to a week and the best way to make profits from them is to work with profit targets.

Swing trading profits can disappear quite quickly, its therefore best to take them in with a profit target. A good way to do this is to take your profits slightly early (before a level of support and resistance everyone else is looking at is hit) by banking early, you get out with the odds on your side, before a potential recoil in price which eats into your profits.

Swing trading should be simple – Establish overbought oversold levels – Place stop – have target take profit.

That’s it.

A Simple Way to Seek Profits

You can put together a currency trading system for swing trading very quickly and the simpler the better. Our swing trading method is just 3 rules but it works very well.

Swing trading can be simple, fun, exciting and very profitable. We think swing trading should be considered as part of any ones forex education and is a great method to incorporate into your overall forex trading strategy. 

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