Swing Trading Forex Price Action – Weekly Outlook & Lesson

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Swing Trading Forex Price Action – Weekly Outlook & Lesson
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In this Forex trading vlog, I go to a review of the Forex pairs I follow. I describe how to swing trade Forex price action. Vlog #350.

My trading strategy: https://youtu.be/t1wqG-SekKc

Best interview on price action in Forex: https://youtu.be/ZuIMzfHxxns

Previous weekly Forex outlook: https://youtu.be/vyi0xc0qTSY

// SOCIAL
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// ABOUT ME
My name is Etienne Crete (from Montreal, Canada). I’m a swing Forex trader and help aspiring Forex traders develop a trading method that works for them so they can produce income allowing them to live with more freedom.

I blog at www.desiretotrade.com and host the Desire To Trade Podcast. I was fed up with the “fake” millionaire traders and the “get-rich-quick-trading guys”. That’s why you can expect more free content from me than what other people charge for!

If you truly want to succeed in Forex trading, I believe you need to keep working on yourself so you can improve your strengths, but also your weaknesses. Do not focus solely on what you’re good at.

// Disclaimer
This video expresses my personal opinion only. Forex trading is risky. Make sure you are ready to trade. Even this will not guarantee you positive results. I am not responsible for any losses incurred due to your trading or anything else. I do not recommend any specific trade or action.

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Forex Price Action Swing Trading, Swing Trading Forex Price Action – Weekly Outlook & Lesson.

Is Swing trading more secure than day trading?

Yes swing trading is a lot more much safer than day trading and The factor is rather basic! In day trading, an investor enters and departures a variety of positions to make profits from little variations in market. Whereas, swing trading involved holding supplies for a longer amount of time, state from days to weeks.

Pre-Market

The retail swing investor will certainly usually begin his day at 6 am EST, well before the opening bell. The moment before the opening is important for obtaining a total feel for the day’s market, locating possible trades, developing a day-to-day watch checklist and, lastly, checking up on existing positions.

Market Review

The initial task of the day is to catch up on the most up to date information and advancements in the markets. The quickest method to do this is through the cable television service channel CNBC or credible websites such as Market Watch. The investor needs to keep an eye on 3 things specifically:

• Total market view (bullish/bearish, crucial financial reports, rising cost of living, money, overseas trading sessions, and so on).
• Field view (hot sectors, growing sectors, and so on).
• Present holdings (information, profits, SEC filings, and so on).

Factors to consider and Variations On Just How Much You Can Make

If you could take 10 (legitimate) trades a month, instead of 5, your revenue would increase. If you take less than 5 trades a month, your revenue drops accordingly. This presumes you maintain the 60% win rate and 3:1 reward to risk. Raise the win rate or raise the reward: threat, while preserving the various other proportion, and your revenue will certainly raise. If win rate or reward: risk drop though, anticipate a decline in revenue.

If you average reward: threat winds up being 2:1, after that your month-to-month revenue drops to about 3.5% to 4%, assuming all various other variables stay the same.

If the win rate is 50%, at a 3:1 reward: threat, the month-to-month revenue likewise drops to about 4%. Very somewhat adjustments have a substantial effect on profitability.

Do swing traders make money?

When swing trading, the market you trade– supplies, foreign exchange, options, or futures– doesn’t matter too much. All have their own benefits and all offer similar revenue capacity. For instance, if you make 5% a month trading a $2000 account, your revenue is $100. If you make 5% a month on a $60,000 account, your revenue is $3,000.

Danger 2% per profession, instead of 1%, and your revenue likewise increases. Danger 0.5% per profession and your revenue is cut in half. This presumes all various other statistics stay equivalent.

For simplicity, these scenarios think that you would go into and leave positions within the month. That may not always be the case. If your trades last 2 months, after that this revenue would be spread out over two months. If your trades generally only last a week approximately, after that the scenarios are precise, assuming you can replicate the conditions above.

Search More info Explaining Forex Price Action Swing Trading.