I will be discussing with you today how you can make a career in trading as a swing trader. Can you recall your early stage in trading. Can you recall how you use to dream of becoming a multi millionaire in the space of weeks and when you started with your demo account . Have you ever asked yourself how brokers themselves make their money. Now i will be much sincere with you trading is one of the most rewarding career yet it's one of the most risky career cos the implication of you not getting things right is losing your money which is also applicable to other businesses. Research proves that it's only about 20 percent of traders that really makes consistent earnings from trading which is very true. But have u tried to ask this particular question.. what are these set of people doing that gives them edge over the market.
We simply have 2 types of traders Scalpers and Swingers.
A scalper is a trader that actually love trading the market as many times as possible and they are known as short term traders. Simply because of their trading span duration. They are type that stay glue to their chart every time to look for trading opportunities.Scalpers trades in minutes and even seconds to pack some few bucks. Their aim is to accumulate those few bucks. They mostly focus on short time frame on the chart.Tf like M1 M5 and M15

While swingers are long term traders. They are traders that wait alot for one or two perfect entry before they make a particular trade. They don't just trade.. They wait for a particular time before they trigger. They are conservative, they calculate their risk and reward and they often use decent lot size. Their trade may last for hours,days and even weeks.
They focus mainly on big time frame on the chart. Time frame like H1, H4 and D1.

I started trading then basically as a scalper but it got to a point i realized being a scalper will only make traders have a kind of bias attitude on the market direction and i realized most scalpers do drag with the market .Why, simply because they only focus on short time frame and this seems to make trading look like gambling for new fox. Making trading a career calls for special skills.. Trading is the only career that speaks alot about peoples personality.
Basically, the concept of trading is buying at support and selling at resistance but have we ever asked why traders lose money despite knowing this principle. Hmmmm is it just that brokers are out there to make money from people why?

Trading indices or forex comes with rules and principles once you abide by these principle and rules there is nothing to be scared of as a trader.
For you to have edge and make proper analysis on your chart never take the lower to frame serious cos they are meant to get you confused as a trader and they are money making tools for the brokers. They are filled with market noise ...lot of fake signals can be found there. These has broken the heart of fresh traders.. I mean newbies.
Now as a trader there are things you need to equip yourself on before you decide to fund that your account and start trading the indices market.

As a day swing Trader my analysis always start from H1 in regardless of whatever that is happening in the lower timeframe.
Now what are the things you need to consider before you take a swing trade via your H1 timeframe chart.

(1) Your trend(Uptrend or Downtrend)
(2)Your Price(Market Pattern)
(3) Resistance and Support
(4)Indicator( Bolinger band for mobile trading ) (custom indicator(for PC trading )

Knowing the trend can actually be done many ways some use indicators while some use plain eyes. Traders who can't use plain chart to know make use of indicator like the moving average.
Moving Average is simply one of the best indicators that tells you what the trend is all about.. It's reading from 10 -90 simply indicates uptrend.. The moment it get to 90(90 - 10)and it's coming down its simply telling you a downtrend but note there is most likely for pull back to occur during d movement .
I myself use main eyes to know the market direction if it's an uptrend or downtrend

Pics will be added to aid your learning process. To be continued.

This going to be a great trend, please continue, If you are new to Forex you can take our FREE Forex Trading for Beginners Training, visit http://smarttraders.com.ng/

freesoul12:
Pics will be added to aid your learning process.
To be continued.

Can you continue the lesson, please?

alexvic12:

Can you continue the lesson, please?

Good, i will continue it tomorrow. Watch out