Friday, November 23, 2012

Swing Trading Upgrade

Click on photo to enlarge
I am now trading on the 4H chart because the day chart just takes too long for me to get a signal and I prefer to be in trades a little more aggressively. I am looking to ride the high and low swings of the week based off of only doing technical analysis. It's been a challenge but it's getting there with the tools finally adding up.

I'm using three charts totaling 52 indicators, which is all visual aids to pump out just one appropriate trade! I have added on a neat commentary and price action indicator which pretty much gives me palatable trades if it is within the channel that my indicator draws automatically. I'm now just lining up a good trade using all of these charts now.

I might be averaging one or two trades a week with each currency I trade. I am testing out this strategy in a demo account using 26 different pairs! That is plenty of opportunities to test my theories before I decide to narrow in on the more profitable ones and start playing with real money. I am just keeping this simple- buying low and selling high, sticking to the main trend, and riding a channel using price action. All of these indicators match up nicely with each other in confluence which is what makes my chart unique. I'm using three instead of just one chart to make my trades!