Is online trading a good source of earning? The answer is simple: trading is the best option in this growing world.
Forex trading has already gathered a large market worldwide, and the world economy is affected by it very much. With a great strategy like the Forex swing trading strategy, you can create multiple profitable trades.
What is swing trading?
In Forex trading, wins or losses depend on how strategic you are. There are several strategies for trading Forex. "Swing trading" is one of the best strategies for this.
But I need to clarify that swing trading is a style of trading rather than a strategy. It's a reliable way that ensures gains within a comparatively concise time sequence.
This strategy follows a short/medium trading form. Here traders generally hold positions for several days or a few weeks. Profits are gained by identifying the 'swing highs' or 'swing lows.'
This strategy is popular among full-time job holders as they cannot monitor the charts all day long to trade. They trade in leisure time and spend several hours examining the market to make a trade.
You can find many forex swing trading strategies pdf online to gather some knowledge. Swing trading is different from day trading. Here the main aim is to gain profit within a day.
It's not for the long-term player. A swing trader can fix a trading convenience with a timeframe, and it can be for several days or a few weeks. People whose motive is to profit early can quickly go with swing trading.
Swing traders first use technical analysis to find out their trading position.
Traders observe price trends and patterns through charts and decide to open the positions.
Those interested in swing trading should learn every single thing about Swing Trading. I hope this article will be beneficial for them.
Forex swing trading strategies pdf is an excellent choice for learning in-depth knowledge about forex swing trading strategy.
How does Swing trading work?
Swing trading is the best option for the trader who has a full-time job or can't monitor charts all day long but has a particular time to analyze the market and remain up-to-date with the global economy.
In a swing trading strategy, currency pairs' price is up-to-date through technical analysis.
This trading aims to identify 'swings' with a medium-term trend and get in only when they point out a high probability of winning. Here traders buy a currency at the time of 'swing low' and then sell them when it's on 'swing high.'
In swing trading, trades last more than one day. For weather volatility, it required more considerable stop losses. A Forex trader must have money management along with his trading plans. So, Is forex good for swing trading?
Since swing trading Forex works best on the higher time frames, open doors are restricted. You may just get five to ten arrangements every month. Be that as it may, the return from everyone can be a lot more prominent than the individuals who day trade.
Often you can observe trades are just against you during the holding period because of currency pairs' fluctuation rate. It fluctuates more for a short time frame, but you need not worry much about it.
Here the most important thing is to claim your desire one in time. If you cannot do so, it can affect your overall profits.
Why do forex traders use swing trading?
Forex trading captures the world's largest market. Here being strategic is much more critical. Swing trading strategy is one of them, and it's becoming popular day by day.
This system isn't concerned about the long-term value of a particular currency. Its work process is finding profit through a high swing point. It can work all day, but you can select a specific period.
First, look at the orange horizontal line. It represents what is known as a level of crucial support. Between late May and the middle of June, we can see that it was tested on three separate occasions but held up.
However, after a recovery period, the New Zealand dollar plunged past the 0.649 level line and continued to fall. That being said, News trading is also something that is entirely compatible with swing trading.
In terms of news trading, if you want to get access to latest and controversial economic news then you should follow Express news.
At this point, the possibility of a swing trade loomed into play. NZD had not been worth as little as 63 cents for four years.
By the time it reached 0.630, it was already trading at around 9% below in March. Ultimately you can ask:
Are Swing traders more profitable?
So my answer will be: Swing traders expect to make a ton of little wins that amount to huge returns.
For instance, different traders might stand by five months to acquire a 25% benefit, while swing traders might procure 5% gains weekly and surpass the other trader's advantages over the long haul.
Are you interested in Intraday trading but don't know about the easiest and most effective strategies?
In this case, here are one of your best options is Intraday Trading Strategies & Techniques, which allows you to adapt quickly and help you make a profit out of Intraday Trading.
What Is Intraday Trading?
Intraday trading, often known as day trading, is where a person buys and sells financial assets such as stocks and shares on the same day.
Even if intraday trading is a risky way to invest your money, you may profit if you trade with caution and techniques.
Intraday trading is a dangerous and unique technique to invest your money compared to traditional stock market investment.
This blog will cover the different intraday trading strategies and tricks that beginners should learn. Consider these tactics essential because there are other aspects to consider before beginning to trade.
Here, stay up to date with the 5 BEST Intraday Trading Strategies For Beginners:
Momentum Trading Strategy
The stock market changes every second, and this method is based on taking advantage of that Momentum.
Before a significant market movement occurs, we must follow the appropriate stock. Stocks are chosen based on current headlines, mergers and acquisitions, profits, and other factors. Traders use this fluctuation to purchase and sell assets.
The price of a company might fluctuate due to various external reasons, so investors must keep up with the latest news on the equities they're tracking. The stock's market momentum determines the investor's holding period.
When purchasing and selling shares on the same day, precise timing is critical. The intraday trading method entails following a stock that has broken out of its normal trading range.
A trader uses this approach to join the market when the stock's price rises over its resistance and support levels.
Breakouts need immediate entry and exit from the market with little time to waste.
Traders determine the breakout price level and then wait for it to happen. This is a significant risk since nothing will be left to buy following the breakout.
This trading method is more complicated than the others since it includes a significant level of risk. Investing decisions are made here against market tendencies but based on analysis and calculations.
Traders are on the lookout for equities trading at extreme lows and highs. These stocks have a decent possibility of reversing their trend.
The transaction is performed when the reverse value comes to the deal's limit. When security moves backward, a stop is signaled. The traders then wait for the stock to reach its maximum range of movement.
This strategy makes money by exploiting slight price movements. It's a frequent intraday trading strategy for buying and selling commodities.
Traders that participate in high-frequency trading employ this strategy. The primary and technological setup are of little importance in this scenario.
Traders who use this strategy should select both liquid and volatile equities. It's also crucial to set a stop loss.
This is a well-known Forex trading strategy. News trading strategy is also SUPER effective. When it comes to staying up to date with the latest news, you can definitely follow Fastbull on a regular basis.
Moving Average Crossover Strategy
Another excellent intraday trading strategy is the moving average crossover strategy.
When the price of a stock or other financial instrument rises above or below the moving average, Momentum has changed.
An [Uptrend] occurs when the price of a stock rises above its moving average. On the other hand, a downtrend is defined as a downward movement in stock prices.
Traders are advised to adopt an extended position and buy equities if the market is on an uptrend. Traders initiate short positions and sell their shares when the market is downtrend.
The popularity of the international forex market has made it the largest financial market in the world. According to a 2019 BIS report, the daily volume of forex traded amounts to $6.6 trillion. Around 3.5% of the total turnover was retail in 2013 as per a report by BIS.
The internet has facilitated retail forex trading such that anyone from anywhere can engage in the trade. However, this seamless access to the market guaranteed by the internet has created a rat-race for traders among forex brokers.
Today, scam forex brokers use every form of gimmick to hoodwink ignorant individuals into trading and investing in the forex market in the guise of an easy path to wealth.
The African continent has seen massive growth in the number of retail online forex brokers in recent times. Currently, there are an estimated 1.3 million active forex traders on the continent and the number is growing rapidly by the day. This is coming at a time when there are no regulations for retail forex trading among many countries on the continent.
Currently, only Kenya, South Africa, and Mauritius have regulations guiding online retail forex trading. Tanzania like many of its continental counterparts does not have. The absence of regulation is one of the many risks and challenges faced by retail forex traders in Tanzania.
Forex traders and those intending to participate in the international forex market should first understand how the forex market work. Forex is the exchange of one currency for another for different purposes. Most retail forex traders participate in the forex market with the aim of profiting off the price difference in currency pair at the end of the trade.
In reality, forex trading is not as forex brokers and their marketers make it to be. It is much more difficult and complex. This article will discuss three truths about forex trading.
1. People Lose Money In Retail Forex Trading
Many individuals, especially newbie forex traders, believe they can make a fortune off forex trading. This belief stems from the aggressive marketing gimmick of online retail forex brokers.
While it is possible to earn money and even make a living from forex trading, especially from day trading the odds are stacked against you.
When you trade a currency pair let's say USD/EUR, you are betting on the USD to rise against the EUR. However, someone in another part of the world is betting on the EUR to rise against the USD. Your success depends on the failure of that person.
According to financial analysts, around 65 to 89 percent of forex traders encounter losses in their trade. The stats for CFDs is even higher with an average of 74% losing out on trades.
2. Forex Trading Requires In-Depth Training And Education
The international forex market is the most liquid financial market in the world. Price movements in this market happen at a pace only highly skilled and professional traders can handle. One cannot master the complexities of the market within a short period of time.
In recent times, some brokers with sugar-coated tongues offer short training aimed at providing traders with instant proficiency in trading in the forex market. This is not true. To master the art of forex trading, you must give yourself knowledge and practice over a considerable period of time
The knowledge and understanding of the technical intrigues of the market are not one a neophyte can master on a weekend or a short course. It can take years to fully grasp the nitty-gritty of the market and become a professional. Even at that, the volatile nature of the market makes it immune to any form of professional handling.
Also, forex trading has a motley of technical registers peculiar to it. Terms like leverage, pip, spread, forex pair, margin, bid/ask price, etc., must be properly mastered if one is to avoid the mistake of losing his investment.
However, many forex brokers now provide demo accounts and other forms of investor education that aim to train and educate new forex traders
3. There Are Scams In Forex Trading
Like every other venture, there are scams in forex trading. These scams range from nefarious, unregulated brokers, to those who make forex seem like a get-rich-quick scheme, hackers, etc.
As per findings by broker research firm Safe Forex Brokers, there are so many scam brokers that target the general public in East Africa to their HYIPs in the name of forex trading.
if you are a Tanzania-based trader involved in forex trading, you must ensure your broker is regulated by top-tier regulators such as UK's Financial Conduct Authority, Cyprus's CySEC, Australia's ASIC, etc. A broker who has a license with one of these regulators can be considered safer than a broker that is not regulated or is offshore regulated.
This is an important step because online retail forex trading in Tanzania is not regulated. It is not illegal per se. That is your trade and invest at your own risk without local government protection. Trading with a broker that is not regulated or regulated by some less rigid regulators is highly risky as they can run away with your investment.
Also, you should avoid those who make forex trading seem like a Ponzi scheme where you invest and get a guaranteed return. Some go as far as deceiving novice traders that they can provide some robots that can facilitate trade and deliver consistent profit. This is absolutely wrong and you should be careful.
As per Forexscopes, Trading with an unknown unregulated broker can open you up to hackers who might steal your important private data such as credit card numbers, background information, etc., and use such to steal from you or scam you.
Forex trading is not all gloom and doom. You can earn a good income from the market if you practice & follow strict risk management.
However, you should be careful, well-trained, and educated about the fundamental and technical analysis of the forex market. You should also have a defined and tested trading strategy. Learn as much as you can about risk management.
Also, do not enter the forex market with funds you cannot afford to lose. Forex trading as said earlier is not a Ponzi scheme where you invest and get paid back without risks. As said earlier, the chances of you making a profit are very low since most of the retail traders lose.
Also, remember that if you are making a profit means that another person is losing. If your broker is a market maker, then if you are making a profit then your broker is losing.
So, a bad broker is incentivized to make you lose. You can earn income through forex trading but remember that the chances are very low. You must know how you apply the truths about forex trading. Source: The citizen
Users have been warned against a new malware designed to steal crypto from browser extension wallets such as MetaMask and Coinbase Wallet.
Security was never the strong suit of browser-based crypto wallets to store Bitcoin (BTC), Ether (ETH), and other cryptocurrencies.
However, new malware makes the safety of online wallets even more complicated by directly targeting crypto wallets.
P.S: Trade with a trusted Forex broker (LiteFinance)!
That works as browser extensions such as MetaMask, Binance Chain Wallet, or Coinbase Wallet.
Named Mars Stealer by its developers, the new malware is a powerful upgrade on the information-stealing Oski trojan of 2019, according to security researcher 3xp0rt.
It targets more than 40 browser-based crypto wallets, along with popular two-factor authentication (2FA) extensions.
Metaverse, Nifty Wallet, Coinbase Wallet, MEW CX, Ronin Wallet, Binance Chain Wallet, and TronLink are listed as some of the targeted wallets.
The security expert notes that the malware can target extensions on Chromium-based browsers except Opera. Sadly, it means some of the most common browsers such as Google Chrome,
Microsoft Edge and Brave made it to the list. Also, while they are safe from extension-specific attacks, Firefox and Opera are also vulnerable to credential-hijacking.
Mars Stealer can be spread through various channels such as file-hosting websites, torrent clients, and any other shady downloaders.
After infecting a system, the first thing the malware does is check the device language.
If it matches the language ID of Kazakhstan, Uzbekistan, Azerbaijan, Belarus, or Russia, the software leaves the system without any malicious action.
For the rest of the world, the malware targets a file that holds sensitive information such as crypto wallets’ address info and private keys.
It then leaves the system by deleting any presence once the theft is complete. Hackers are currently selling Mars Stealer for $140 on dark web forums.
Meaning the barrier to access the trojan is relatively low for malicious actors. Users who hold their crypto assets on browser-based wallets.
Or use browser extensions like Authy to utilize 2FA are warned to be cautious against clicking dubious links or downloads.
মানি ম্যানেজমেন্ট হল এমন একটি পদ্ধতি যার মাধ্যমে ফরেক্স ট্রেডাররা তাদের অ্যাকাউন্ট ম্যানেজ করে থাকে। ফরেক্স ট্রেডারদের জন্য মানি ম্যানেজমেন্ট খুবই জরুরী। একটি ভাল মানি ম্যানেজমেন্ট আপনার অ্যাকাউন্টকে ব্যাঙ্কর*্যাপ্টসি থেকে রক্ষা করতে সাহায্য করে। একটি ভাল মানি ম্যানেজমেন্ট ফলো করলে আপনার ক্যাপিটাল হারানোর সম্ভাবনা খুব কম।
ভাল মানি ম্যানেজমেন্টের কিছু নিয়ম রয়েছেঃ
১. অ্যাকাউন্টের ছোট পার্সেনটেজ নিয়ে রিস্ক নিনঃ
অ্যাকাউন্টের ছোট পার্সেনটেজ রিস্ক নেয়া কেন গুরুত্বপূর্ণ? এর কারন হচ্ছে আপনাকে আপনার অ্যাকাউন্ট টিকিয়ে রাখতে হবে। প্রথমে আপনার অ্যাকাউন্ট টিকিয়ে রাখতে হবে, তারপর প্রফিটের কথা ভাবতে হবে।
ভালো ট্রেডার তারাই যারা তাদের অ্যাকাউন্ট টিকিয়ে রাখতে পারে এবং এ ব্যাপারে সচেতন।
যদি আপনি কম রিস্ক নিয়ে ট্রেড করেন তবে কোন ট্রেডে আপনার লস অনেক বেশী হলেও চাইলে আপনি আপনার ট্রেডটিকে হোল্ড করতে পারবেন।
ট্রেডে আপনার অ্যাকাউন্টের মোট পার্সেনটেজের কম এবং বেশী রিস্ক নিয়ে ট্রেডের একটি উদাহরন নিচে দেখা যাক। দেখুন টানা ১০টি ট্রেডে লস আপনার অ্যাকাউন্টের কতটুকু ক্ষতি করতে পারে।
বিঃ দ্রঃ নতুন বছর শুরু হোক লাইটফিনান্স এবং iphone13 Pro MAX এর সাথে (বিস্তারিত লাইটফিনান্স এ)
২. হারান ক্যাপিটাল পুনরুদ্ধার করা কঠিনঃ
কেউ যদি তার অ্যাকাউন্টের কিছু অংশ হারায়, তাহলে তা পুনরুদ্ধার করা কতটা কঠিন?
আপনি যদি আপনার অ্যাকাউন্টের ৫০% হারান, তাহলে আপনাকে লস রিকভার করতে আপনার নতুন ব্যালেন্সের ১০০% লাভ করতে হবে। আর যদি ৭৫% হারান, তবে নতুন ব্যালেন্সের ৩০০% প্রফিট করতে হবে শুধুমাত্র পূর্বের লস রিকভার করার জন্য। তাই আপনি যদি একবার বিরাট লস করে তারপর সেই লস রিকভার নিয়ে ব্যস্ত থাকেন, তবে প্রফিট করবে কে?
এখানেই চ্যালেঞ্জ। চেষ্টা করে দেখুন ডেমো অ্যাকাউন্টে ৩০০% অথবা আপনার রিয়েল অ্যাকাউন্টে অন্তত ১০০% প্রফিট করতে পারেন কিনা। এটা অতটা সহজ হবেনা। মানি ম্যানেজমেন্ট এই জন্যেই গুরুত্বপূর্ণ।
৩. ট্রেড করার আগে রিস্কঃরিওয়ার্ড রেশিও হিসাব করুনঃ
যখন একটি ট্রেডে লস করার সম্ভবনা প্রফিট করার থেকে বেশী, তখন ট্রেড করা থেকে বিরত থাকুন। সবসময় ট্রেড করতে হবে এমন কোন কথা নেই।
১. ৪০ পিপস লস vs ৩০ পিপস প্রফিট
২. ২০ পিপস লস vs ২০ পিপস প্রফিট
২টি উদাহরনই বাজে রিস্ক ম্যানেজমেন্টের উদাহরন।
একটি ট্রেড ওপেন করার আগে এটা নিশ্চিত করুন যে রিস্ক:রিওয়ার্ড রেশিও অন্তত ১:২ (১:৩ রেশিও বা এর থেকে বেশী ভাল)।
এর মানে হচ্ছে আপনার এমন একটি ট্রেডই ওপেন করা উচিত যেটাতে আপনার লস করার সম্ভবনা থেকে লাভের সম্ভবনা ততগুন হবে। যেমনঃ আপনি ৩০ পিপস লস করার পরিপেক্ষিতে ১০০ পিপস লাভ করতে পারবেন এমন ট্রেডে এন্ট্রি করাই বুদ্ধিমানের কাজ।
আপনি যদি মানি ম্যানেজমেন্টের এই রুলসটি সঠিকভাবে মেনে চলেন, তবে তা পরবর্তীতে আপনাকে সাফল্য পেতে এবং স্ট্যাবল প্রফিট পেতে সাহায্য করবে।
রিস্ক:রিওয়ার্ড রেশিওর নিচের চার্টটি দেখুন। এখানে ১:৩ রিস্ক:রিওয়ার্ড রেশিও নিয়ে ১০টি ট্রেড করা হয়েছে।
একজন যখন কোন ট্রেডে লস করে, তখন সে $১০০ ডলার হারিয়েছে। কিন্তু তার প্রতিটি প্রফিটেবল ট্রেডে সে $৩০০ ডলার প্রফিট করেছে।
সুতরাং, দেখা যাচ্ছে কোন ট্রেডার যদি ১:৩ রিস্ক:রিওয়ার্ড রেশিও নিয়ে যদি ৫০% ট্রেডেও সফল হয়, তবুও সে ভাল পরিমান লাভ করতে পারে।