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Simple FX Trading System – An Easy to Learn Trading Method for Big Forex Profits!

Simple FX Trading System – An Easy to Learn Trading Method for Big Forex Profits!

In this article, we will look at a simple Forex trading system which anyone can learn quickly and apply in 30 minutes a day, to make big profits. The method we are going to look at is a simple FX trading system based on swing trading.

Swing trading is based on trading short term price spikes which make the market overbought or oversold. The Forex swing trader then looks to trade into these levels and makes a quick profit as prices return to more realistic value.

Take a look at any chart and you will see short price spikes which occur and you will notice they don’t last long and the reason for this is they are generated by the emotions of greed and fear which push prices to far up or down and then, as the emotions subside prices come back to fair value.

You will see this scenario happen all the time and your aim, as swing trader is to sell into greed and buy into fear. Now we will look at a simple FX trading system which will help you do this. We will look at an example in a bull market but of course, the same logic works in a bear market too.

– Look for a short sharp rise in price which is in the direction of the trend but is moving too quickly

Check how overbought the market is in historical terms by looking at some momentum oscillators and they will show you visually how overbought prices are. There are many indicators but the best for swing trading are the RSI, MACD and stochastic and there very easy to learn so look them up.

– When you have prices overbought simply wait for momentum to turn down as the price of the currency continues to rise. This is known as divergence and is telling you, a turn down is due so go short.

– Put your stop above resistance and set yourself a downside target. The target should be just above a level of key support and take your profit BEFORE the support level is tested. The reason you get out early is to avoid a rebound from support which can erode your profit.

– Always keep in mind the more overbought the market the bigger the fall, so make sure you are selective and only trade market extremes. You will get one or 2 good swing trades a week in the majors and that’s enough to pile up triple digit gains.

So above you have a simple Forex trading system which is easy to learn and fun and exciting to apply. Anyone can learn to be a Forex swing trader and its one of the best ways to make a great second income so discover swing trading and enjoy, long term currency trading success.

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