Forex Trading Strategy: Learn Swing Trading 1000+ pips (2018)
Hello, everybody today I will tell, you the Saturday, how, to manage, your Forex trade, or futures. Or stocks or any other trade okay that involves, price action trading, okay. To maximize. Your profits our returns. Before. I start, I get, what is the most common mistake that you ever made in your veneer trading when you are creating when you are on the desk what is the most common, mistake. That you made. Most. Of the times I get the email saying you know what Ali I, am I. Have. Taken the best trade in the world but you know it stopped, me and then it went higher and it moved like hundred and two hundred pips so what, is the wrong thing that you are doing how. I am, managing, my swing, Forex trade. That. I can assure you so, today I have I have, a great, example on, euro. Dollar. The, most important, things when trading forex market, is that you have to be a disciplined, trader it's all about the trade management, you can trick the best trade in the world as said and you can just choke it okay, and you can just take the world's trade and then you manage, it so beautifully, keeping. Risk to the world in your mind okay in your favor and then. Get. Out with the with the profit okay, so, today I have a nice example on your USD, it's again a Forex, pair let, me zoom out a little bit. First. Let's switch to weekly, chart on euro. Dollar this. Okay. I took this trade on 14th, of July, right. Here, okay. Right. Here is my entry and. The. Chart you are watching in front of in your in front of your screens is a. Weekly, chart so, I've been holding, this trade for and about its, new year its 2018. And, now. We have, almost. Let's. Say nine and a half months, into the trade I am holding the trade. Definitely. I will share my steps, but. One, by one what start, see I use, for. Swing trades to, maximize. My profits, because. Forex, trading is such a beautiful, thing that if you are a discipline. Trader, okay. If you, are a disciplined. Trader market, will pay you the. Market will pay you huge. All. You, have to do is keep, your nerves okay. And be. Disciplined, trader. Now. The question, arises okay. That how to be a disciplined, trader. Alright. How to be how, to manage, it for it for like how to wait for nine, months it's almost we can call it a year now after two three months it will this trade will be an ear, trader and I'm still holding, I realize, still hold if the market is dropping yes, of course yeah, does, this drop panics me of course not. I have. Seen a group of like five, hundred and twenty. Let's suppose five hundred pips so how. About this drug this drop is just. Four hundred and fifty pips so what, have happened okay. I. Saw. A drop off what. Do you call it. Five. Hundred pips but. Again, I saw. A gain of hundred, pips a thousand, bit sorry, this. Time I'm watching a drop off I don't know maybe it, might drop more maybe. 500, people Etsy the game okay, so, I I might expect, one. More push to the upside, okay. Maybe, here. And, I. Might exit. Everything, out here so, where to take your profits, out where, to take your stop-loss where, to manage your mitt risk where.
To Put your stop-loss maybe, if I will be way, aggressive, I will be stopped out here I will. Say you know this is 200-day. Moving average. Blah. Blah blah you know this is this has closed, under. The. Moving average okay, so I'm gonna take a loss I'm gonna take my my, position out it, has already retraced. More, than 50 percent. Sorry. About the color this color looks so ugly. Okay. Sweet have already, drift like. 23.6%. Left. Back. To zero so. Should I take it out no I, managed. It I keep. My, nerves okay. So. Same thing you have to do first. I will disclose, why. I took this, trade on euro dollar okay. And how. I managed. The same trade for. To hold on to like ten months. So. Let's get started. Huge. Sell-off on Europe if it zoom out a shot a little bit we, can see huge. Sell-off. For. Almost, a year okay, huge, sell-off and then after this sell-off. What happened the, Euro started, to move in a range. How. At this point of course, we will never know if this. Thing is going. To be, arranged. No, of course not but yes when, we will be able to know we, will be only able, to know if this, thing is range maybe, here. Ok, when we see that this price is rejecting. The highs every. Single time they rejected the eyes here, here. Here. And, where. They're going they're trying to go lower. At. This point at this type of point. We. Know this is a range you can draw anywhere we, have a rising support, from higher time frames maybe to monthly level okay, so, we. Have we. Have, rising. Support. We. Know the price might, stop here try. Stopped here quickly. The snap ler dropped new sellers, skyrockets. Back, to the highs right. We. Have plenty, of touches, in this it that they, might stop here as well. Right. This. Is the time okay. We're the industrial, buyers big, buyers are. Putting. Their orders, in but. We are safe, Raiders, we don't want to be the first one into the party ok because we are not in rusty we are just in do jewelle trailers okay. So, we have a range. Okay. We have a range here, they. Have rejected, the highest many, many times here, there, you go here there, you go we, have all the range lows. Okay. In. The range, what. Do we do. Let's. Suppose if we have a range okay. We. Have our range. The. Price, moved. Really. Aggressively. To. The downside. Okay. And. Then. Do. We buy the low exactly, no of course not we can't, just buy here this is way too aggressive to, buy. Okay. What, we do we wait for the confirmation the, price goes back up okay. The price goes back, up to, the, heist got. Rejected here. Okay. They guard the rejection here the, price drops, again back. To the lows. So. Do we buy here of, course not at this time we don't know if the price is going, to, drop. Further or if that's. A range that can be just double double. Bottom and, for. The third time the, price goes, back to the highs and then, a king closed fails, to close above and then, comes. Back down, that point, we know okay. If the price is coming back down we. Know this is a range. This. Is a range so now I can look for buying, opportunities. Over. Here. This. Can, be my buying opportunity, industrial. Buyers they'll. Be buying down. Here, okay. And where. Will be they're selling they'll be selling the top. Right. They'll. Be selling here in range, sell. The high. Sell. The high so. The high so, the high okay buy below. Okay. So. This is how you trade the range. Okay. So coming back we, have nice. Buying, opportunity, down here. Many. Many spikes. Spike. The price comes down okay. Price. Comes down. Spike. Goes, back pipe goes back spice goes back so at this point we know that they are losing those sellers, who've, been selling this market, ever since they are losing the hope that this price is going to fall I know.
Some Traders who've been selling. 1.20. Handle in order that thinking. Or hoping, that it will hit euro will hit one point zero zero. Okay. But, that's different part of the story and. Now. We. Have rising support, here way, before it got broken they they, closed under, it. Okay. They closed under it the. Price came come back over. To our buying, territory. This. Is are buying zone price. Comes back to our bank zone that, makes a new, high new, lower high there now the price what the price is doing the. Price is continuously. Making. Lower. Highs. Okay. Price, is continuously, making, lower highs one lower high here lower highs here and then, we have higher highs higher highs. Higher, higher. Lows higher, highs, higher lows, but. Now since. I am creating. A range right. And zoom. Out. They. Have failed, so far to, close any. Weekly. Bar above this, strong. Level. Right. They, came back of course they came back, failed. To close fill, to close filled. Failed. Okay. And then, here. Oval they failed they, came back when you know what the bars are doing industrial, buyers especially okay, they are buying down here okay, and then they are coming here they're booking their profits. That's. What happening here. Yeah. In their profits. Okay. And in case if they'll all have the faith in the trade they'll. Book their profit in in in, and and if they have faith, in the trade, okay they. Will keep it keep, it go go, go. Okay. So. We have nice gap as. Well. On Europe I don't know maybe like 50 60 people not 50 maybe 100 200. 170. Points pips gaps, on euro dollar okay. So. They. Fail, to close. On, in, our this, horizontal. Support. And resistance area. Okay. What, is support and resistance Ariel for example, if this is a strong, support, or resistance okay. The price comes. Drop. Drops sorry the, price drops. Aggressively, okay. Now, this, is a support. If. The price is up here, this is support, it. Drops. Comes. Back, to test it, okay. Now. This, thing has become a resistance, now so. Now you look for selling opportunities. Same, thing okay the price is, going. Higher okay. Price is going higher price, comes back. Around. Okay. Price comes back around. Okay. Now this thing has turned before it was resistance. Now. This thing is support if, acting. Is support, same. Thing we see here the, price drops. Aggressively. They. Cam they come back to test it, okay. They. Came back to test it failed to close and then another, push to the downside one. Little more leg, okay. So, now this thing is now a resistance, the. Field they failed a couple, of times and now, we are seeing up close for, the first time, in history. Above. Our, support. Or resistance, level. Here. We see finally, our clothes right. So what do we do, so. We've, definitely loved to buy how. Many weeks it has been they haven't closed. Since. 2015, and, we, are in 2017. The. Price failed to close they. They, had multiple. Attempts, to, break but they every, time they are falling. Apart for. The first time in history we had, not. History, but you know in. Maybe two three years that. We see finally. A close above so what we do we come back to daily chart. Okay. It's. The entry today, the market is closed so I don't have to scroll otherwise the chart will move back and forth okay. So this is our entry Kanpur 14th. Yeah 14th okay, this, one. Right. Here. As. Soon, as of course there is a close you, guys. Might think there is a close daily. Close as well okay. So, why haven't I bought there. Because. This might be again a fake break out what. Happened here while, you are not paying attention to the weekly chart we, have a break. Here. Right. And what, happened if they, even went higher. The. Trap new buyers. And. Then. They are coming back, down to, complete the cycle, of the rain so, that's why the weekly. Chart high, timeframes. All these rocks the swing that's the beauty, of the swing forex, trading that. You have to watch a chart on weekly levels, on higher time frames so, that you don't you, avoid doing mistakes. Okay. It's, tough to be disciplined, it's tough to wait but, yes so, you get down to see if, this weekly if. This, weekly candle, will close, above. This, horizontal. Support or resistance area.
Finally. They close it and then, we can move to daily chart to take our entries. The. Daily candle maybe like I don't, know maybe at. Since, I live in Dubai so. For. My time this candle will close around one o'clock or two o'clock in the night depending. If they have a day saving time or whatever. So. I I can't wait so I will just wait I'll just put my buy order, maybe the candle will close or not so I I just took a bar here okay. My. Bar is here I took. The BAI. Where. Is my stop then. The. Most important, question, there, is my stop, is there enough, room to, target. What I am going to risk, this. Is the most important, question in trading. For. I have a bar here I. Have. A stop of four hundred pips. My. Stop goes under, the. Previous week low. Since. I'm trading with a chart my. Stop is here. 400. Is my stop, okay. So. Do. We have enough room, let's. See this, swing. We. Have like 250 and inque thinks, this is these. Sellers will, be taken out because. This is huge, huge. Sell-off okay, and those, traders they might be holding as said a friend, of - was still holding. 1.20. Handle fora. 1.11. Handle it nafta he never achieved one. Point one point zero zero sorry. Okay. So. Those big. Industrial. Sellers they're holding on to it, okay. And then finally. When we see a closed, for the first time. Above. Our horizontal, support or resistance area. That's, a good sign for us the, only thing that I see here can, be. If. The, swing high. Plus. The EMA the, 200-day, moving average. So. This is the only thing and. Then what happened next week. Skyrocket. Take low above 200, okay what, the next herd of the next hurdle is swing hi he, closed above. Ok, back-to-back bulls bar Wow. Two, weeks done. So let it and now I I start to build faith. In the trade that, this trade will, work why, we, had a swing. Filled. We. Have 200. Immediately. That was my hurdle, they. Closed above that's why the close is important, not the test ok, the price comes back test, it fails. Comes, back there sits fail I want, to see a close. Ok. So. The price goes above 200. Price closes. Next. Hurdle. That is swing high over, here sorry. Over. Here and, then. Now I feel, more, faith in the trade that it might work so, now I can, move my stop, if. I, want to break even. Ok. Because I I have seen enough I have taken my profits, out from the trade already, ok. How much was our risk 400, points we have already achieved 400. Points here, sorry. It's for X so it's pips so I have already achieved four, hundred pips. So. Now I can move my stuff, to. Break even. Ok. I don't want to see this thing coming, back. Failing. At the highest like what it did earlier, okay, I don't. Want one, more push to the downside. Ok. So, this if the whole scenario, now, in front of my mind, so, should I except. And then the price moved higher price, tested. One point two zero and low okay, and then. They started to retrace, some. People started to say this is a trend changing, and we are cycling, back to the lows. Because. That's what the. Range traders, will do right if you are selling here, ok the. Price goes more. High you. Sell more, to send it back.
Right. So, that at this point when they started to break this rising, support level. Okay. They started, to say you know this is a, reversal. Now we are cycling, back to the range so, actually, this is range expansion. Okay. This. Is just a range expansion, this is the original range so you just copy this and paste it here maybe. Here so. This is one range and that is second range the third range will be again back to the highs that. We. Can count even so this is like, thousand, people inch so, this is again thousand, bits range exactly. Same to same. If, this by chance. Of course not traders, are keeping, their eyes on, it so. We have thousand. People inch okay. We. Get the point 940, and then. From here we. Have a game a thousand. Pips and, we. Have a retracement, of maybe. 500, pips so we expect a five hundred pips retracement, then again we can talk it out range expansion that's, different, scenario. That. The, range trading I will cover that one in the next videos but. For now this is the, swing trading okay so. Swing trading you. You, don't place your stop way too close. Otherwise. You'll be stopped out I'll be stopped down the final place here right I'll be stopped out you know I'll say you, know what this thing gonna, fail as. Expected. They have a closed under. Same thing under. The 200, okay. That first, it was hurdle, you remember. 200. Was a hurdle. They. Closed under. Okay, and then they have now. They are coming they're cycling back so, they might test my entry point so, it's okay let them test my entry point, don't. Panic don't freak out if you, have a stop here take, the stop call it a deal. So. Dude put, your stop-loss, way. Too close, to the price, okay. And then what happened after two three weeks we have like twin, reversal, we have, evening. Or Morningstar whatever you guys want to say it but I would I would, not have never, said evening or morning star because, we have like one, candle in the middle of the, week. Okay. And then, more. Away it's not happening in the top at the top or at the bottom so. We have nice structure, here we, have a trendline resistance.
Coming In. We. Have support, coming in, okay. We have a nice close finally. Here. We. Have a nice closed buff and then again, we are continuing, right. We, are continuing so now I can move my stop from where it was breakeven. Oh sorry, from. Break even to. The previous swing low now, we have a swing low this, is known as a swing low okay. So. Now I move my stop to the swing, low, got. It so. This is my stop the, price goes price is here. One. Week to week three four five six weeks six back-to-back. Closes, above the highs so. Closes at. The highs near, the highs close. Makes. A new high okay. But, then again comes, back around, closes. Above, the previous record, this is good for, us because, what, I want to see is price closing, above, from where it opened, okay. And if it is it, is closing above the previous week high that is even more good better okay. And then, we, have resistance. Coming in from higher time frames the price started, from here so, we can name it an X. Okay. You, can call it X sorry you. Can call it X price, starts it from here they, stopped here and then. There is higher probability. Again to stop here and, notice now that, they haven't a the aren't able to close now above. This. Resistance, area. Moreover. We have like. Trendline. Resistance, from monthly level, from. Monthly. Level from like 2008. 2014. And 2018, now, okay, that, this thing can turn down. So, weekly level where, my stop my stop is still sitting at the previous swing, low I. Want. To give it a maximum room. That I can of. Course I have taken my profits out for. Example my my risk was four, hundred pips so first I take four hundred pips out okay. Now my. Trade is, one to one I have gained what I had risked, so. Now my target will be eight hundred pips. There. You go I hit, my eight hundred bucks on this week, like. January 2018. I hit. My tutor my. Eight. Hundred pips and then, price moves like, thousand. Dips. So. I have gained eight hundred, plus four hundred how. Many there one thousand, and two hundred pips, already, from the trade and now. This is my bonus my, runner let. Let, it run how. Far this can go I was I'm, still expecting of one more push to the upside okay. We expecting. A buying zone. Somewhere. Between, actually.
There Here okay, anything here, looks good I've I. Haven't. Placed my buy orders here because I was looking for a trap, back. To like one point two zero and the break of this area break off our strong, support and resistance, area same thing what happened here with E we. Have again. Strong. Support or resistance, we. Have projection. Of the highest rejection. The, price close never comes back to test it and now that we are testing it so. That before it was resistance. And now, it is support. Right. And, now we are seeing, some bullish, momentum from, the buyers on your so this thing can definitely. Skyrocket, back to, one point two three handle but at least back. To, mid. Of this range you can call it like one point two two, so. This will be for day trading not for swing trading for. Swing trading you, have to wait for, night time you might get. Like. Ten crazy in one year maybe five trades in one year but, that one, trade or that five crates. We'll be equal to, that crater who is creating, hundred. Lots in one, year or. You. Will be gaining more the. Great Raider will be paying spreads commissioned. Every. Single thing of course in this, swing. Trading you only have one disadvantage of the, swaps so. I. Have a swap for like $300. Now, so. You have to make, a deal with your broker. Of, course there are some swap free accounts, as well you can look for look, into them. If. You are swing trader you can make, sure that the, swaps. Are in your favor okay. So, if swaps are in your favour you, can even look. For more. Quantity. You can hold on for more longer period because swaps are filtering, you in. My case euro dollar since I have a buy on euro and have shorted, US dollar this, this is how the forex, market works if you have euro dollar this means like. If. You have where is it. Euro. Dollar. Okay, and, this. Means you, are selling. The. Europe if. You are buying sorry if you have a buy it in, my case I have a buy I'm, expecting. Europe, to go higher. And I'm, expecting, the dollar to, drop, sorry. About this dude, drunk okay, so. Now I'm expecting, your to go higher so I am favoring, Europe. Right. So, I have a favor on euro. So. Y'all have negative, swaps because I am buying euro I have to pay the swaps. So. You can discuss, this with your broker you can ask him or they have a whole spreadsheet, you can even look in the empty for section, in Euro. May. Be, specification. You, can see how much they're charging swaps, like long swaps, are - - short. Short, swaps are. 2.45. Okay. Three days swap so every. Wednesday. Whatever. So every broker have different, stuff on this one, so. So. That's how you manage, you wait, okay. You, wait you put your stop at write paper stop, a write stock placement, initially. My stop was here. When. The price moved higher, okay. When I got my t1, or t2 whatever, okay. I moved it to break even. Now. If the tough tough. Spots. Okay. Things. I got my t1 t2 well should I exit the t3 or t4 t5.
Okay. I haven't existed t3, maybe, at the highs, maybe, you know I've I know now, that we have a strong. Resistance, area, coming in to, play if, I have to look to. Please. Book, something here. Right. Also. We know that this is range expansion 100, pips here's, 3000. Pips here 4,000, PBS we. Call it a deal thousand. Pips. Okay. So. Where, do I place my, stop, then because, when the okay this this, phase when, the price moves higher and, they come back around I have achieved the first phase now, starting, now this is the starting, of the second, phase okay, now. Decided. To move in daily wedge, okay, or weekly wedge sorry that's a weekly veg and. Then. They moved higher so that's okay I can move my stop here they moved one more high if I'm trading it on a daily, chart remember, this stop will be. Depending. On the. Daily chart, okay. If you have a date with the timeframe that you're trading if you have a daily trade, then you take, it on a daily chart okay. You move you manage your stop on daily. Levels. Okay. If your trade if you have taken a trade on weekly levels then you manage it on weekly level, okay. So we have a new high the. Stop goals here, okay, so new high nutrient. We have new high here alright new, retracement, here then I move my stop here. We have a new high, okay. Now. I've booked my profit, why. Fat. I'm expecting, a reversal, from this point from. This trendline area, trendline. Resistance, area we. Have nice rejection, here they, might reject here as well and I. Don't want to sit in the, pain of like 500 and 600, pips again so. Better to take out my profits. So. Taking my profits, out here makes, sense right, now where is my stop my stop goes under here okay. There, is a rising support, now. So. Better, to put it under right. Let. Me draw it again so, rising support. The. Stop goes under, this, rising. Support. We. Have horizontal support. We have buying area, buying, zone at, you. Can call it like one point to zero so this is the buying zone, so. Expect. A bounce from here so select, so. Initially. My stop force for, under 200, day moving average, but I just put it way. Under. The price way far from the price because. I'm, expecting, one more leg to the upside. So. It's all about the trade management. Discipline. Wait, for the right time wait, for the. Wait. For the resistance, area wait for the support area to let the price do it thing let the market do it thing whatever it is doing you, want a book profit here you of course you can okay. I am. I will. Not take the profit here we have nice. Huge. Rally to the upside with this this thing might have a leg to the upside one more push okay. And the best thing to take your profit out if only, I can see at the resistance, area now we are approaching. Into. Our buying zone you, can say that again same, scenario, we. Have rising support, we, had a rising, support. Rising. Sport got, broken. Reading. Support got broken, okay. And then. Now in. This one we had like support, support support let's, see if we can find support here as well, no. Not nothing so far so, we have we have still like enough, room like hundred pips for the price to go and. Then we can look for buying opportunities, here as well so that's why that's a buying zone so, same to same pattern, structure.
Same, Structure, this is the same structure same. Structure. Is, happening, here we have rising support. We. Have rising support. Driving. Support got broken. Okay. Rising. Support got broken. Okay. And then. Now same. Thing we had this, one I have to calculate maybe, we have 500 pips of the retracement we. Have like. 460. So almost five hundred pips of the retracement same thing okay, everything. Is pointing, to the upside we. Can also draw, our. Side. Okay. Okay. I say. Finally. Starting, to go higher so that will favor us. Okay. So. What, is Mukti. Okay. So. Still. Like, selling momentum, but, nothing. No divergence so far everything. Looks okay. But. MACD. Looks bad, okay, doesn't. Look good to buy so. But. These. Indicators, are laggy as you know. Okay. So we can look for buying, opportunity. At this area around 200-day, moving average. EMS, or exponential, day. Moving average, and we, have a support. We. Have our support. Buying, a zone okay. We have our rising. Support, broken, and then, we have horizontal, support as well so, many thing pointing, up same. Same. Level, here. Okay. So I, wanted. To have in a. Conservative. Entries so maybe around one point two to zero to nine eight this one looks good to me the price came back maybe maybe, missed it by like 10. Pips. Nevermind. We'll see how the next wheel a week will go, I. Have, still buy at one, point one four handle I'm still. Making like. 600. Pips already on the runner on the target. For five forever you can say I have already achieved my, targets. On this euro dollar pair and then. Next week on the next video I will share pound dollar because I have also, also made, like thousand, pips I don't know if I had already made but I don't know if that was a, long, video so sorry about the long video hope. You learn from this video and they, do let me know in the comment section, or you can email me directly at the, support, at forex. Trading. City calm, and. I will definitely reply you guys so be a discipline traitor wait for the right opportunities, okay, and then when there is a right opportunities, go all in okay. Go. In with your maximum, because right, by, that time when you are waiting, for the opportunity. According. To your trading plan you, are saying that this is what you have to do and then, when the opportunity if they're just grabbing, and, that way you will have more faith in yourself more. Encouragement. That yes this, is what I was looking for this, is what I have gained and now, I have the opportunity to. Grab it so grab it and then enjoy, your life, thank. You so much for watching it so, seeing. Next. Time bye bye.