Hi Rayner reading through, I come to realize without any doubt I am a swing trader, due to my full time a very demanding job which I would like to be knowledgeable and profitable with trading to catch a break. My question here is since I know what kind of trader I am and I like the trend following strategy, how can I create a trading plan that as I follow to the T, will give me an edge as u always say, in the market.
Within price action, there is range, trend, day, scalping, swing and position trading. These strategies adhere to different forms of trading requirements which will be outlined in detail below. The examples show varying techniques to trade these strategies to show just how diverse trading can be, along with a variety of bespoke options for traders to choose from.
Locating the trend: Markets trend and consolidate, and this process repeats in cycles. The first principle of this style is to find the long drawn out moves within the forex markets. One way to identify forex trends is by studying 180 periods worth of forex data. Identifying the swing highs and lows will be the next step. By referencing this price data on the current charts, you will be able to identify the market direction.
One potentially beneficial and profitable Forex trading strategy is the 4-hour trend following strategy. However, the 4-hour timeframe makes it more suitable for swing traders. This strategy uses a 4-hour base chart to screen for potential trading signal locations. The 1-hour chart is used as the signal chart, to determine where the actual positions will be taken.
The information on Forex Factory is sourced in from Fair Economy and relayed in real time. Micro movements are also monitored by the broker partners of the platform. Forex Factory follows standard candlestick charts of multiple durations ranging from 1 minute to 1 month. There are 28 forex instruments available to trade on Forex Factory that are offered by its different broker partners.
There is an additional rule for trading when the market state is more favourable to the system. This rule is designed to filter out breakouts that go against the long-term trend. In short, you look at the 25-day moving average (MA) and the 300-day moving average. The direction of the shorter moving average determines the direction that is permitted. This rule states that you can only go:

When trading forex, you always speculate on whether the price of the base currency will rise or fall against the counter currency. So in AUD/USD if you think AUD will rise against USD, you go long (buy) the currency pair. Alternatively, if you think AUD will fall against USD (or that USD will rise against AUD), you go short (sell) the currency pair.


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The MA lines will be a support zone during uptrends, and there will be resistance zones during downtrends. It is inside and around this zone that the best positions for the trend trading strategy can be found. Learn to trade step-by-step with our brand new educational course, Forex 101, featuring key insights from professional industry experts. Click the banner below to register for FREE!
Trade Explorer: A web-based interface that allows traders to monitor their trading activity. The Explorer maps all your trades and forms insightful graphs out of them. It uses advanced graphing technologies, auto-synchronizing, and equity/balance controls to manage risks and learn from past mistakes. It also helps traders understand their trading style and understand what works for them.
Hi Rayner reading through, I come to realize without any doubt I am a swing trader, due to my full time a very demanding job which I would like to be knowledgeable and profitable with trading to catch a break. My question here is since I know what kind of trader I am and I like the trend following strategy, how can I create a trading plan that as I follow to the T, will give me an edge as u always say, in the market.
When trading forex, you always speculate on whether the price of the base currency will rise or fall against the counter currency. So in AUD/USD if you think AUD will rise against USD, you go long (buy) the currency pair. Alternatively, if you think AUD will fall against USD (or that USD will rise against AUD), you go short (sell) the currency pair.
Forex trading, also known as foreign exchange trading or currency trading, is where an investor tries to make money by buying and selling currencies on the foreign exchange market. Most investors will follow trends and use strategies to optimise their return. This is a very basic definition that does not reflect the full complexity of Forex trading; our free workshops are ideal for people who are unfamiliar with the concept and want to quickly achieve an in-depth insight into how this all works.
Since forex is traded on margin, you only have to deposit a percentage of the full amount you wish to trade. Our margins start from 0.20%, which could be referred to as 500:1 leverage, as the value of the full position would be 500 times the value of the deposit required to open the trade. When trading on margin it's important to remember that your profits or losses are based on the full value of the position, not just the percentage you deposited, so you can lose more than your initial deposit. 

The MA lines will be a support zone during uptrends, and there will be resistance zones during downtrends. It is inside and around this zone that the best positions for the trend trading strategy can be found. Learn to trade step-by-step with our brand new educational course, Forex 101, featuring key insights from professional industry experts. Click the banner below to register for FREE!

You might want to focus on some type of data and ignore the rest: less noise means more efficiency. Click on the  button at the top of the economic calendar. You can type a keyword or select countries, dates range, event categories or impact levels. Then hit the “Apply” button. If you always need to see the same data when you come to our calendar, you can save your settings for the next visit! We said efficiency, right?
Day trading - These are trades that are exited before the end of the day, as the name suggests. This removes the chance of being adversely affected by large moves overnight. Day trading strategies are usually the perfect forex trading strategies for beginners. Trades may last only a few hours, and price bars on charts might typically be set to one or two minutes. The 50-pips a day forex strategy is a good example of a day trading strategy.

This is an exceptionally good strategy and works across all timeframes and for all currency pairs. This trending strategy picks breakouts from a continuation so as to help traders trade the retests. Candlesticks, pivot points, support and resistance levels and round numbers can be used when employing this strategy. Off-chart indicators are not necessary.
Day trading - These are trades that are exited before the end of the day, as the name suggests. This removes the chance of being adversely affected by large moves overnight. Day trading strategies are usually the perfect forex trading strategies for beginners. Trades may last only a few hours, and price bars on charts might typically be set to one or two minutes. The 50-pips a day forex strategy is a good example of a day trading strategy.

A combination of the stochastic oscillator, ATR indicator and the moving average was used in the example above to illustrate a typical swing trading strategy. The upward trend was initially identified using the 50-day moving average (price above MA line). In the case of an uptrend, traders will look to enter long positions with the old adage of ‘buy low, sell high’.
Many forex traders start with a simple trading strategy. For example, they may notice that a specific currency pair tends to rebound from a particular support or resistance level. They may then decide to add other elements that improve the accuracy of these trading signals over time. For instance, they may require that the price rebound from a specific support level by a certain percentage or number of pips. 
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