Forex Swing Trading

Trading on the forex (foreign exchange) is exhilarating! I've been practicing my forex entry and exits, and I'm becoming much more proficient at swing trading. At first I didn't practice much swing trading because my main focus was on learning the proper entry and exits, so I was scalping.

Now that I'm learning more about applying the Elliott Wave theory, it also makes swing trading a greater opportunity for profitability, with less profit loss, but it will take some time to learn how to recognize the forex market wave patterns. It's quite fascinating to say the least!

Scalping is the easiest to learn initially, but scalping takes a great deal of time to make the right entry and exits. Also, some brokers will not allow you to perform forex market scalping, so swing trading resolves that issue. If you plan to do scalping, you'll want to select a broker who is okay with trade scalping. However, keep in mind that swing trading is more profitable with less work and time at the computer.

Swing trading provides you with the ability to get away from your computer with peace of mind that your trade won't go awry, that is of course assuming you properly set your stop loss, take profits, trailing stops etc. I'm having fun learning the forex, how about you?

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