5 Ways to Make More Money Swing Trading
One common objection that people have to Swing Trading is that they think that they won’t get enough trades to build their account. Of course, this is nonsense. If you understand your options and implement the right strategies, you can make more money. But you have to be smart about it. In this post, I’ll give you five ways that you can make more money with Swing Trading.
- Some trading methods don’t work well with some currency pairs. So don’t assume that adding systems and/or currency pairs will automatically lead to increased profits.
- When people hear about Swing Trading, they usually assume that you are trading on the daily charts. But I have found that the 4-hour charts offer the best balance of not checking your charts too often, and providing ample opportunities to find good trades.
- Once you have your fixed fractional risk under control, it’s time to look at your correlation risk. For example, if you are you trading too may pairs that contain the British Pound, you are compounding your risk if the market moves against your positions.
“Ideally, you should find a method that is not similar to your current system. For example, if you are trading a trend following system, you might want to look for a countertrend system or a breakout system.”