Forex Trading Strategy: Learn Swing Trading 1000+ pips (2018)
Hello everybody today I will tell you the Strategy 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 or returns before I start I get what is the most common mistake that you ever made when you are trading when you are trading 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 take the best trade in the world as said and you can just choke it okay and you can just take the worst trade and then you manage it so beautifully keeping risk to reward 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 EURUSD 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 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 an 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 strategy 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 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 a year trader and I'm still holding will i still hold? if the market is dropping yes of course yeah does this drop panics me of course not! I have seen a drop of like five hundred and twenty let's suppose five hundred pips so how about this drop this drop is just four hundred and fifty pips so what have happened okay I saw a drop of 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 pips lets say 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 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 ! so it has already retraced 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 highs here here here and where they're going they're trying to go lower so this point, 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 price 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 where the industrial buyers big buyers are putting their orders in but we are safe traders we don't want to be the first one into the party ok because we are not industry we are just individual traders okay so we have a range okay we have a range here they have rejected the highs many many times here there you go here there you go we have also range lows okay in the range what do we do let's suppose if we have a range okay we have a range the price moved really aggressively to the downside okay and then do we buy the low exact no of course not we can't just buy here this is way to 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 highs got rejected here okay they got 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 again 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 sell the high sell the high okay buy the low 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 spike goes back spike 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 handle in order that thinking or hoping that it will hit euro will hit one point zero zero okay so 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 to our buying territory this is our buying zone price comes back to our buying zone they 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 highs 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 failed to close failed failed okay and then here also they failed they came back you know what the buyers are doing industrial buyers especially okay they are buying down here okay and then they are coming higher they're booking their profits that's what happening here they are booking their profits okay and in case if they don't 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 Euro 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 Area 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 is acting as support same thing we see here the price drops aggressively they came they come back to test it okay they came back to test it failed to close and then another push to the downside one more leg okay so now this thing is now a resistance the failed they failed a couple of times and now we are seeing a close for the first time in history above our support or resistance level here we see finally a close 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 where is 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 candle 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 always 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 buy here okay my buy is here I took the Buy 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 weekly chart my stop is here 400 pips is my stop okay so do we have enough room we will see this swing we have like 250 and in case since 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 mine was still holding handle for a handle 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 this swing high plus the EMA the 200-day moving average so this is the only thing and then what happened next week skyrocket they closed above 200 okay what is the next hurdle the next hurdle is swing high they 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 failed 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 test it fails I want to see a close ok so the price close 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 forex so it's pips so I have already achieved four hundred pips so now I can move my stop to break even ok I don't want to see this thing coming back failing at the highs 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 ..what happened then the price moved higher price tested one point two zero handle 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 pips range so this is again thousand pips range exactly same to same if this by chance of course not traders are keeping their eyes on it so we have thousand pip range okay we get the point 940 and then from here we have again a thousand pips range and we have a retracement of maybe 500 pips so we expect a five hundred pips retracement then again we can talk it a 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 out if i 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 dont 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 Morning star whatever you guys want to say it but I would I would not never say it 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 above 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 week high 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 they 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 pips on this week like January 2018 I hit my ...my eight hundred pips and then price moves like thousand pips 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 i am expecting a buying zone somewhere between actually 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 handle and the break of this area break off our strong support and resistance area same thing what happened here lets see we have again strong support or resistance we have rejection of the highs 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 EURO 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 right time you might get like ten trades in one year maybe five trades in one year but that one trade or that five trades we'll be equal to that trader who is trading hundred lots in one year or you will be gaining more the trade traider 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 Euro if you are buying sorry if you have a buy it in my case I have a buy I'm expecting Euro to go higher and I'm expecting the dollar to drop sorry about this to drop okay so now I'm expecting your to go higher so I am favoring Euro right so I have a favor on euro so euro 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 - 2 short short swaps are 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 right place a stop right stop 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 part okay things I got my t1 t2 where should I exit the t3 or t4 t5 okay I will exit the t3 maybe at the highs maybe you know I know now that we have a strong resistance area coming in to play so I have to look at least book something here right also we know that this is range expansion 100 pips here sorry 1000 pips here 1000 pips here so 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 then come back around I have achieved the first phase now starting now this is the starting of the second phase okay now they started to move in daily wedge okay or weekly wedge sorry that's a weekly wedge 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 time frame 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 goes here okay so new high new retracement 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 as said 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 should i so initially my stop was for under 200 day moving average but I just put it way under the price way far from the price because I'm expecting a 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 let the price do it thing let the market do it thing whatever it is doing you wanna book profit here ofcourse 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 support got broken rising 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 rising 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 RSI okay okay RSI finally starting to go higher so that will favor us okay so what is where is MAC D 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 EMA 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 1.2098 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 week will go I have still buy at 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 GBPUSD 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 supportatforextradingcity.com and I will definitely reply you guys so be a discipline trader 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 seeing that this is what you have to do and then when the opportunity is there just grab it 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 see you next time bye bye.
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