Today, we have a special treat for you… a video review for the Keltner Bells swing trading system! I made a short little video for you all to enjoy, check it out, and be sure to check out the Keltner Bells swing trading system!
If you have looked at day trading on the Forex market, you may have found yourself
confused at what this means. Day trading on the stock market is easy — the stock market
opens in the morning and closes in the afternoon. During that time, you will trade stocks
and shares. On the other hand, the Forex market is open continuously for 5 1/2 days a
week, because it is traded around the world.
The best way to interpret day trading in this context is to identify it as sitting at a
computer terminal and buying and selling currencies actively. Thus a Forex day trader
might actually be an evening trader in the USA, but a morning trader in Australia.
This is the great advantage of trading Forex on the Internet. If you have the stamina,
you are not even limited by having a day job, as you can trade after work. You will need
to realize that the market behaves differently depending on the time of day.
Day trading requires a great deal of concentration and an uninterrupted environment.
There are many Forex courses online that will help you master the basics. However,
when trading on these time frames you must realize that it is the most informed,
most quick-witted traders that consistently make a profit. Much of Forex trading is
speculative with losers corresponding to winners, and only a few percent of the market
is for commercial currency conversion purposes, so education is key.
You should learn the common candlestick patterns if you wish to take advantage of the
amount of information that they can tell you about the market. Often, the length of the
candle body can be used to set targets or stop loss points, and the patterns themselves
tell you when to enter the trades that your indicators are saying are becoming imminent.
Much of the faster trading happens using a one minute or five minute charts. The idea
is that the trader will see a price moving strongly in one direction, and quickly buy in
to ride the momentum. An alternative but more difficult approach is to try to assess a
turning point on the graph, so that you can buy at the lowest price and sell at the highest
– the dream of every trader, but almost impossible to implement fully and consistently.
Anyone who is serious about trading for a living will rapidly realize that they have to
become fully familiar with the technical indicators that are available for the market
they are looking at. Some of the simplest indicators which are still a reliable tool in the
right hands include the family of moving average curves. These may give instant visual
reference for a price target, or their crossings may signal buy or sell triggers.
Other methods of finding price targets include visually examining the charts,
particularly if you can pull up a chart with a longer time span and check on historic
peaks and troughs leading into the formation that you see. When day trading you need
to be able to assess several different factors at the same time so that you do not miss too
many opportunities, and a sound grounding in the fundamentals of online trading will
alert you to the patterns that you need to identify.
According to Investopedia swing trading is:
A style of trading that attempts to capture gains in a stock within one to four days. Swing traders use technical analysis to look for stocks with short-term price momentum. These traders aren’t interested in the fundamental or intrinsic value of stocks, but rather in their price trends and patterns.
Naturally, as traders, we want to make the most out of our time trading to achieve as many wins in what time we have to trade. Some of us enjoy sitting in front of multiple monitors watching the markets and taking in all the action for the whole day. Me? Not so much. Which is why I was excited to try out One Day Swing Trades.
The name of the product itself enticed me. If swing trading normally takes between 1-4 days, I’ll be sure to find a swing trading strategy that leans closer to the 1 day. Truth be told, I was skeptical as to believing whether or not this system would perform. But I was sure amazed at how it holds up.
The forex swing trading system really lives up to its name. After going through the straight forward training – it really is quite simple – what you end up with is a method that implements some simple, but powerful rules that put you in a position to take some risk-free, high-yield trades. And did I mention how quick it is? One day pretty much sums it up, but 10 minutes a day is more like it. I found that after learning the training and the system, I could get my set-ups in, in around 10 minutes a day, set them before bed and let the system and the market take care of my trades overnight. It’s unbelievably easy.
Another great aspect is the access you get to the internal blog, where you get to see some tips, trade setups, and more right from the developers and coaches of the system. I highly recommend One Day Swing Trades for anyone who wants to take their time back from trading and is looking for a simple but powerful system to do that.
Many newcomers to Forex trading online study some books and courses, and then
plunge into active trading. Of course, most people would advise paper trading first
on a live Forex account, and this may well be part of your preparation before trading
for money. When you start you may think that you will remember and learn from
your trading experiences, but you will find that soon the trades become blurred into
one another You really won’t remember whether it was the MACD or the RSI which
signaled “overbought” when you traded on the SMA5 and SMA6 crossover, and yes,
becoming familiar with this traders’ jargon is just one of the aspects you will learn.
How will you ever improve your performance? It is a fact that no one has a perfect
system, and that it is in the nature of people to continually tweak what they do to try and
improve. As the market will never give you truly consistent results, your aim as a trader
should be to make your wins bigger and/or more often, and your losers smaller and/or
fewer. To modify your system on the basis of the last trade, and in the emotion of the
moment, will generally be found to be an exercise in futility.
As you may have guessed from the title of this article, the answer to this is to keep a
detailed journal of your trading so that you can go back and see what has worked best
in the past, and compare systems. I do not know of a successful trader who does not
keep a good record of his performance, and review it periodically to look for room for
Your journal may be kept on computer or written in a diary, but I find that a quality
leather bound book is best, as it encourages you to keep neat and comprehensive
records. These should include not only the numbers of the trade — your entry, price
target, stop loss level, and the final result — but also your reasoning for entering the
trade, with technical indicator values, and your feelings towards it. You will find this
information invaluable when you take time to look at possible improvements, as well as
being extremely useful when preparing your tax returns.
There is another side to keeping a journal which is again valuable to help stay in the
black in your trading career. In your Forex trading education you have probably come
across the idea that psychology plays an important part in trading. Until you trade Forex
live online, you may not feel that you are vulnerable to deviate from your plan because
of your emotions. Once you have known the thrill and disappointment of trading with
real money, you will understand much better the dangers of allowing your emotions to
guide your actions.
This is where the journal becomes more important. If you are noting down your actions
and feelings for each trade, you are able to identify positions in which you become
likely to trade with your emotions and deviate from your trading rules, and you are also
less likely to do this, as you have to answer to yourself for a bad trade on your review.
I advise that you allow at least 24 hours to pass before reviewing your trades, so that
you can look at them objectively and without the attachment of the emotion that you
experienced at the time.
Welcome to my Keltner Bells Review, your source for reviews of the top forex day trading and swing trading systems, courses, strategies, and tools. Stop by daily to check out the latest posts, where I sort through all the muck of courses offered online and give you the low-down on the best systems!