When I say “best indicator for swing buying”, I mean it. You have to be prepared for that. We will look at the best indicators for swing trading in short:
When you are trading your long position in a currency you have no plans for, like USD, you should start with your indicator of choice. These are not hard to find. Some of the best indicators are:
Forex Price Index,
Hover Charts ,
The Big Board , and
, and Forex Trading Tips.
What about Forex Bull-Shades? Should you still be on your long position? I want to remind you here that your margin requirements should still be very high. I have discussed this extensively in the posts I have written on Margin Requirements.
My point is, that all these factors together provide you with a good starting point for your best indicator when you have just started using it.
If you are not yet on a position to trade in a currency, the best indicator for trading is the one you already have. The reason is simple, once you have a currency, buying for it is easy. All you do is put in a $100 position and wait. When one of your currency pairs, which are the currency pair of your choice, is near or over a $10,000 mark, there is no stopping. You can put $40,000 (USD) into the position and wait it out without fear that the currency pair might get up, down or not trade at all. You have your choice.
So the next time your friend calls you a short-seller, you can take their advice. You could say to the friend that it will hurt your position if you do not hold on (the answer is yes, that’s exactly why). Instead, you could say that you’ll keep your position because now you have a better longs position. This is what I do every time the question is asked. I hold out $100 to invest and when it makes a big move above the $10,000 mark, I can see if it stays up or if it falls back or if it does not trade at all.
As you can see, there is a lot of other things to consider when making the move up, not the least of which is what currency pairs are currently over or under a certain total. But since these are all very easy to find, let us get back to the topic of currency
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