If you are a forex swing trader, one of the big questions you will face is “how can you effectively lock in profits and trail stop your trades?”
Let face it…
We all want to extract as many pips as we can out of a swing trade, right?
But not many know the effective ways on how to do that.
Relax…you just got lucky!
In here, I will show you 4 effective swing trading tips on how to lock in your profits and trail stop your trades.
You will learn how to use the parabolic SAR, the Average True Range (ATR), the Swing Lows and Swing Highs as well as Price Action to lock in your profits and trail stop your trades.
Here we go..
SWING TRADING TIP 1: HOW TO USE THE PARABOLIC SAR AS A TRAILING STOP
Many forex traders do not know that the Parabolic SAR is an very useful indicator which can be used to trail stop trades and lock in profit as a trade is profitable.
Here’s how the Parabolic SAR works:
- it plots dots on your trading chart.
- when the dots are above the price, that means, its signals or means its a downtrend.
- when the dots are below the price, that means that it is an uptrend.
Now, these dots can be used as your trailing stop.
SWING TRADING TIP 2: HOW TO USE THE AVERAGE TRUE RANGE (ATR) AS A TRAILING STOP
The Average True Range is one indicator that is also very effective as a trailing stop.
SWING TRADING TIP 3: HOW TO USE SWING HIGHS AND SWING LOWS AS TRAILING STOP (under construction)
SWING TRADING TIP 4: HOW TO USE PRICE ACTION OF CANDLESTICKS AS A TRAILING STOP(under construction)
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