Hey there ProfitFarmers,
We have some great news! We are going to begin posting some ‘manual trade’ ideas for all of our members! These will focus on swing trades but could also be other strategies, and will come up on an as and when basis for now. For now we will send these as newsletters so remember to keep an eye out.
What is Swing Trading?
Swing trading is a strategy that attempts to capture short to medium-term gains in a coin over a period of a week to several months (roughly).
The goal of swing trading is to catch the early stages of a major trend shift from one direction to another. For example, recently many altcoins have been heavily downtrending but are starting to show signs of life and potential ‘bottoms’ forming. The potential upside from here is huge in some cases!
Benefits of Swing Trading
Here are some of the reasons swing trading is a popular strategy:
- Requires less time to trade than day trading
- Maximizes short-term profit potential by capturing the bulk of market cycle swings
- Risk to Reward ratio is often very good
- You avoid overtrading and getting caught in ‘the chop’
How do I trade manually with ProfitFarmers?
Remember that you can create a trade in the same way that the standard ProfitFarmers copy-trade signals work within the ‘trade manually’ area.
TIP: These are CUSTOM OSO orders!
These are the basic steps to take:
- Read the chart
- Set your entry(s)
- Set your targets
- Set your stop loss
- Relax and see how it unfolds over time
For more information and guidance on trading manually you can refer to these guides and videos in the ProfitFarmers Academy:
- Chapter 3 part 4: Tips for Traders
- Chapter 3 part 6: How to manually adjust your trades
- Chapter 4 Part 1: The manual trading terminal
- Chapter 4 Part 2: Cleaning up dormant open orders
- Chapter 4 Part 3: How to move or edit your stop loss
- Chapter 4 Part 4: Making your own trades
What if I still don’t understand?
Full members can reach out to support as usual and we will get you up to speed!