I just started out with my blog which is mainly about betting so far but trading will have an important role as well. Some things more than others. Open up a horse racing market on the Betfair Exchange website that is due to start in about 20 minutes. Hi Caan, Thanks for the reply. This means that, for those who stick with it and eventually persist the payoff is well worth the wait.
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The figure above should give you a good representation of how the Bollinger Bands look like. Most trading platforms come with this indicator in their default list of indicators. The preferred setting for the swing trading indicator Bollinger Bands indicator are the default settings because it makes our signals more meaningful.
We reached this conclusion after testing the strategy based on several inputs. Before we go any further, we always recommend writing down the trading rules on a piece of paper. Also read our Forex success program. Our simple swing trading strategy is really just comprised of two elements.
The first element of any swing strategy that works is an entry filter. The second element is a price action based method. The first element we want to see for our simple trading strategy is that we need to see price moving into overbought territory. Any swing trading strategy that work should have this element incorporated.
After we touched the upper Bollinger Band, we want to see confirmation that we indeed are in overbought territory and the market is about to reverse.
The logical filter, in this case, is to look after a break below the middle Bollinger Band. This break below middle Bollinger Bands is a clear signal in the shift in market sentiment. In this regard, we want to see a big bold bearish candle that breaks below the middle Bollinger Band. The second element of this candlestick based method is that we need the breakout candle to close near the low range of the candlestick.
This is indicative of strong sellers, which really want to drive this currency pair much lower. Every swing strategy that work needs to have quite simple entry filters. Now, we still need to define where to place our protective stop loss and where to take profits, which brings us to the next step of our simple swing trading strategy. We assumed that this candle shows the presence of real sellers in the market.
If you want to learn more about this breakout technique and how to manage breakout trades, please read our Breakout Trading Strategy Used by Professional Traders article for more insights. The next part of our simple swing trading strategy is the exit strategy which is based on our favorite swing trading indicator.
The reason why we get profit here is quite here to understand as we want to book the profits at the early sign the market is ready to roll over.
You can notice that this trade is still running as we have yet to break and close below the middle Bollinger Bands. This just proves that the higher the time frame the more powerful our simple swing trading strategy is. Some complex strategies can be too overwhelming and confusing, so using a simple swing trading strategy; it can be all it takes to succeed in this business.
A swing trading strategy that work should be comprised of a swing trading indicator that can help us analyze the trend structure, and secondly a price entry method that looks at the price action which is the ultimate trading indicator. We understand that there are different trading styles and if swing trading is not your thing you can try our Simple Scalping Strategy: The Best Scalping System which attracted a lot of interest from our community.
Please leave a comment below if you have any questions about this swing trading strategy! Please Share this Trading Strategy Below and keep it for your own personal use! Found this post of use? Please share and comment below! It seems that are a lot of similarities to tennis trading. Since I started to scalp I am on the winning path. Obviously we also have swings at tennis and back to lay or the opposite is also a way to make profit.
It seems that the biggest advantage of the horses are the high amount of races, you can trade. You have to wait for the right moment, some games are not tradeable for example most first round matches, where a big favourite like Federer or Djokovic is involved.
Keep up the good work. Perhaps you can put my blog at your link list. Your one is already at my blog roll. I have immersed myself in the racing markets over the past 6 months. Thanks for all ur content. It has definitely helped me improve. Yep that sounds boring… Brill stuff Caan. You will make mistakes especially if you go inplay a lot to go for better odds.
I do it as a secondary income on top of my usual day job as a freelancer. I use Bet Angel, perfect for this method. Hi Steve, sure its easy enough to get a bit bored after doing it so long though… but definitely grateful though for sure. Oh yes, I agree. I get days when staring at stats on sites and bet angel so long numbs my brain. I tend to keep the time consumed under control partly as I run my own business too.
That kind of approach brings easy losses. Newcomers here should take scalping carefully, and keep updated via your site and some others. I was wondering if you could provide some one2one online assistance for me if i were to pay for the service.
Thanks for this post Caan. I aim to please! There should be more content available on the channel soon… Caan. Betting odds I understand, this stuff.. My first bet was in a factory. A guy had a timed bag to take to the bookie. First bet — 3 sixpenny doubles and a sixpenny treble. High street bookies took me to the cleaners.
Awesome article here Caan. Your free content is brilliant, and helped me out so much already! Is it because my stake was too low? That way you can hedge up quickly. And no loss on the other runners. Good luck with your scalping! Hi Caan, great post, really informative. I do back and lay trading. I back the night before on a horse whose odds look very good value and lay out generally about 20 minutes before the off. Does anyone else do this back and lay strategy?
How successful have you been with this strategy? I do it this way as well, either the night before or get up early in the morning. Hi Caann, How do you go about selecting your horses to back and lay for a profit? If you could give me your criteria that would be great: Question about prerace trading: Trying to replace password. Bought racing info but password will not replace. How do I set up Geeks Toy for 2 week trial?
I have been attempting some different horse racing trading strategies for a while now without too much success. It seems that I may have been doing a thing or three wrong. This blog has helped me see some of the situations in a different way, you are a wise fella. Hi Caan, Really enjoyed watching a lot of your videos this morning.
After losing money on Betfair hopefully this will offset future premium charges gambling over the years I feel trading is the way I can be successful.
I really think there is an opportunity for me and my main concern is understanding the software and technology that goes with it. I plan mainly to trade pre-off horse racing and maybe some scalping on goals market in football matches.