Markets are analyzed by traders using the fundamentals as well as technical indicators. Professional foreign exchange traders depend more on technical analysis, while financial investors consider fundamental analysis the most important. Whatever approach is employed the most successful traders are able to adapt according to the current market, removing strategies when they are losing and seeking out better strategies. The main goal of any trader who uses any strategy in every market would be to earn an income.
Any research conducted to determine the efficacy of different strategies for trading (e.g. fundamental analysis and technical analysis, adjusting to market conditions) is not able to provide an answer to the question of the superiority of any of them. A few studies have revealed the economic factors, which form the foundation of fundamental analysis, are not crucial in generating trading returns when compared with indicators and technical analysis. The adaptive approach to adapting trading strategies according to the market and conditions, as well as what "works" has been demonstrated to be marginally better than not adapting to market conditions.
The pursuit of profits from trading activity leads to constant evaluation of trading strategies and strategies. In the past professionals who worked full-time researching markets where they devise, implement, monitor and modify trading strategies were able to dedicate a lot of time and energy to trading.
But, the person who isn't a professional trader may not necessarily have the time and the energy to dedicate themselves to trading. The people who have day jobs, face the challenge of juggling their work schedules while also pursuing strategies to trade. One option for traders working full time is to employ fundamental analysis to choose the most profitable security to buy or sell over the long term and then use the analysis of technical factors to find an appropriate price for entering and exit the market. This way, their trading position is quick and needs to be "found" alongside their other obligations. But, this approach is not proven to be as effective as strategies that employ more time-consuming technological trading strategies.
Another option for trading while working is to automatize the strategies for trading employed. This involves programming the trading strategy onto an exchange platform and then allowing the software to trade according to the conditions of the market. One approach is to create software agents that can monitor the financial markets via live data feeds and notify humans to trade when action is needed. An alternative to automated trading involves specifying the strategy and agents in order that all necessary actions are carried out via the computer. While such systems are viable, they have also been proven to be profitable to those that require a human trader to perform trades.
One of the most comprehensive tools for automated trading that recently emerged on the market is Elite CurrenSea’s Elliott Wave trading software. Truth be told, Elite CurrenSea's Elliott Waves tool has not been tested as thoroughly as manual trading strategies existing out there. However, the backtesting data, along with the current performance indicators is more than enough to conclude that the system is reliable and even recommended to anyone seeking stable but impressive passive income on a monthly basis.
The short commercial name of the tool is SWAT 2.0 standing for Simple Wave Analysis and Trading. It's a revolutionary MetaTrader 4 system often utilized by different types of traders because of its versatility and adaptability to various strategies and trading software. However, SWAT is becoming increasingly well-known among Elliott Wave traders as the software aims to integrate Forex Wave analysis in EW traders’ routines. The vast array of combinations of modern tools and theories SWAT allows users to take on both ranging and trending markets efficiently. The manuals that come with the program provide details into the use of Elliott waves Forex analysis and indicators to calculate the entry and exit points and for scaling out and in.
SWAT is an endless source of Elliott Wave analysis offering reliable options based on rules and discretion. In addition to the various techniques and tools that are available through the SWAT platform, investors have the ability to utilize the five-wave trading method that is original to the market that includes three in line with the trend, and 2 are anti-trend. One of the most unique ideas of SWAT is the Wizz target levels that permit traders to identify open spaces on the chart of prices and then apply EW analysis to identify the areas that are trending the most by using the Fibonacci retracement level. The Wizz levels are frequently employed for the purpose of ensuring that you can target the current trades.
Additionally, SWAT offers lifetime access to the best indicators and templates for strategy, along with customized analysis tools and charting tools. Users can monitor the market, carry out various analyses and make use of multiple tools across three dashboards available. SWAT does not come with hidden costs or upgrades requirements. In addition to the many advantages that EW traders will enjoy with SWAT, There are a variety of educational resources available to members of the platform, with lifetime access to video tutorials, template templates and additional indicators, and full assistance provided by Chris Svorcik (the author of SWAT) as well as members of the EliteCurrenSea team.
Another aspect that SWAT designers put particular focus on was the management of risk. Clients can gain access to multiple trading and risk management settings as well as financial management tools like risk-to-reward ratios (R = R) as well as take-profits and stop-loss strategies. For those who are experienced traders, SWAT provides access to Elite CurrenSea.SWAT live trading sessions however for a short duration of time. Live trading sessions give an understanding of the way Chris and the other members of the class make use of Elliott Wave analysis for Forex trading.