Swing Trading in Australia: A How-to Guide

Swing trading is trading that takes advantage of price swings in the market. It’s one of the most popular types of trading and can be used to make short-term or long-term profits.

You need to master a few things before starting swing trading in Australia. This article will outline what swing trading is, how you get started, and some tips for success.

How to Swing Trade in Australia?

To begin swing trading, you’ll first need to open up an account on a cryptocurrency exchange. There are plenty of choices, but not all exchanges allow swing trading on their platform. Binance is one example of an excellent choice for Australian traders who want to get started with swing trading. You can deposit AUD in to Binance using your Commonwealth Bank credit or debit card, making getting started extremely easy. Coinbase would be another good option for Australians looking for more choices in cryptocurrencies they can trade with.

Once you’ve chosen an exchange and purchased some Bitcoin, Ethereum, Litecoin (the most popular assets for swing trading), or forex, it’s time to get started.

Important note: you’ll need at least 0.5 Bitcoin, 1 Ethereum, or 4 Litecoin in your account before you can start swing trading. That’s because the exchanges only allow margin trading (which is borrowing money from them) if you have more than $1 of their currency in your wallet.

It’s also worth noting that some risks are associated with swing trading cryptocurrencies on an exchange like Binance. For example, if the price of the cryptocurrency changes while your order is still open, there’s a chance they will execute it at a less favourable rate than expected. This risk isn’t necessarily huge – once your trade has been completed, Binance stops allowing new orders on that asset until it falls back within the desired price range – but it’s worth being aware of.

How to Find Good Swing Trading Opportunities

The best way to find good swing trading opportunities is by using technical analysis. This type of analysis looks at past price data to try and identify patterns that you can use to predict future price movements.

Tips for Successful Swing Trading

Now that you know what swing trading is and how to get started, here are a few tips for becoming a successful trader:

In Conclusion

Swing trading can be excellent for investors to take some profits in a relatively short amount of time. However, you must understand the risks involved and use technical analysis correctly before starting. Now, who said you couldn’t learn to trade from the forex websites.


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