When it comes to swing trading, there are some fundamental aspects of the markets in play, and there are also fundamental reasons to go where the market offers you an opportunity. These factors come together when making trade decisions.
I’ve taken a thorough, detailed, and often anecdotal look at the swing trades on this network and come to a few clear-cut, very general principles for evaluating who is the right trader for you.
To get a more hands-on read on what I mean, I’ve written an article about how to make the right trade, and I encourage you to read my article to get a better understanding of the subject. These principles apply to all kinds of trades and are only valid for those who have taken the time to study these tips and ideas.
Let’s get started.
1.) Make a plan that you and your advisors can stick to, and stick to it
Your plan is the most important part of the entire exercise. It dictates your strategy, your timeframe, your targets, what strategy to use, and so much more. But before you can stick to your plan, you have to know what you’re going to stick to, so you know what you need to do to stay compliant with the rules and avoid fines.
The plan needs to be simple, clearly written, and not confusing. You can’t just assume that everyone and everything you do agrees with it, especially if it means you don’t have a good chance at making money on your trade. Every time you make a trade or you tell your advisers you’re going to make a trade, make sure it’s completely out of line, plain and simple. Do as you’re told and just read the fine print and make sure you understand yourself and your options as best as you can.
My first thought when I see someone break the rules every single time is that this person is simply not smart enough to do the job professionally. That person has no idea what he is making, knows the risks and the rewards, and thinks all of his trades are going to work, but they simply haven’t studied the pros and cons enough and haven’t followed up on what they do. There are many people who have the talent and skill to make a great trade, but have little idea how to do it. There are plenty of people whose trades are just completely out of whack, and that simply doesn’t matter. What matters—especially if you’re going after a very specific market—is whether
day trading vs swing trading vs long term, forex day trading vs swing trading, swing trading for dummies by omar bassal, cfa, swing trading for dummies pdf, scalping vs day trading vs swing trading