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The Rules of Swing Trading
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- Before you begin to swing trade with out system review the tutorial.
- Define your assets and allocate your cash strategically.
- Have enough cash for 4 positions in your swing
trading account.
- Swing Trades typically last longer than 1 day although
they may be opened and closed in the same day.
- Always know when to initiate a trade and always
know when you will exit a trade before you enter any
trade.
- Anytime you enter a swing trade, use a $0.25 stop
loss in case the trade starts going against you.
- If at any time you have gains that exceed $1 in
any swing trade make sure that you do not let the
stock turn lower and make sure that you don't lose
those gains. You may want to simply execute a
close order or initiate a profit stop, this is up to
you. The point is that you don't let a winning
trade turn into a losing one.
- Be willing to balance your trade if needed.
- Overweighting positions (long or short) should
occur as indicated by the 5-point rule (In the tutorial).
- Contrarian swing trades are often most rewarding,
although momentum stocks should not be overlooked.
- We never trade more than 4 positions at one time.
- Monitor recent news events and understand which
of the stocks you follow are moving because of news.
- If a swing trade is stopped it can be
re-triggered up to 4 times before it is deemed
unworthy of an additional attempt.
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