Understanding Swing Trading – More Advice for Beginners 1. Good afternoon traders, this is Roger Scott from Market Geeks and today I have another video tutorial for you. I hope you enjoy our video tutorials and please subscribe to our channel for more swing trading videos and swing trading tips. 2. The Title of today’s trading video is going to be Understanding Swing Trading – More Advice for Beginners… 3. There is something that most people who are just start out swing trading need to keep in the back of their mind. This is rather basic but it’s something I noticed with many traders and goes a long way to understanding swing trading. 4. Remember, the biggest problem with traders is psychological and the biggest reason for psychological worry is losing money. When money is not on the table and traders are speculating on paper or paper trading as it is often labeled, most traders make a killing in the markets. Once money gets involved, the game totally changes and losers become large and winners become small and well you know the rest. 5. One pattern I noticed among traders is there is a point that they reach and once they reach that point they finally get it. It’s hard to put this into words but the best description I can give you is riding a bike or learning to snorkel. The reason I use these two examples specifically is because when I was learning how to ride a bike I just couldn’t get it till that one moment when it clicked, anyone who knows how to ride a bike probably can understand what I mean. Your mind develops some type of an association with balance and you know inside of yourself that you won’t fall off and then you never think about it anymore. Same thing with snorkeling, it’s not natural to breathe underwater but once you get it that one time and your mind clicks it’s not something you can ever forget. 6. I use these two examples because understanding swing trading is exactly the same thing. Something inside of you will click when you finally get it and once you get it, it’s not something that you will ever
forget; it becomes part of you. 7. Here’s the interesting part about all of this, each and every person I have ever come across had the ability to master swing trading but only about 20 percent of the people I came across did so. The major reason only 20 percent of the people made it all the way though is because they avoided specific actions that the other group of students did not. 8. The point of all of this is simple, if you begin trading and avoid the pitfalls long enough, you will become a profitable trader. Once again the problem is most traders do not avoid the pitfalls and don’t survive the longevity necessary to develop that mental association when you are completely sure of your abilities as a trader just like someone who gets on the bike after riding it for 5 years has about their abilities as a bike rider. 9. If you follow these rules I can assure you will avoid about 90 percent of all the errors made by traders who are starting out. This will insure that you will make it long enough to develop the assurance, confidence and abilities that are necessary to become a profitable trader or develop the mind set that’s necessary to become a profitable trader. Keep in mind once you develop this ability you will have it for the rest of your life. 10.
Follow the Main Trend
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Always Place Stops and Profit Targets
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Use Risk Capital Only
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Look At the Big Picture
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Have a Trading Plan
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Diversify
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Stay Organized
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Trade Simple Strategies
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Learn To Measure Expectancy
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Evaluate Yourself
20. Following these simple rules will ensure you will not fall into any deep holes before you develop the mental skills necessary to become a winning trader. 21. Thanks for joining us today. Please don’t forget to visit marketgeeks.com for trading workshops and other great resources for swing trading. Please don’t forget to subscribe to our channel for more trading videos and swing trading tips. This is Roger Scott wishing you all a great day. http://www.marketgeeks.com/understanding-swing-trading/