Stock Swing Trading For Beginners Part 2
1. Title Slide 2. Hello everyone, this is Roger Scott from Market Geeks and it’s time to do another video tutorial. If you enjoy our tutorials and short lessons, please subscribe to our channel. 3. Last tutorial was about swing trading tips for beginners and I wanted to do a second part to add a few more tips to help you get started on the right path. 4. In the last tutorial I covered correlation between stocks and other markets such as ETF’s as well as using too many indicators or as I like to call it indicator fascination. 5.
In this tutorial I would like to discuss additional tips to help you gain a substantial leg up in your learning curve. You may be surprised at how simple these tips are and you would be even more surprised how often traders ignore them.
6. The first tip is never enter entry orders without having a predefined target and a stop loss. There is no exception to this rule; you must follow it regardless of the circumstances. About 50 percent of all traders ignore this simple rule and it always ends up being the number one cause of traders going out of business. You may think it’s too simple but remember it’s the simple things, the little details that cause the majority of all problems.
7. One way to avoid placing stops and exit orders is to place both orders at the same time you enter the market. This way you, if you don’t have the levels written down, you don’t enter any order. 8. Create order tickets similar to the one you see here, and record your entry, the stop loss and exit order and when you enter the order online, write the confirmation on each line next to the order. This way you have a record of all orders that need to be cancelled as well as a record of your transaction. 9. The second tip I highly recommend you follow is stay away from market that are stagnant or lack sufficient volatility for swing trading. 10. The best way to test this is to look at the daily range from high to low and compare it to the last 10 trading days. If the range is on the high end the 10 day range then the stock or the market you are looking to trade most likely has sufficient volatility for swing trading. If you see the volatility is on the low end of the last 10 days, you may want to reconsider trading this market at this time. 11. There are exceptions to this rule, which I will go into another time. This has to do with market that are temporarily pausing and offer low risk and low volatility entry opportunities, but that’s for another time. 12. That’s it for today’s tutorial. Make sure you follow these two simple rules, always have a predetermined stop loss and profit target in place before placing your order and do preliminary
volatility studies before entering your orders. These two simple tips are often ignored and end up biting traders the most 13. If you enjoyed this video, please subscribe to our channel and if you would like to learn more about swing trading and day trading please visit our site at marketgeeks.com 14. This is roger Scott Wishing you the best in you’re trading from everyone at market geeks. http://www.marketgeeks.com/stock-swing-trading-for-beginners/