Learn swing trading strategies – 10 Rules Swing Traders Must Follow 1. Title 2. Good Day Traders, This is Roger Scott from Market Geeks and today I have another short video tutorial for you. Today’s topic is going to be Learn Swing Trading Strategies - 10 rules Swing Traders Must Follow to Succeed. 3. Before I forget, please subscribe to our channel to receive video tutorials and updates from Market geeks on a regular basis. Don’t forget to visit our website at Marketgeeks.com for more trading tips courses and workshops.
4. Ok, let’s jump right in and go through our list of 10 rules swing traders must follow and remember these rules are based on years of experience and real world trading, so I highly recommend that you follow them as well as well. 5. Always Have A Trading Plan Many traders who are starting out begin trading based on a whim or an emotional guess and don't have a real trading plan. Remember that trading is not to be taken lightly and you need to have a basic road map that has all the important parts like your risk level, your entry level, your stop loss and your profit target all planned out in advance. 6. .Treat Trading Like A Business Trading is a business, when you trade; you either lose or make money. Treat your trading like a business; know what's coming in and what's going out. Know how to calculate your expectancy so you know what your risk is for every dollar you trade. These are basic principles that trader should know. If you sell widgets you have to
know what your cost is and what your mark up is and trading is no different. 7. Invest In Good Tools Don't be cheap when it comes to good trading tools, this is not where you want to be penny wise and dollar foolish, you will ultimately save much more money by having the best and quickest trading tools available than by trying to save 10 dollars on cheaper equipment. You need ultra fast internet connection and good execution, your software needs to be reliable and quick. 8. Always Use Stop Loss Orders Never enter an order without simultaneously entering a resting stop loss order at the same time. Many traders argue that orders get picked or they can enter the order later, yes you can, but most don't. People have a way of talking themselves out of stop loss orders after the fact and cause tremendous damage to their account as a result. 9. Know Your Target Exit Before Placing Order This is similar to the problem with stop loss orders. Many traders get greedy and don't take their profit when they are supposed to but even more traders get scared and take their profits too early. This is a major problem that can also be prevented by placing target orders simultaneously with your entry orders and your stop loss orders. 10. Trade with Risk Capital One of the biggest reasons why traders can't control their emotions while trading is because they cannot afford to lose the money they are speculating with. When you are not trading with risk capital, you are making it much harder on yourself to deal with trading emotions. Avoid this and only trade with risk capital it will help you get through emotional rollercoasterâ€™s. 11. Know When to Stop Another reason for traders losing money is burn out. Trading is very difficult psychologically and takes a great toll on your mind and body;
you need to trade in moderation. Don't let burn out affect your trading, take plenty of time off and get rest. 12. Keep Everything in Perspective Trading should be part of your life, not make up or define your life. Make sure you understand that and keep things in perspective. When I started trading I was pretty much locked up in a room all day trying to figure out what's what. I needed to step back to really understand what I was doing wrong and how to stop doing it. 13. Have Good Support System Have good friends and family who support what you do. Most professional traders have a great support system or had one when they started trading. Trading is hard on the nervous system and on family members, especially during losing periods. Make sure your family understands your trading plan and understands that losing periods are part of the process 14. Never Stop Learning Some traders learn a few techniques and trade them for the rest of their lives. Others keep searching and searching for the Holy Grail. Education is important because markets change and technology does to. You want to make sure you know what's going on and what changes are occurring so that you can make better decisions. 15. Thatâ€™s it for todayâ€™s tutorial. If you would like some tips to help you learn swing trading strategies or would like to know more information about getting started swing trading, please visit MarketGeeks.com. 16. Donâ€™t forget to subscribe to our channel for more video updates and free trading tips. This is Roger Scott wishing you the best from everyone at Market Geeks http://www.marketgeeks.com/learn-swing-trading-strategies-thatwork/
Published on Feb 13, 2013
http://www.MarketGeeks.com Top Ten Swing Trading Rules gives traders important rules and tips to begin swing trading and day trading to help...