Join WSB. Everyone there goes for full YOLO so they hang on to their trades until its -100% or the next TSLA. This will change your perception
%% All that can work well, for longs anyway. Leave the screen without a plan, or leave the screen with a plan on on inverse ETFs can easily ruin any profit. Collecting dividends can work even better ; but not on inverse ETfs/LOL Also easier, for any ''single stock'' profits to go up in smoke, so to speak. Partial profits /longer term charts can work well................................................................................
A quick look at the chart didn't show a 2 day low. Had you set a target at 15.2. Then it's a good trade. If not then you didn't follow your plan. Maybe you need to contact Andrea Wylan
I trade futures and to be more specific a shit ton of futures spreads. But I started swing trading in earnest in 2006 and I've refined an approach since then. 1. I think that it is very difficult for many mortals to swing trade and scalp simultaneously. There's a real temptation to overtrade. They are incompatible philosophies and styles. And over trading and micro managing is the number one killer of a performing swing trade position. YMMV, that's what I've come to learn over many years. 2. You model data, you set your price targets for profit and stop-loss - and you get out. You take your piece out of the market and you move on and look for the next opportunity. You will never buy a bottom or sell a top so get used to it. You take the very best risk/reward you can and that's that. Of course when you take a profit the market will keep running. Get used to it. You are working with historical data - emphasis on historical. 3. You need a trading system and everyone treats position management as an afterthought. This is biggest mistake that I see with new clients and other traders that I've observed through the years. I'm not passing judgement on anyone and I would never tell someone to ditch a trading style that makes money over a protracted period of time. I wish everyone good fortune !
Great points. I'll test using different brokerage accounts entirely for discipline, eg long term swing in tda vs daytrading/short term swings in fidelity. I'll only let myself log into tda on weekends
%% Good points. I dont think he is limited to a 2 day chart, even though he uses that a lot. Good points on targets................................................................................... KC, good profits on your last buy friday/sell monday inverse etf. Buying spxu again. ON inverse ETFS or single stocks, better to sell to soon; or profits could easy go up in smoke. Markets can change completely+ while i dont expect stock markets to change much \FEB + MAR tends to always be weak. Washing ton DC real estate has changed a ton + may never recover