This original thinking strategy trades in the direction of the primary trend. Entry is made on pullbacks in the sub-minor trend. Trades are held 1-5 days – that is until they reach their stops, targets, or a maximum time limit of 5 trading days.
There is no Holy Grail
I can help you learn how to work towards swing trading success, but I want you to understand first and foremost that there is no quick and easy way to swing trading mastery. If it were so easy, obviously, everyone would do it. Stop looking for an easy set of rules that will catapult you swiftly off to financial freedom. You must accept that there is no such set of rules. You will not read about it in a book or on the web. Nor will you stumble across it yourself. You must accept this and take responsibility in thinking for yourself – thinking being the key word here. Enough lecture though - let’s get started.
OK, no Holy Grail… Then how to Begin?
Common sense says let’s build a set of solid trading skills by breaking down a swing trade strategy that we can learn and improve on, and learn to apply our skills to real time trades.
Swing Trading Skills:
- Understanding Time and Trading Competition for the Counter Trend / Reversal Swing Trading Strategy
- Identifying Trends and Avoiding Trend Relativity Errors
- Support and Resistance
- Long Term Fibonacci Retracement Levels
- Counter Trend Execution and Entry – Trend Lines and Gaps
- Additional Swing Trade Entry Skills
- Risk Management and Stop Loss Placement
- Placing Profit Targets