Even with a huge rally on Friday, the bulls aren’t done just yet.
This was seen quite clearly on the SharePlanner Reversal Indicator reading as well, showing the market still had plenty of upside left in it.
Though like many of the rallies of late, the move happens before the day ever happens, resulting in a fairly large gap higher, and boredom throughout the remainder of the day, so that holding overnight becomes essential.
Over the past couple of weeks, I have managed to put together a fairly solid portfolio of trades that are doing quite well for me at the moment. For now, I am more interested in managing the current positions in my portfolio rather than adding more trades and exposure.
Here are the long setups to watch for the week:
Welcome to Swing Trading the Stock Market Podcast!
I want you to become a better trader, and you know what? You absolutely can!
Commit these three rules to memory and to your trading:
#1: Manage the RISK ALWAYS!
#2: Keep the Losses Small
#3: Do #1 & #2 and the profits will take care of themselves.
That’s right, successful swing-trading is about managing the risk, and with Swing Trading the Stock Market podcast, I encourage you to email me (ryan@shareplanner.com) your questions, and there’s a good chance I’ll make a future podcast out of your stock market related question.
In today's episode, I talk about tightening the risk on the trades and the benefits of taking a multi-pronged approach in doing so between profit taking and raising the stops. Also, I cover how how aggressive one should be in adding new swing trading positions and how many open positions that one should have at any given time.
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*Disclaimer: Ryan Mallory is not a financial adviser and this podcast is for entertainment purposes only. Consult your financial adviser before making any decisions.
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