SPX is reversing today, and looks to have found support at the 2040 level.
We definitely are not out of the woods yet, but it doesn’t seem like the bears have a firm grip on this market any longer. If that is the case, then it becomes a matter of how long can the bulls sustain the upward push we are currently seeing.
Frankly, it is impossible to know how long it can sustain itself, so it is our job as traders to manage the risk and continue to ride the wave higher as long as it will last.
Below I have put together a list of trade setups that I am following this week, and of course I’ll be adding and subtracting from it as the week progresses, but this list will be a great starting point for you in your trading.
Here’s the bullish list of trade setups:
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.
What do you do when the best trade setup that you can find is a stock that you already have a position in? Should you trade a stock that you already have a position in and exponentially increase the size of that position? In this podcast episode Ryan explains the circumstances that allows you to increase your position size in an already profitable trade and how to manage the risk in doing so.
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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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