My entry into ITW was late this afternoon, not with the prospect that I was going to make much off of it today, but but with the assumption that the rally would continue on into next week. I was pretty aggressive with my positioning today, going from 3% long to 57% long.
I’ve got $52 marked for my initial price target.
Here’s the chart on ITW.
Welcome to Swing Trading the Stock Market Podcast!
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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.
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Emotional trading will destroy one’s portfolio. Aiming to hit home runs with every trade is a sure sign that the trader is overly emotional and only cares about fast money. In this podcast episode Ryan explains how chasing after stocks like MicroStrategy (MSTR) without a plan for managing the risk can ultimately ruin a trader’s attempt at being a successful swing-trader.
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