Swing-trading short this market may not be done and over just yet.
I closed my position in SPXU (3:1 inverse of SPX) for almost a 6% profit in the Splash Zone yesterday as well as another 2% from a QQQ short. Based on the price action overnight, I thought the market may see a bounce today.
And we have seen a minor bounce so far actually, but it isn’t anything impressive.
Well, it looked impressive initially, I took a stab at it, by adding a couple of long positions, but closed them out when the started to lose their trading edge. No edge, no reason to continue trading that stock.
Below, I’ve put together my current watch-list that I am working off of for potential future short setups should this market continue the trend of the previous three trading sessions.
Here’s the swing-trading watch-list for short setups that I am following:
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 cover the expectations that we should be setting for ourselves as swing traders, from the number of trades we should be expecting to take, how long and how short we should be in our trading portfolio, as well as what the expectations for a win-rate should be.
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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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