After spending much of the day trading sideways, the bulls finally got the motivation to crank it in high gear and push the S&P up near the 1130 mark. So far they have failed to break through it, but what they have done is position themselves for a positive jobs report tomorrow that would inevitably push them through this strategic price level. Should they miss tomorrow, then watch-out, because we could see mass profit-taking ensue.
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, Ryan answers the questions of one listener ranging from his transition from paper trading to live trading, and swing trading to day trading. Also addressed is his approach to trading, specifically Fibonacci retracement levels and why Ryan prefers Pivot Points instead.
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