Price Points Upwards; Indicators Point Downwards
That’s the mess that the market has traders in right now. For day-traders, the market is much more favorable. For swing-traders such as myself, it is much more difficult to find the right positions and in the right direction.
I’m growing slightly more bullish today after we saw the bulls buy up the morning weakness, which is something we didn’t get on the previous three down days. I’ve added one new long position today in the Splash Zone which brings me to a total of 3 longs and 1 short position.
The SharePlanner Reversal Indicator finally gave us the reversal signal, which can proceed a market sell-off right before it happens, or forecast it 1-2 weeks in advance. So be patient and use this reversal signal to start tightening the stop-loss on existing positions so that you aren’t shell-shocked in the even of a prolonged down turn.
Here’s the SharePlanner Reversal Indicator
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.
Watching the dollars rise and fall in your trading account can turn a well-planned swing trade into an emotional, deeply personal decision. In this episode, I explain why focusing on price action, percentage returns, and R-multiples can help you avoid cutting winners early, holding losers too long, and abandoning your trading plan.
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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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