The S&P has given up all of its gains on the day, and they were plenty, and now finds itself trading in the red. As a result, the bears are inspired by the failure to push through the 1175 price level, and keeps them from having to consider whether they should cover their shorts or not ahead of Bernanke’s Jackson Hole speech for now. What I’ve done for you below is provide a nice layout of what the bulls need to do in order to regain control of this most unpredictable market.
And my apologies for the use of the unmanly color purple on the chart. With a black background, my options are limited for what colors show up best when placing text on there.
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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