I got to keep this very simple today everyone. I got to take care of some personal issues this morning, nothing serious, just things that need to be done. So here are the numbers.
$SPY 1st support is 164.66, 2nd support 163.62 and 3rd is 162.35.
$SPY 1st target is 165.71 and 2nd is 167.19, 3rd is 167.78, and 4th just for fun is 169.09.
Trade what you see, not what you think
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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In today's episode, I talk about tightening the risk on the trades and the benefits of taking a multi-pronged approach in doing so between profit taking and raising the stops. Also, I cover how how aggressive one should be in adding new swing trading positions and how many open positions that one should have at any given time.
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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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