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Saturday, September 23rd, 2017

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Should I Swing Trade?

3

I am 20 years old and so I am considering a more risky investment plan.

I am considering doing something like 80% long term investing and 20% of my portfolio for swing trading.

but first I’d like to hear some of your views on the subject and personal experience.. I’d really like to know what book to start with and just how many people succeed in swing investing, also how much yield should be expected in this approach.

THANK YOU!

Comments

3 Responses to “Should I Swing Trade?”
  1. The Old Guy says:

    good luck, and before you spend $.01 on any trade, make sure you know what you’re doing, why you’re doing it and how to do it.

    Before any one jumps in and tries to buy stock, they must first decide if they are going to be a trader or an investor. (A trader is very short term holder of a stock – 1 minute to 3 months, an investor is a 6 months and beyond holder). Decide on how much capital you have available for investing/trading and how much of that are in going to spend. (You should never spend 10% of you investing/trading capital on a particular stock. Decide what industry in want. Look for good trades/investments in that industry and move with caution.

    If you want to trade, NEVER NEVER, go into a trade without knowing where (or when) you are getting out of it. If you’re an investor, look for good company fundamental.

    Before you invest in any security, the first investment you should make is in yourself, and the best investment you can make is by educating yourself.

    Start your education by learning why you should invest and the importance of being able to make your own decisions or how the pro’s make theirs.

    Here is some reading material that can get you started in the right direction,
    The first book you should read is Rich Dad Poor Dad by Robert Kiyosaki
    Then try some of these
    What Works on Wall Street by James O’Shaunessey
    Beating the Street by Peter Lynch
    One Up on Wall Street by Peter Lynch
    The Warren Buffett Way by Robert Hagstrom
    Trading For a Living by Alexander Elder
    Mastering the Trade” by John Caster
    How to Make Money in Stocks” by William O’Neil
    24 Essential Lessons for Investment Success by William O’Neil
    The Disciplined Trader by Mark Douglas

    Get into the habit of making daily visits to some websites like MSN Money and Yahoo Finance. (http://moneycentral.msn.com/home.asp http://finance.yahoo.com/ )

    While at MSN following the strategy lab analysts to get a feel for what the pros are doing and why. This site has some basic information for beginners. If any site offers free information, take it.

    Other website that can provide instructions and help with procedures and terminology are
    Investopedia – http://www.investopedia.com/ Stock Charts – http://stockcharts.com/
    http://www.investorshub.com/ http://www.1source4stocks.com/

    Visit some of the more professional websites like Zacks – http://www.zacks.com/
    Smart Money – http://www.smartmoney.com/ Schaeffer’s – http://www.schaeffersresearch.com/
    Some of these web sites will have advertisers who are worth looking into also. And remember, if they offer free information, get it.

  2. S says:

    Yes! Swing trading is probably actually your best bet in this market, with the unpredictable up and downturns. With swing trading, you are mostly learning to read technical indicators that help guide you on when to get in a stock and where to set your stop loss (when to automatically get out).

    The best stock coach ever is Adam Mesh, but in case you aren’t willing to spend a few grand on his coaching program, I also highly recommend an online course that I also bought that really does a thorough job of explaining how to trade stocks by studying chart patterns.

    The best resource for learning how to trade is http://www.GetTradingology.com/. Feel free to go through and review the curriculum and videos. They offer some free “preview-style” videos that will give you a taste of what the training covers. It’s a great course and pretty affordable, especially compared to other training programs.

    Good luck and happy trading!

  3. GRANT. Y says:

    i thought the same 5 months ago, its been good and bad.

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