Welcome to the 123 Trends and Reversals forum.
Hang out here if you're tired of daytrading! Let's see if we can pry dollars out from the deep pockets of Mr. Market without the frenzy and stress of scalping.
Instead, let's be on side with the trend as we swing trade. The game plan? As easy as 123 (or is it??)
(1) Trade onside with the primary stock trend.
(2) Be aware and be out when a trend has changed.
(3) Be willing to make bets, with stops.
For the definitions and references on trends and reversals, please see post #13 (contrarian to popular belief.. 13 is a lucky number... or at least I hope, for my financial sake)
Of course, in swing trading we need to look at more than just chart reading. Remember that the news make up the chart! So, we need to be cognizant of earnings report, analysts upgrades anddowngrades, hedge funds plays, options expiries, window dressings, markup games, market makers, traders' psychology, our psychology .... any one of which could significantly affect a trading outcome.
The usual rules apply for this thread. Lots of tolerance and respect for others views, and please no ego squabbles.
Be profitable! Or at least, protect your capital! More importantly, have a life other than trading! |
