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Message
Swing trading - general tips
Posted on 2/12/21 at 4:07 pm
Posted on 2/12/21 at 4:07 pm
For those of you who swing trade as a hobby, side hustle, or even a living, just curious about your general routine/strats.
I've always had an interest in day/swing trading and have finally decided to test the waters. Doing pennies right now since I'm starting with very little capital. Threw $200 at OZSC when it was @ .03 as my very 1st trade and apparently hit some nice beginners luck.
Anyway, how many positions are you usually in at once? Do you have a sweet spot? I imagine too many and it probably starts to get a bit overwhelming and or unmanageable. In my head I'm shooting for 15-20 at any given time.
What's your strategy on taking profits? I've taken my initial investment out of OZSC and am just letting the rest ride for now because I think it has good long term potential, but I really have no clue what kind of targets to set from here.
Anything else you're willing to share would be greatly appreciated.
I've always had an interest in day/swing trading and have finally decided to test the waters. Doing pennies right now since I'm starting with very little capital. Threw $200 at OZSC when it was @ .03 as my very 1st trade and apparently hit some nice beginners luck.
Anyway, how many positions are you usually in at once? Do you have a sweet spot? I imagine too many and it probably starts to get a bit overwhelming and or unmanageable. In my head I'm shooting for 15-20 at any given time.
What's your strategy on taking profits? I've taken my initial investment out of OZSC and am just letting the rest ride for now because I think it has good long term potential, but I really have no clue what kind of targets to set from here.
Anything else you're willing to share would be greatly appreciated.
6
Posted on 2/12/21 at 4:20 pm to SM1010
quote:
What's your strategy on taking profits?
I'm brand new and trying to learn, but from what I can tell a trailing stop sell seems to be almost a golden ticket in a bull market. Assuming I can figure out how to set one.
Posted on 2/12/21 at 4:33 pm to SM1010
scale into your position 1/3 at a time
sell into the rally 1/3 at a time
sell into the rally 1/3 at a time
Posted on 2/12/21 at 4:39 pm to cgrand
You automate that and set up limit sells/buys or you doing it manually?
Posted on 2/12/21 at 4:46 pm to SM1010
Other than AT's tips and that of others, I like to get to know a stock in detail over time to get a feel for it for either a swing trade or option play. Being retired gives me the time to study.
I'm too old to make really long term investments.
Motley Fool has some good tips at times. Seeking Alpha offers a good way to have a deeper look at any given stock.
Playing in paper trade is good exercise.
I'm too old to make really long term investments.
Motley Fool has some good tips at times. Seeking Alpha offers a good way to have a deeper look at any given stock.
Playing in paper trade is good exercise.
This post was edited on 2/12/21 at 4:58 pm
Posted on 2/12/21 at 4:54 pm to EarlyCuyler3
manually
if you’re gonna swing successfully you gotta finger the trigger
(that’s what she said)
if you’re gonna swing successfully you gotta finger the trigger
(that’s what she said)
Posted on 2/12/21 at 5:13 pm to cgrand
Posted on 2/12/21 at 6:29 pm to SM1010
Bought 40k shares of OZSC at 4.4 cents
Bought 40k more at 16 cents.
Sold the 2nd lot at 32 cents. Letting the first lot ride until I lose it or it's Long Term Capital Gains.
Bought 40k more at 16 cents.
Sold the 2nd lot at 32 cents. Letting the first lot ride until I lose it or it's Long Term Capital Gains.
Posted on 2/12/21 at 6:34 pm to SM1010
Before trying to trade stocks it would do you good to understand how to value them. Thst will help you identify undervalued stocks thst should swing up as they gain noise.
Posted on 2/14/21 at 8:37 am to Auburn1968
quote:
Playing in paper trade is good exercise.
I would agree. The simulated trading feature is great on thinkorswim. Really easy to jump back and forth between live and paper trading. I still use it all the time to test out strategies.
This post was edited on 2/14/21 at 8:39 am
Posted on 2/14/21 at 8:51 am to spaced45
quote:
I would agree. The simulated trading feature is great on thinkorswim. Really easy to jump back and forth between live and paper trading. I still use it all the time to test out strategies.
Spent the last few weeks of paper trading exploring selling calls for different stocks. The only drawback is to hit something really sweet, but it's only paper!
Posted on 2/14/21 at 5:59 pm to SM1010
No expert but I’ve done well following a few rules I set for myself.
- Always have a plan. Entry, Stop Loss (risk management) & Target (take profits).
- Nothing wrong with getting input from others but always do your own research.
- If you have an idea for an entry your technicals should be able to back it up.
I’m not as seasoned as I’m sure a lot of you are but these last two I learned the hard way.
- Don’t ignore what the overall market is doing. Can’t tell you how many times I’ve felt confident on a move only to get crushed because I ignored that day’s overall market direct.
- Lastly, get confirmation. If your expecting a move then it should be confirmed with by volume, news, or your technicals. If it doesn’t happen then sit that one out and live to trade another day. Don’t chase.
- Always have a plan. Entry, Stop Loss (risk management) & Target (take profits).
- Nothing wrong with getting input from others but always do your own research.
- If you have an idea for an entry your technicals should be able to back it up.
I’m not as seasoned as I’m sure a lot of you are but these last two I learned the hard way.
- Don’t ignore what the overall market is doing. Can’t tell you how many times I’ve felt confident on a move only to get crushed because I ignored that day’s overall market direct.
- Lastly, get confirmation. If your expecting a move then it should be confirmed with by volume, news, or your technicals. If it doesn’t happen then sit that one out and live to trade another day. Don’t chase.
Posted on 2/15/21 at 9:06 am to Auburn1968
quote:
Spent the last few weeks of paper trading exploring selling calls for different stocks. The only drawback is to hit something really sweet, but it's only paper!
Just a suggestion: if buy-write is part of your swing strategy, take a hard look at implied vol. and IV rank/percentile - especially true leading up to an earnings or event announcement.
Playing the options side along with a swing trade can greatly enhance returns and shave some of the risk off. But like I said, just a suggestion. Always stick with what you’re most comfortable with.
Posted on 2/15/21 at 10:07 am to Jag_Warrior
quote:
Just a suggestion: if buy-write is part of your swing strategy, take a hard look at implied vol. and IV rank/percentile - especially true leading up to an earnings or event announcement.
Thanks, I'll take it to heart and explore it.
Tutorials are good!
This post was edited on 2/15/21 at 11:36 am
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