Stock Traders Weekly @TopStockSetups - Twitter Profile

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2 months ago

What really matters when swing trading, and what skills must one master to succeed? Stock trading is straightforward but not easy, and when done effectively, it can often be considered "boring." Successful swing traders frequently spend 90% of their time waiting for ideal market conditions and only 10% of their time executing trades. Swing trading requires discipline and the capacity to renounce the ego and accept market conditions, at every moment, for what they are, not what you want them to be. You must avoid being mentally linked to a desired market outcome. Swing trading requires us to trade what we see, not what we think. As Ned Davis highlighted in his book "Being Right or Making Money," the goal is to make money, not to be "right." Don't get caught up in proving that your view is correct and the market is incorrect since this is a formula for disaster that has turned many a short-term swing trade into a long-term "investment." Having a disciplined daily pre-market routine allows one to remain confident, in control, and completely focused on the trading plan for the day ahead, regardless of prevailing market conditions. Author James Clear stated, "You do not rise to the level of your goals; you fall to the level of your systems." At times of increasing price volatility and market stress, the simpler your system is, the better, so you observe, analyze, execute, and respond without thinking; you simply do. As a swing trader, you must mentally block all distractions and disregard most of the social, political, and economic news, as it is completely unrelated to the task at hand. Once you have identified and studied your chosen setup(s), what matters first and foremost is whether the market environment is conducive to swing trading along with the post-breakout price behavior of your stocks. It is not necessary to foresee the future to profit from the stock market. It is frequently impossible and extremely challenging to predict correctly and to do so consistently. Contrary to popular belief, prediction is not even required. What is required is a daily system that enables awareness of the current market environment and the dominant primary market trend. To accomplish the highest returns over time, it is essential to focus on the optimal 4 & 5-star setups. You must always maintain high standards, wait for a market that best suits your swing trading style, and then be very aggressive when the time is right to trade when your edge is in play. If market conditions aren’t favorable and quality setups are not to be found, then you don’t have an edge, and you must have the discipline to remain on the sidelines and await improved conditions. Good swing trading periods occur in waves, two or three times a year, so remember you don’t always have to trade; you can watch and wait. Perhaps, as Jesse Livermore suggested, do a little fishing 🎣! #Traders #SwingTrading #JesseLivermore

TopStockSetups's tweet photo. What really matters when swing trading, and what skills must one master to succeed?

Stock trading is straightforward but not easy, and when done effectively, it can often be considered "boring." Successful swing traders frequently spend 90% of their time waiting for ideal market conditions and only 10% of their time executing trades.

Swing trading requires discipline and the capacity to renounce the ego and accept market conditions, at every moment, for what they are, not what you want them to be. You must avoid being mentally linked to a desired market outcome.

Swing trading requires us to trade what we see, not what we think. As Ned Davis highlighted in his book "Being Right or Making Money," the goal is to make money, not to be "right."

Don't get caught up in proving that your view is correct and the market is incorrect since this is a formula for disaster that has turned many a short-term swing trade into a long-term "investment."

Having a disciplined daily pre-market routine allows one to remain confident, in control, and completely focused on the trading plan for the day ahead, regardless of prevailing market conditions. Author James Clear stated, "You do not rise to the level of your goals; you fall to the level of your systems."

At times of increasing price volatility and market stress, the simpler your system is, the better, so you observe, analyze, execute, and respond without thinking; you simply do.

As a swing trader, you must mentally block all distractions and disregard most of the social, political, and economic news, as it is completely unrelated to the task at hand.

Once you have identified and studied your chosen setup(s), what matters first and foremost is whether the market environment is conducive to swing trading along with the post-breakout price behavior of your stocks.

It is not necessary to foresee the future to profit from the stock market. It is frequently impossible and extremely challenging to predict correctly and to do so consistently.

Contrary to popular belief, prediction is not even required. What is required is a daily system that enables awareness of the current market environment and the dominant primary market trend. To accomplish the highest returns over time, it is essential to focus on the optimal 4 & 5-star setups.

You must always maintain high standards, wait for a market that best suits your swing trading style, and then be very aggressive when the time is right to trade when your edge is in play.

If market conditions aren’t favorable and quality setups are not to be found, then you don’t have an edge, and you must have the discipline to remain on the sidelines and await improved conditions.

Good swing trading periods occur in waves, two or three times a year, so remember you don’t always have to trade; you can watch and wait. Perhaps, as Jesse Livermore suggested, do a little fishing 🎣!

#Traders #SwingTrading #JesseLivermore

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