If you are interested in trading, and you are interested in a swing trading strategy, then I suggest that you take a look at this article. You will find some of the best books available on the market that will help you to learn more about the trade and become a better trader. These books will also help you to avoid the most common mistakes traders make. This will help you to stay on the right track and make money in the long run.
Mastering the Trade by John F. Carter
Taking a gander at the latest edition of Carter's newest book, you'll find the author takes a page from the trader's playbook. This is not your average trading manual in any guise, but an exemplary example of what a good trader is, and the best place to start. The book is a great resource for any trader, beginner or veteran. With the right guidance, any trader will be able to make money in no time at all. Whether you're a day trader or a swing trader, this book is sure to boost your ego, and your pocketbook. You can even get in on the action by signing up for a free membership to Carter's newsletter. In addition to his latest book, he's also a member of several other organizations, including the Wall Street Journal's editorial staff. It's not easy to be a member of the club, but you'll never be on the outside looking in when you've got a copy of Mastering the Trade on your bedside table. The author's other notable contribution is the oh-so-cool Carter's Trading Academy, a hands-on trader training facility that is both educational and fun. Despite his name, he's still a nice guy, and one that you can trust.
Jesse Livermore is one of the most successful stock traders of all time. His methods are considered classics and his rules have stood the test of time. He made several fortunes in his lifetime. During the Great Depression he was able to short sell stocks to make over one hundred million dollars. He credited his success to discipline and being able to follow his own trading system. As a result of his dedication to his trading strategies, he built a fortune that would have been worth over $1 billion in today's currency.
Livermore believed that buying and selling based on the direction of the market was the key to successful stock trading. He did not believe in waiting for a stock to go down, rather he looked for rallies in downtrends. If a stock price went down and then recouped, he purchased more shares.
He based his stop-loss on a 5% to 10% loss from the lowest pivotal point to the highest relative high. Usually, he waited for price action to confirm his thesis. He did not bother with “junkyard” stocks. Instead, he chose the strongest companies in the strongest industries.
Powerful Swing Trading Strategy for Consistent Profits
Having a powerful swing trading strategy can be a big help when it comes to consistently earning profits. A successful swing trade is one that continues to move in your favor for days or even weeks at a time. This is because the trader is able to take advantage of longer term trends. The most important part of a swing trade is to know where to place your bets. You must follow the rules of the game to achieve consistent results.
The most logical way to approach a swing trade is to keep your losses to a minimum. Ideally, you want to cut losses as soon as possible when the market starts to show signs of reversal. Another trick is to use filters to assess the asset's movement. For example, you might use an exponential moving average to get more precise trend signals.
It is also helpful to know what the RSI line represents. An RSI indicator is a handy tool that can detect when a stock is oversold or overbought. If the RSI line crosses over 30, it is a good sign that you should be buying. In addition, you can make money on short selling, a technique that involves repurchasing shares at a lower price.
Come Into My Trading Room by Dr. Alexander Elder
Come Into My Trading Room is a comprehensive book that covers all the basic trading concepts. It also includes a proven money management strategy. The book reviews the basics of trading stocks, and outlines the psychological tactics that will help you to discipline yourself. This book is for any trader, beginner to advanced, and will help you to understand how to get the most out of your trading.
In this book, Dr. Elder takes the reader through the process of becoming a semi professional trader. He discusses how to become more disciplined, how to learn the art of technical analysis, and how to use indicators. Among other things, he walks through actual trades and describes how to set up a good trading diary. His workbook has exercises that can be used to verify the material that is covered in the book.
As a psychiatrist and a professional trader, Dr. Elder is an expert on technical analysis. He shares his expertise with you by sharing the most recent indicators, systems, and strategies for successful trading. You will also find a section of excerpts from his own trading diary.
Aside from teaching the basics, Come Into My Trading Room offers a fresh approach to the three Ms of trading: organization, money management, and mental discipline. By reviewing these three factors, you will learn to develop and implement a consistent trading plan