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lsubeano
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What is the Best Swing Trading Strategy?
lsubeano replied to NYSEGOP's topic in Swing Trading and Position Trading
I think it's more important to understand what and who is moving prices and why they are moving up or down. keep it simple. markets go up, down, or are in a range. if it's down, wait for buyers to enter and market to rise and traders to take profit. then go long. if it's up, just buy if its in a range, wait for a breakout, then profit taking, then go long... take a little bit of profit off the table and then let the rest ride. Keep it simple and follow daily or weekly charts. obviously those are for going long....which is a good thing when trading stocks that hopefully pay some dividends -
It's a breakout pullback essentially....not sure if that's contradicting or not or objective enough. a simple trade is 1) wait for market to congest or enter a range. 2) wait for market to breakout of the range 3) wait for market to pullback 4) enter market in direction of breakout by 1 tick of breaking high/low of previous bar best!