It’s day 6 of the 9 days to master part-time swing trading challenge and today we continue our discussion of risk management, this time focusing on profit taking and targets. The Concept: Managing Risk With Targets We usually associate managing risk with losses and stops, but equally important is where we take profits. Sure, you have …
Confirmation bias has ended thousands of traders’ careers. Out of all of the day trading tips I have mentioned in the past, I believe this is one of the most important. If you do not understand this concept and how it affects your trading, you will open yourself up to the possibility of huge trading …
Read moreDaytrading Tips: How to Combat Confirmation Bias In Your Trading
In day 5 of the 10 days to master part-time swing trading challenge I show you how to manage risk on a macro level. In other worlds, we need to not only manage risk for specific trades, but also our overall account. The Concept: Managing Account Risk Why do we manage risk for specific trades? It’s because …
Read moreManaging Risk On A Macro Level (10 Days To Master Part-Time Swing Trading Challenge Day 5)
In day 4 of the 10 days to master part-time swing trading challenge I show you how to manage risk and set stop losses. This is one of the easiest trading concepts to learn, but one that too many traders ignore. This often leads to huge losses or even blown up accounts. So do yourself a favor …
Read moreManaging Risk and Setting Stops (10 Days To Master Part-Time Swing Trading Challenge Day 4)
The topic for day 3 of the 10 days to master part-time swing trading challenge is moving averages. We briefly touched on the topic yesterday when we learned how to analyze the market. The Concept: Moving Averages Everybody uses moving averages. If you are reading this article, I’m sure you’ve experimented with them and have them …
Read moreHow To Use Moving Averages (10 Days To Master Part-Time Swing Trading Challenge Day 3)
One of my favorite setups is shorting earnings breakdowns. Shorting momentum stocks at the open can yield huge gains in a very short period. It is even better when the stock is gapping down in reaction to bad earnings. In order to be able to capitalize on these trades, you have to know how to …