Tackle Today: Swing Trading 101 | Tackle Trading
≈ Do you have a detailed trading plan? ≈
How simple is your trading plan? How detailed is it?
Many traders prefer simplicity when executing a trade. They build rules and skills to be able to identify their Entry trigger, 1st Target, 2nd Target, Stop Loss and Position sizing.
If you can answer these questions, you can build a trading plan.
- Where will you buy, and why?
- Where will you take profits?
- Where will you cut your loss?
- How much will you risk?
When you are new, it’s easy to get swept up into complexity, but we advise you to keep it simple, learn the basics and start trading with a disciplined plan. You’ll be better off for it, and then, when you are using more complex systems you still have the foundations of trade entry, exit and sizing built.
This Wednesday night, we will be holding a special Mastermind group, free to all, to learn how to build a swing trade. We’re calling it ‘Swing Trading 101’. You will need to register with your email on the following page, if you’d like to attend and learn.
Chart of the Day: AXP
$AXP was a candidate from this weekend’s Options Report. As a breakout, we can build our Entry, Target, Stop and Position size with swing trading rules. Each weekend, the coaches do this in the reports, but you as a trader, need to have these foundation skills as well to execute the basics.
Video of the day: How to perform multiple time frame analysis on a swing trade
In this video, Coach Noah shows you exactly how to do a multiple time frame analysis on a swing trading.
Originally published at tackletrading.com on February 25, 2019.
