20 Rules for the master swing trader
Rule 6 : Buy the first pullback from a new high.Sell the first pullback from a new low.
Trends often test the last support resistance before taking off.Trade with the crowd that missed the boat the first time around.
Rule 7 : Buy at support.Sell at resistance.
Trend has only two choices upon reaching a barrier:Continue forward or reverse.Get ti right and strat counting your money.
Rule 8 : Short rallies,not selloffs.
Shorts profit when markets drop,so they start to cover.This makes it a terrible time to enter new short sales.Wait until they get squeezed and shaken out,then jump in while no one is watching.
Rule 9 : Manage time as efficiently as price.
Time is money in the markets.Profit relates to the amount of time set asaid for analysis,know your holding period for every trade.And watch the clock to become a market survivor.
Rule 10 : Avoid the open.
They see you coming sucker.