Advanced: Learn These Swing Trading Tactics
In this section, you will learn how some advanced swing trading tactics. Go through all of these articles and you will learn how to trade like a pro!
First, you need to learn how to read the candles - and specifically price action. You should be able to tell by looking at any stock chart if the buyers or the sellers are in control.
There are 4 chart patterns that I look for when I run my scans.
After a stock moves up, it will often pull back or "retrace" a part of the previous move. And sometimes, the stock will retrace (extend) more than 100% of the prior move. These retracements and extensions are what we will be discussing in the next two articles.
As a swing trader, you will be looking for trading opportunities off of the daily chart. But, you will want to look at the lower time frames to get a better idea of what might happen next. On the next page, I will try to take the mystery out of analyzing stocks in multiple time frames.
We have already talked about an entry strategy. But sometimes you may want to be more aggressive with your entry in order to get a better risk to reward trade.
Want to see some example trades?
It is common knowledge that you can make money when a stock goes up. But, did you know that you can make money when a stock goes down? This called "shorting stocks" and you must learn how to do this so that you can make money in the market - regardless of which way the market moves.
How do you tell if a trend is strong or weak? Use the ADX indicator. This technical indicator is a great tool to use when you are writing stock scans.
Here is more on finding out if a trend is strong or weak using swing points:
You need to be able to scan for stocks in order to find the best trade setups. Here is how to do that:
Sometimes the stock market may appear to be doing well. But looks can be deceiving. Want to know what is really going on under the surface? Use the McClellan Oscillator:
Want to learn a simple but powerful little trading trick that most stock traders don't know about? Shhhhh...it's a secret.
Ok, by now you have read through the beginner, intermediate, and advanced sections of this website. Congratulations! You are probably thinking that you are some kind of a swing trading ninja! You might even be entertaining some crazy thoughts like, "Hey, maybe I should start trading stocks for a living!".
You may want to read this first:
Learn how to trade stocks for a living (an article for swing trading ninjas).
But, wait! There's more!
Head on over to the reviews section to check out some trading products that I like...