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How To Start Swing Trading Video Transcript (3) .pdf

Original filename: How To Start Swing Trading - Video Transcript (3).pdf
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How to Start Swing Trading
Good day traders, this is Roger Scott from Market Geeks, and today I will give you some quick pointers to
help guide you in the right direction.
1. Use a simple strategy – complex strategies can be too overwhelming and confusing for someone
starting out.
2. Don’t try to be a jack of all trades – Many traders start too fast by trading too many markets and
different patterns.
3. Always use a stop loss – This is the biggest reason why traders go under quickly. Don’t make the same
mistake and use stop orders at all times.
4. Trade both directions – The best opportunity comes from trading both sides of the market, if you trade
only the long side you miss 50 percent of all trading opportunities.
5. Make sure your risk to reward ratio is at least 1 to 3 – Short Term produces less profit, make sure your
profits are reasonable. This ratio will keep your trading profitable and produce positive expectancy.
6. Don’t trade in a vacuum – One of the biggest problems that beginners face is only looking at the chart
and forgetting the rest of the world. I had this problem myself when I first began trading a very long time
7. Use general market indicators – This goes along with the previous tip about not trading in a vacuum,
this also applies to technical indicators. It’s one thing to avoid multiple technical indicators that do the
same thing, but general market indicators such as TRIN and TICK are very important indicators and
should never be overlooked.
8. Go with the main trend – Another huge mistake made by beginners is avoiding longer term analysis
tools that provide great indicators of the long term market direction. Even when trading against the short
term trend, traders should always trade in the direction of the long term trend.
9. Don’t impose your will on the market – The markets cannot be controlled by you or anyone else. Don’t
think that you can change the direction of the market by getting upset or adding to your position. The
markets do not care about you, they have no feelings
10. Be careful paper trading – the hardest part of trading is the emotional aspect. When you are paper
trading, you do not have to deal with that aspect of trading.
Thank you for watching today’s presentation. Good luck in your trading!
Roger Scott
Market Geeks

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