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Welcome to episode 90 of the Stock Trading U podcast!
In this episode, I want to focus on one of the most important concepts in trading known as technical analysis.
While it sounds like an intimidating phrase, technical analysis is simply the study of charts for the purpose of both discerning the current price and volume action in the financial markets as well as forecasting future price movements.
Remember, there is nothing magical about a stock chart as they do not make the price move up and down. Instead, a stock chart simply provides a picture of the current bullish and bearish forces that are in play for that stock at any given time. And because that picture is changing every minute of the trading day, technical analysis is particularly useful for active traders.
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Welcome to episode 89 of the Stock Trading U podcast!
Once again, back in episode 3 of this podcast series, I discussed three popular trading styles, which included position trading, day trading, and swing trading.
In our last episode (#88), I briefly explained the concept of day trading.
And before that, in episode (#87), I introduced the concept of swing trading.
But in this episode, I will discuss the concept of position trading.
So what exactly is position trading?
Well, position trading is a longer-term trading approach than swing trading and day trading.
The position trader’s primary goal is to discover new longer-term trends just as they are beginning to develop. Instead of holding a position for a single day (like a day trader) or for up to a couple of weeks (like a swing trader), the position trader will often hold his position for many months, even up to a year or more in order to fully exploit the trend.
Put simply, the position trader attempts to buy just as a new major uptrend is getting started and will hold that position until he/she becomes convinced by the chart that the major uptrend is finally exhausted.
The goal of position trading is to generate large profits from a relatively small number of trades, while adhering to a set of strict money management rules.
When coaching new position traders, I usually tell them to aim for a minimum of a 20% gain on each successful position trade, though it is possible to earn much more as you improve your craft.
Position trading is often a powerful way for a new trader to get started, especially for those traders who are beginning with a smaller trading balance, and/or don’t want to spend all day staring at a computer screen.
In conclusion, I should add that position trading is my personal preferred trading style today as it accommodates my busy schedule and suits my risk tolerance.
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Day trading is a very short-term trading style that seeks to earn profits from a trading position within the course of a single trading day. Because the day trader opens and closes out his trading positions before the market’s close each day, this allows the day trader to avoid overnight risk.
The goal of day trading is to generate small but consistent profits each day by adhering to a set of strict money management rules.
When coaching new day traders, I usually tell them to expect an average of 1% or more on each successful day trade, though it is possible to earn much more as you improve your craft.
My personal favorite day trading strategy is to focus on trading major indices (like SPY or QQQ) as well as high-quality blue-chip stocks.
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Swing trading is a short-term trading style that seeks to earn profits from a trading position over the course of a few days and at most up to a few weeks. The goal is of swing trading is to generate small but consistent profits by adhering to a set of strict money management rules.
When coaching new swing traders, I usually tell them to expect anywhere from 1% to 10% gains within 1 to 10 days on each successful swing trade.
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On today’s episode, I want to provide some guidance for margin trading. When a trader buys a stock on margin, it means that he/she is buying a security with borrowed money from their brokerage firm. In essence, buying on margin gives the trader leverage to buy more shares of a security than one normally could without access to margin. Put simply, the trader is borrowing money from his brokerage firm in order to purchase a stock.
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On today’s episode, I want to share three popular trading niches that you may want to consider.
When you place a trade, don’t forget that on the other side of your computer screen are some of the brightest minds on Wall Street and they can spot an amateur trader based on his actions in a split second. If you don’t walk into the market with a plan, you could easily lose money.
Once you have settled upon trading as a new income stream for your future, it is vital to determine what your specialty or trading niche will be. And the easiest ways to determine your initial trading niche is to take an inventory of both your strengths and weaknesses, as well as your interests.
In this episode, Jerry Robinson shares three books about trading stocks that belong on the bookshelf of every new and aspiring trader.
In this episode, you will learn a simple real-world example of how to use the "Risk Percentage" technique, which is a popular way that traders can determine their position size.
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