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Swing Trading Anyone?
Old 09-11-2014, 09:31 PM   #1
Confused about dryer sheets
krafthaus's Avatar
Join Date: Dec 2013
Location: Saskatoon
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Swing Trading Anyone?

A few years back I read this book from the library called The Swing Trader's Bible.

I've never thought much of technical trading and buy and hold has its place, but Swing Trading has potential for gains in up and down markets based on the methods described. I tinkered a bit on some stocks and broke even over a month and never had time to go back and give it more of a try.

Now that I will RE in the foreseeable future, I want to give it more of a go and wondering if any others of you have had success with this strategy.

Another interesting read that discusses Swing Trading in part of the book is Live on the Margin by O'Kelly & Shulte.

Live on the Margin: Patrick Schulte, Nick O'kelly: 9780578116648: Books

Any comments & advice appreciated. Cheers!

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Old 09-13-2014, 09:06 AM   #2
Recycles dryer sheets
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Join Date: May 2009
Posts: 159
Perry Kaufman has a chapter on Swing Trading in his book "Trading Systems and Methods". This is a textbook more than a "Make Millions using my secret methods!!" type of book.
Trading Systems and Methods - Perry J. Kaufman - Google Books

It's been very difficult for me to over-ride a value investing mindset based on P/E, P/B, reading the financial reports, etc. and actually listen to what the stock price & volume was saying. Would have had significantly better results had I done that this year.

I'm working my way through Richard Wyckoff's course from 1931/7 right now. I found a link to it on Traders Laboratory. Another timeless book is Stan Weinstein's Secrets for Profiting in Bull and Bear Markets. One of the things he advises is to keep a trading diary with only your losing trades in it and your reasons for buying (or not selling). Then after several months, look for a common denominator in the losses. Mine is a tendency to try to catch falling knives, a fear of buying higher once I've established an initial position and it's showing a profit and selling too soon / not letting a winner run the full way. Lots to work on. But fortunately am not working (at a job), so have lots of time to focus on it.

Good luck!
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