I wanted to ask if techniques/strategy that we learn for daytrading can be applied to swing trading & vice versa? or you would have to learn different strategies for either one because one is intratraded and the other one is trading between 3 to 5 days?...
Posted by usmcir0nfist on :
yep. The key to daytrading is small victories throughout the day. Swing trading is a lot less risky.
Normally with true day trading you will have sold all of your positions before the end of the day. ALL of them, so you are totally liquid when the bell rings. If you buy it and it immediatley goes down you sell and either try a new stock or get in at a lower price and then sell when it goes up.
With swing trading you don't pay nearly as much in fee's because you can hold stock for quite a few days or even a couple weeks. Riding through the lows of the day and the highes until you meet your desired gain.
Strategies are the same for both primarily. Wait for the best point to get in and then plan ahead at what point you will be happy to get out.
Posted by usmcir0nfist on :
I'm reading toni turner guide to short term trading right now and I like it a lot. It reads a lot like a story and isn't as dry as some of the other books I've scanned. It is all about swing trading ( a few days of holding) and position trading ( a few weeks)