[Soultrader]

Chris,

Yes, it makes perfect sense. You are looking for a swing trading method. I am actually starting to pick up swing trading on my own. Try picking up Alan Farley's, Master Swing Trader. I have taken some of his home study courses in the past and found it to be of great help. I learned a great deal of volume and price analysis from him.

The problem with simulation or paper trading is that it takes the pyschological and emotional out of trading. In my opinion, our competition is not of other traders. The true competition is yourself. I am the biggest enemy to myself. When you have money on the line, your brain will play many different tricks. It is the abilitiy to control this that will help you succeed as a trader. Paper trading is good to test out a strategy. But you should get in the habit of trading live with real money. If you do not feel like you are ready, trade small. This way you can practice and not lose money that can hurt you financially.

[jacobnbr1]

Some day i will sell all these books i have bought over the years and get a hefty return...

I got three sets of cd,vhs programs of the "WADE COOK METHODs" , and pretty close to 85 books.

Anywho the book in mention is on the way to me, i got the audio version for 16.95 on e-bay. hope this is what you wanted me to get?

So what can i do til then if i wan't to be a swing trader? Is there an easy chart pattern i can be looking at?

I went to a few websites today and some had video feeds of how to swing trade and looks as if you are setting these things up as breakouts.

I had a few good insider trades this week as the markets retraced. most of the insider stuff has very little volume so a retracement does very little to the positions... Lucky me.

thanks again.
chris

[Soultrader]

Hey Jacobnbar1,

You got the audio version? Which means you will be unable to view the charts and setups Alan Farley has in the book. I also have the audio version and the book version. I did this so I can listen to some concepts in his book while working out. Either way, you will still find the audio version useful.

I posted a chart... this is the reason why I do not play breakouts.

[jacobnbr1]

I did'nt think about the chart setup photo's in the book...
I will buy the book also.


What other methods are there other than breakouts?

[Soultrader]

There are a variety of methods in trading. I recommend you start reading about the methods of other traders and find what may fit you. For example, some people use price levels based on fibs or pivots, Others use volume analysis, market profile, tape, etc..

It all depends on your style of trading, Do you want to be in and out in a matter of a few minutes? Are you looking to capture the bigger intraday swing? Would you want to make 20-30 trades a day? Self-understanding in trading is vital for success.

There is no simple solution in trading.... those who seek for a simple method to follow or their neighbors advice is destined to fail.

[jacobnbr1]

I totally understand. It simply is not me to day-trade intra day, i do not want to tie myself to thin as i have a full time job that requires a-lot of attention but does include computer internet work.

I was thinking that an idea would be 1-5 day hold time.

The reason i am asking for the advice is because i do not want to use the wrong tools for the right job.

[Soultrader]

If you have a full-time job other than speculation, day trading will be hard to do. I think your 1-5 hold time is perfect for your situation.

Look into studying technical analysis. Learn price levels of support and resistance. Identify high volume areas and trade the charts. Make sure you develop trading strategies for each pattern you decide to trade.

If you are interested, I recommend reading How I Made $2,000,000 In The Stock Market by Nicolas Darvas. He has a very interesting theory called the Box Theory which he applied to the stock market. His timeframe was also similar to the timeframe you are looking at. The book taught me alot about understanding price levels.

[Stockaddict]

jacobnbr1,

If you don't mind me asking, what stocks do you usually trade? Do you have a select group of stocks you prefer? Or do you go where the action is?

Thanks