There a lot of people with potential out there in people who want to get into trading and want to become the new Wolf of Wall Street and why not? It’s a good life. Well don’t fear because we are here to guide you. Trading of stocks can get easy with time but initially it’s a tough job and requires a lot of brainwork and knowledge. You need to have proper knowledge of the market and need to be always updated about the news. You also need to know the right people who will give you there expert views and get the news before everyone else.
Every trader needs to start slow and first get the required knowledge and experience in the field and the best way to do that would be swing trading. Swing trading is process of trading stocks to earn a profit based on technical analysis and temporary fluctuations of the values. It requires you to hold the stock for about a weak or sometimes even just a fortnight. It’s a pretty simple method to trade and has a slight risk involved with it.
TRICKS TO REMEMBER WHILE SWING TRADING
Always remember to focus on the basics and recognize support and resistance levels on the chart and is one of the most important points of chart reading. Most people forget about this and make a mistake.
You also need to learn to analyze swing points on a chart because ths is what makes the difference but not all swing points are the same and you need to realize when to buy and when to sell.
Make important notes of wide range and small range candles. The wide range candles cause the reversals in the value and the small range candles causes explosive bursts in one direction in the value of the stock.