Why you should learn to swing trade, even if you have a busy life

I tried day trading once. I tried to fit in between working 60 hours a week, non-stop meetings and phone calls, coaching, volunteering for the school, etc. Let’s say it didn’t work. He was too distracted and didn’t know what he was doing. I lost a loss of money very quickly.

I almost gave up on the stock market forever. I decided to look more into swing trading. Fill positions that are based on appraisal and take a little longer to develop. It was the best decision I’ve ever made. I loved. He hated the volatility of day trading. It seemed superficial to me and did not fit my personality. But swing trading suits me perfectly, and here’s why:

1. It takes a fair amount of work to find good trades. You have to learn technical and fundamental analysis, and be able to scan stocks to find the requirement you like. Then you need the patience to hold onto them until your trading plan comes to fruition. I liked it much more because the research I did gave me a sense of accomplishment that I had never felt before.

2. You don’t have to quit your day job. Swing trade stocks generally move more slowly and take a little longer, so you don’t have to be glued to the computer. Set automatic stops and profit triggers and let the trade come to you. I check my swing trades 2 times a day on my iPhone just to make sure everything is going well. This provides incredible supplemental income for me and my family to take extra vacations and have better things (and maybe retire a little earlier).

3. You can sign up for a relatively cheap watchlist service and get great ideas from a professional. They are usually of a slightly higher quality than day trade watches. However, never take a watch list as gospel. Use them to get ideas, but do your own research. I enjoyed doing the background research because I liked to feel 100% sure that I knew exactly what I was trading and why.

4. There are many good and bad teachers out there. It takes a bit of time and research to find the right mentor, but when you do, you can really take your trading to the next level. Do your research and when you’re ready, invest in yourself.

Thank you,

ryan townsley