Says swing trader Dave Landry: “Markets can go up, markets can go down and markets can go sideways. If you are to be profitable, you need to buy at one point and obviously sell at one point higher. And if you just focus on the charts and the chart patterns, your life gets a lot easier doing that.”
Big Saturday Interview This week’s Big Saturday Interview features a conversation with long-time TradingMarkets colleague, author and swing trader Dave Landry. Hear more than a few words of wisdom from Dave’s latest book, The Layman’s Guide to Trading Stocks.
Traders ask me all the time about what my money management strategies are. The good news is that for most traders, money management can be a matter of common sense rather than rocket science.
Drawdowns are inevitable in trading. Therefore, when faced with a drawdown, we must take action to help minimize it. Here are some steps we can take toward recovery.
Money management is the process of analyzing trades for risk and potential profits, determining how much risk, if any, is acceptable and managing a trade position (if taken) to control risk and maximize profitability…
The only negative is that commodities remain generally strong. I suppose there’s always something to worry about…
The market remains in an uptrend…
The trend remains up.
Trade in the direction of the major trend.
The trend remains up. However, the market is due to pull back