Essential Skills for Swing Traders: Part 1
We like emphasize the key elements of time, price, and scaling into trading positions when formulating some our popular trading strategies. What we refer to as Scale-In Trading has proven to be one of our most successful strategies taught by the Connors Research team, and has gone through a long development history that traces its roots back to the early professional trading careers of our company founders.
Instead of impulsively allocating all of their money in a promising security, professional money managers around the world would learned through experience to buy an initial position, and then wait for the stock or ETF to further drop in price so they could purchase additional positions as it became more oversold. If the security rallied immediately they had their gain and would move on. But if they were able to add additional positions at lower prices, they could wait for a pullback to revert and as a result secure significantly higher gains.
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While some of those managers held their positions for the longer-term to appease their clients, we prefer to focus and tailor our trading strategies around efficient and systematic trades for the shorter-term. That means using exact entry and exit levels dictated by decades of backtesting and research, and relying on one of the most powerful swing trading indicators currently available: ConnorsRSI.
The proof lies in the test results, which have shown that this strategy can yield substantial gains – especially when trading ETFs. Scaling-into pullbacks with a limit order is one of the essential concepts behind successful swing trading.
This is just one of the core skills you’ll learn at the upcoming Swing Trading College, where the Connors Research team will be teaching a comprehensive set of trading strategies and concepts to apply to your swing trading.