sorry for the delay. Is swing trading an interest ? It's something I enjoy. FIRE probability on your side, not going to win them all- anyone that tells you otherwise? run like the wind. ALWAYS a stop loss intact. Full disclosure, i did take a position in XLV. DID NOT use a leveraged product as felt the signal wasnt that strong. I always re-evaluate my decision after it all plays out-win or lose. It's how we grow, we learn.
looking at this play, what COULD I have done differently? I took the position because:
-the overall market is trending up
- a green hammer candlestick is bullish, the longer the tail the better
-it hit support and rebounded, violently.
the next day's candlestick was disappointing and i knew trouble was on its way. BUT, could not lose more than 1% of my trading account. My stop loss was BELOW resistance. Have not been stopped out yet.
what i could have done differently? WAITED one more day. The next day candlestick to be a higher high and higher low. 'confirmation' of a swing low , as they say
what am i buying? i swing trade etf's and sell calls on etfs. I do not deal with individual stocks. Have ZERO interest in fundamental analysis (reading a compnay balance sheet, competitors, speculation...etc etc)
that said, there is a sector I hold a position in long term-- Cannabis . Hold the etf from Horizon
best wishes bro