Beginners Swing Trading Bible

Section 1 Welcome to your new business

It all starts with you

It all starts with you. It also ends there if you’re not diligent in what you do. You are the one who is making the decision to get into the self-directed trading and investing business. No one is making you do it. This is a big step for someone to take the plunge into the world of making money with money.

One has to look inside one’s self and ask some very hard questions before they start driving their own money train down the golden tracks to riches in the live financial markets.

You must have your goals determined before you ever even study anything or do anything in this business. To not be prepared is like placing your hand into an open flame. It’s very hot and you’re going to get burned. Same thing can be said for going into the live financial markets and not having the proper training. Only one thing will happen. YOU WILL LOSE ALL OF YOUR MONEY!

The best advice I can give you is not to enter the live market with real money until you are ready. It’s really that simple. As I said no one is making you do this business. You are the one who is in control of what you are doing, so have some. Entering the live market and using real money before you are fully ready and confident enough to do so will only cause you to lose money and question your skills. Trust me on this! I went down 4 grand of my real money account because I did not listen to this advice when I was first doing this business. I wrote this book in hopes to save you some money.

You should already have all the skills needed to be successful in the live markets before you enter. The people who are already in there are professionals who are ready to take advantage of new traders and take all their money. Don’t become one of the sheeple of the herd.

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What you need to do first

You will know in the first couple of pages of this book whether you want to pursue this business or not. There are quite a few things you have to make decisions about before you even begin your pursuit of education and learning and I give you the right information in order for you to make the right decisions from the start.

The road to success in investing and trading is paved with the smoking blown up accounts of investors and traders. It did not have to be a long hard and expensive road. It can be a road paved with gold and be fairly easy if you just take time to learn this business the right way from the start on your first day.

I hope you find Beginners Swing Trading Bible inspiring tell others and then use it as a starting point in your new endeavor in having your own investing and trading business whether you are wanting to do it for your living or you are doing it for passive income to supplement your retirement or to gain personal long term wealth.

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Know what you want to accomplish with trading and why

The live markets are an intimidating and brutal place for someone who starts off with the wrong information. They can be a mysterious, murky, and complicated place for the ill advised. By following the advice in this book and keep it simple and taking very slow and absorbing every detail you can have the best chance for a high probability outcome as a successful market participant. Make no mistake the market can make you lose your mind, burn your soul, and help you to lose all your money if you are unprepared and have no plan.

After reading this entire book you will be able to make the first decisions as to what you want to study and how you plan to do your education in order for you to be able to make your own self-directed investment decisions with real money in the live markets. You will be able to pull the trigger without hesitation by doing what it says in Beginners Swing Trading Bible.

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Begin with determining and setting all your goals

To do the right type of education and training you need to ask yourself some questions first. What are my goals for entering this business? What kind of time do I have to devote to learning this business? There are some tips at the end of this book to help you with planning how to use your learning time the best way if you have a limited schedule when you first start the learning process for this business.

How long does this education and learning take? There is no timetable set in stone. As someone new to this business it is critical you have all the information you need, and that you fully understand it and are able to act on it in the real-time live markets with real money. Going into the live markets and using your real money to invest and trade without fully educating yourself is like playing Russian roulette with a completely loaded revolver, why would you do that to yourself?

It is critical to know this information first in order to plan out what type of education and training one will do when entering the learning phase of the knowledge curve. There is a lot to know to be successful in the investing and trading business so it is crucial to know what type of market participant you would like to be in order to not waste any learning time (or hard earned money) for that matter.

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Think about how you’ll get what you want then go get it

Other questions that need answering are: What do you want to be? Are you going to be a Forex trader, stock trader or a futures trader or all of them? Having the answers to these questions will make it much easier on you in the long term success of your business. It will also help you to be able to build a trading plan to achieve your desired goals. Build your trading plan around your desired way of trading.

Maybe you want to be a day trader and take positions intraday and be out of them by the end of RTH. You would need to be utilizing a good platform which can handle executing positions in the live market which can place the position, stop loss, and profit target for the day all in one click of the mouse.

You can also become a swing trader and hold a position overnight up to a few days or so. You would need to have a large enough account size to enable you to cover the overnight margin of whatever instrument you are trading if it is a futures contract. Swing trading also requires you to have a very solid trading plan as to what you are going to do when your position approaches its profit target.

You can also become a position investor and trader and keep positions for a long term time horizon. Most position investors and traders are in a position for months and sometimes years. These are the most successful consistently profitable money making investors and traders in the business. It is this type of investing and trading which over the long term makes the most amount of money.

I can’t stress enough how crucial it is to really think things through before doing anything when entering this business. The outcome of not thinking about what you want to get from investing and trading can be a very long and expensive road. It can also be a road paved with gold if done right.

Let me ask you a question. What is the best job you never thought of, is it day trader or swing trader? Is it equities investor maybe? Maybe it’s a high frequency day trader or money manager/day trader, risk manager/day trader? No MBA needed here!!! Hell no clothes needed for that matter! To be a great investor and trader you have to get past the idea that having and making a lot of money are the only ways to happiness. Once you get past that thought process you can and will become successful.

You want to learn to trade and invest right? You want to make money and have a lot of freedom right? Do what it says in this book and you can be on your way to giving yourself and your family the best life you could ever imagine all from the comfort of your own home, perhaps even in your pajamas. The markets are there for people to make money every day. All you have to do is learn what to do the right way from the start and then go in there and get it.

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Section 2 Training and education

Getting the best education and training

As a professional investor and trader, I felt it was time to show that most learning by new people in the business can be very easy if they learn what to do the right way from the very start of their education process. What this book is going to tell you is how not to make the mistakes that most new investors and traders make that cause them to lose money right away.

When I first started out I knew about day trading and investing however I had no practical knowledge of the actual practice of doing them. One of the guys at my cigar club is a contractor and had a buddy who was a day trader who traded grains. He brought the guy up to the club one night and I asked him a few questions about day trading. He told me that most of it was common sense however there was some technical things that I would need to study and learn before I could begin to make any money. Little did I know!

I got to know this trader a bit and he offered to show me some things. He showed me his charts and over a few times of getting together taught me the basics of how to read them. That is really how I got started in the investing and trading business. I then went into the online world and began to search out the education I would need to gain the knowledge that my trader friend said I would need to be able to really do it as a business. I just started searching for all information my trader friend said I would need to learn and just started to learn.

As I went further and further into the online world I found out there are all kinds of training and information available online on the internet about day trading and investing and I had no idea what I was in for. The sheer amount of data that is out there is huge. It is overwhelming actually and it is easy for new investors and traders to become completely lost in the very beginning. A lot of times it is called analysis paralysis in the business or data overload.

I had no idea really at first of what I wanted to do or to trade. I knew I had a lot of decisions to make though. Everyone has to start somewhere with trading and I wanted to know as much as I could.

When I was doing my education for this business because I was new and even though I had a little help I learned a lot of information that did not help me in how I run my investing and trading business today. As a matter of fact, I had to unlearn about 95 percent of what I had learned because it wasn’t unrealistic to do in the live markets. The information in this book is meant to help people who have no education yet and are just now starting their learning process.

The content in Beginners Swing Trading Bible is unique in that the information being shared here is all in one place at one time. Most of us who do this business professionally are counting on the inexperienced to make all of the mistakes that this book details. It is how we make our money. We buy and sell from the retail investor and trader who have not taken the proper steps to become prepared to be successful in this business.

My main goal here is to suggest the best educational sources and equipment that you can use in order to give you the highest probability of having a positive outcome as a market participant. When I give a reference I will put the web link to it and also tell you how to find more information and even how to word the search string for your search engine of choice. Doesn't matter which search engine you use as they all lead to the same data. I give you specific actions you can take to know what to do before you ever start investing or trading with real