From day trading to swing trading

J

JPB

I'm not sure if this is the right forum, but here's a question. I haven't been on ET for many years. I originally quit my job to trade full time in 2001. I did the normal route - underfunded, etc. I lasted about 1.5 years before I realized a "real" job is easier. I have never quite got over the "what if" though. I now would like to try swing trading on the side, not as my primary income now that I have a wife and kids.
Has anyone successfully made the transition? If you are old enough to remember, is there anything new I should be looking out for?
Thanks for any advice.
-JPB
 
Wouldn't bother with Swing personally, it takes up a lot of time research wise, a lot of stress worrying about how a stock is going all day long, I presume swing stocks that's what most do.

Prefer to daytrade, even if you only have an 30mins occasionally, get in, make some change and get out, switch off.
 
Turveyd said:
Wouldn't bother with Swing personally, it takes up a lot of time research wise, a lot of stress worrying about how a stock is going all day long, I presume swing stocks that's what most do.

Prefer to daytrade, even if you only have an 30mins occasionally, get in, make some change and get out, switch off.
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You are assuming the OP is speaking of stocks. He/she may not be speaking of that. :-)
 
Overnight said:
You are assuming the OP is speaking of stocks. He/she may not be speaking of that. :)
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Presuming as stated :) obviously if he wants to give more info it would help.

I was a great swing trader of stocks, but the hours of research and chart scanning, just killed me, be warned as it'll get addictive.
 
Start out daytrading, and then one day when you have a big loss, just don't close out and hold overnight. Now you are a swing trader. If one trade goes against you so bad it probably won't recover, then just hold it and become a buy and hold investor. There is a name for every trader with a bad position on.
 
java said:
Start out daytrading, and then one day when you have a big loss, just don't close out and hold overnight. Now you are a swing trader. If one trade goes against you so bad it probably won't recover, then just hold it and become a buy and hold investor. There is a name for every trader with a bad position on.
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Nahhh real day traders run there margin so close to the max, any even small move kicks them out, atleast that's how I trade it, I leave 8% in the account for Margin, max loss 8% on any trade, easy :)
 
Swing trading is alive and well - working just like it did in 2001. My prep time for swing trading only takes about 2.5 hours on the weekend and approx 30-45 minutes each week day. I only go into the market near the close when an entry signal triggered. It takes time to get into an efficient grove - for example I have auto scanning/auto scrolling so I do my research hands free. I can play my guitar and let the computer auto scroll through charts. I use a voice recorder to note charts of interest. Than I have tons of prebuilt bracket orders so one click and my orders are in - I aslo have my stop adjustments to move with price automated. Basically I am like an admin/accounting person working a part time job - lots of time to get out and do my ocean sports year round - that is why I trade, to have my own schedule.
 
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Old enough to remember. Don't quit your day job, just do swing trade on the side. As the comagnum said, it is not that different compare to 2001.

Seems to be a natural progression for me: Unprofitable day trader, so switched to swing trade (just like java said:banghead:). Now I am a happy "swing trader" of options (since 2013).
 
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You gotta remember, back in the day trading craze stocks were moving in excess of 30% a day, sometimes way in excess. There just wasn't any time left for a real job.
 
Turveyd said:
Wouldn't bother with Swing personally, it takes up a lot of time research wise, a lot of stress worrying about how a stock is going all day long, I presume swing stocks that's what most do.

Prefer to daytrade, even if you only have an 30mins occasionally, get in, make some change and get out, switch off.
More...

If you're going purely technical, it doesn't take that much time to filter if you can automate some or most of your selection strategy.
 
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