Here I break down the different steps toward becoming a trading master, show the goal for each step, show how each step provides practice, and show a recommended approach for each step.
The first step in the trading process each day is to consider the market state. With this step, you look to see if the market is good for initiating buys, initiating short sales, or neither. The key is that you are looking for times when it is good to be initiating a trade. You are not trying to figure out if the market is heading up or down. You are trying to read the market, not necessarily trying to predict it.
The best swing trades are initiated when the market exhibits all the following ...