Chapter 1
Swing Trading from A to Z
IN THIS CHAPTER
Contrasting swing trading with other types of trading
Deciding how much time you want to devote to swing trading
Getting strategic by preparing your trading plan
Avoiding the mistakes that many swing traders make
You can earn a living in this world in many different ways. The most common way is by mastering some skill — such as drugs in the case of pharmacists or coding for web developers — and exchanging your time for money. The more skilled you are, the higher your compensation. The upside of mastering a skill is clear: You’re relatively safe with regard to income. Of course, there are no guarantees. Your skill may become outdated (there aren’t many horse carriage manufacturers operating today), or your job may be shipped overseas. You also have a maximum earning potential given the maximum hours you can work without exhausting yourself.
But there’s another way to make a living. Swing trading offers you the prospect of earning income based not on the hours you put in but on the quality of your trades. The better you are at trading, ...
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