How To Swing Trade As A Beginner Investor (Girlfriend)

TL;DR

Ricky discusses his swing trade on Urban Outfitters with lessons on position sizing and managing trades that don't go according to plan.

Transcript

hey what's going on team it's ricky with tackle solutions and first things first if you guys want to see continuous updates on this swing trade with my girlfriend on urban outfitters please make sure that you all you have to do is drop a thumbs up and consider subscribing i actually made this video with my girlfriend about two and a half weeks ago ... Read More

Key Insights

• 🧘 Position sizing is crucial in swing trading to manage risk and handle trades that don't go according to plan.
• 🧘 Adding to a position can be a strategy to capitalize on an uptrend, but monitoring the trade's performance is essential.
• 👻 Patience is important in swing trading, allowing for opportunities to present themselves and adjusting strategies accordingly.
• 😥 Support and resistance levels play a significant role in determining potential entry and exit points in swing trading.
• ™️ Managing emotions and psychology is important in swing trading, especially when trades don't go as expected.
• 🫥 The SMA line can be used as a potential exit point, even if the initial target price is not reached.
• ⚾ It is important to be adaptable and adjust trade strategies based on the market's behavior.

Questions & Answers

Q: How did Ricky decide to buy Urban Outfitters during the swing trade?

Ricky selected Urban Outfitters from a list of options provided by his girlfriend. It wasn't as risky as other options and seemed attractive to him.

Q: Why did Ricky choose a light position size initially?

By choosing a light position size, Ricky could tolerate any potential pullbacks and manage the emotional and psychological impact of the trade not going according to plan.

Q: How did Ricky decide to add more to his position size?

Ricky added more to his position size as the trade indicated signs of an uptrend and showed signs of growth, giving him confidence in adding more funds to the trade.

Q: How does Ricky manage his position size when the trade doesn't go according to plan?

Ricky adjusts his position size based on the trade's performance. If it continues to sell off, he reduces his position size to avoid having a large position on a losing trade. If it indicates signs of an uptrend, he may add more funds to the trade.

Summary & Key Takeaways

• Ricky discusses his swing trade on Urban Outfitters, highlighting the importance of staying well balanced and comfortable during a trade.

• He bought Urban Outfitters during the rejection phase and consolidation phase, with a position size of $10,000.

• As the trade indicated signs of an uptrend, he added an additional $40,000 to the position, but is still monitoring its performance.