Do you regularly pick stocks for swing trading or for your position trades? You should perform this task several times a week or daily if you are really active trader.
The first and the most important rule for the best stock picking
The most important rule for you is to create stock picking plan and rules. You should have precisely defined rules that you will use for stock picking every time. You will repeat them all time you will want to pick a new stock for your swing trade, position trade or even day trade if you are a short term trader.
Next advice for stock pickers
There are many different rules you can use and incorporate into your stock picking for swing traders. If you want to make your stock picking really effective you should consider these 7 tips that make you a great stock picker.
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Keep your stock picking system simple
You can use many different rules, but my ideas described in the emails you will receive are proven tips based on my long trading experience.
You can always use more or less stock picking rules, but always try to keep your strategies and systems simple. The more complexity in your system could bring unwanted mistakes that will negatively affect the results of your real trades.
Test your system to pick stocks for swing trading
Testing is very important in trading business. You should not use something that you have not tested. Testing should show you what are the strength and weakness of your stock picking system and rules. You can use the results for tweaking your rules to find the optimal combination for your trading style. If your trading results based on your stock picks do not satisfy your need you have to think about your trading system and it includes also your stock picking rules.
Final recommendation for you
The best traders are also the best stock pickers. They created their own rules and do not depend solely on external sources or “hot stock picking” services. You can have a confidence in your rules, your trading abilities and your trading system only if you use your own system to pick stock for swing trading, position trades or for day-trading.