The short list:
A) A good sense of history . The idea is to not have to make a ton of decisions about trading, but to be able to get things right in the short-term when they need to be changed. It is often tempting to do things like “put in a bet” on a stock that could lose a lot of money and then not do anything about it until later when the stock is already back in the blue. This is a bad idea due to a large margin debt involved, but not so bad due to the short-term thinking involved.
Note that in addition to the risk involved with betting on a stock you might have to make some decisions about the timing in which you buy and sell. In the case of a bet like this, you would want to get into the market when the stock is a bargain.
B) The ability to identify opportunities . Traders do many things on the margin side of the trade. First, they are supposed to be able to identify opportunities to take advantage of, so this one is very helpful.
C) The idea to “trade like a trader”. The idea is to take advantage of opportunities in an orderly fashion in order to generate profit as fast as humanly possible. For this I would consider it essential for swing traders that they have good understanding of how to trade the margin side.
This is the point you must make if you are going to be a successful trader. What has caused the biggest increase in the price of a stock? The reason is not something a trade is supposed to try to find out for you, the question is “how can we find out about it?” A trade should not look out for an obvious answer, but rather for opportunities.
The next most important decision that you are going to need to make is what to use as your margin. For some traders this is all they have. Others have a very good understanding of the markets and what is happening in the economy, and will use a very large amount of margin simply because they have that understanding. In which case you are looking for people who have that understanding. I don’t think anyone who has been buying and selling stocks on margin should be looking for a swing trader. They should be trying to understand how to trade stocks, or the market, or whatever. They should also have the ability to trade the stock in question if needed, but not necessarily an ability to buy the stock at the top and sell it at the bottom. These are the
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