Know when to hold 'em Know when to RUN!

[DBL07 0]

I'm new to day trading. I did decent with swing trading last 2 years, but I want to learn from my mistakes. I "swung" into Tesla last year at $830, then the bottom fell out. So I stopped swinging 🙂

I want to learn how to read this chart so it doesn't happen again. (I'm still going through at all classes etc) But for those of you with some experience when you look at this chart, where are the Red flags that I should have been looking for to get out and stay out and when to get back in?

THX!!

[Alastair 114]

From wht level/price do u want to read  the chart / candles ?

[DBL07 0]

ha I bought in at $830.51 and when things went south, I just held until a few weeks ago when I began to day/trade a little and as of today's crazy $1045 price, glad I hung on to the bulk of my shares, but I would have liked to have been out in the $800's so I could have avoided the dip down to the $580's so I could have bought up some more.

As for "stop loss"... well as I'm learning here, I had some mental/physiological issues that made me remove them as it was falling because I was a dumbass and too attached! 🙂

Like I said, I want to learn and become more disciplined in studying charts.

Thanks for sharing your insight!

[vchandra11 8]

Hi there

Welcome to swing trading. It can take a few months to a few years to start getting some success in high probability trades. This is initially best done under a mentor who can help you to prepare a swing trading plan.

Attached is example of my typical preliminary analysis of TSLA for intermediate-term swing trading around the period of your trade. As you can see my projection was to sell when you were buying.

You can see the analysis can get quite involved. TSLA is not on my swing trading watchlist because it did not meet my fundamentals criteria for high probability swing trading. However, TSLA is a popular trading vehicle.

Please note this is not an investment advise. Please obtain advise from your own investment advisor. The notes and illustration herein are for illustration and discussion purposes only on BBT Forum.

Example - Preliminary Graphical Analysis - TSLA - Fundamentals.pdf Example 1 - Preliminary Graphical Analysis - Calculations- TSLA.pdf

[vchandra11 8]

Hi there

Attached is typical preliminary graphical analysis for second opportunity to swing trade TSLA.

Please note this is not an investment advise. Please obtain investment advise from your own investment advisor. The notes and illustrations herein are for illustration and discussion purposes only on BBT Forum.

 

Example - Preliminary Graphical Analysis Calculations- TSLA.pdf