Do You Need A Swing Trading Guru ?
What I notice every time the Dow Jones comes trades down a few hundred points, there's no shortage of experts or guru's who come out and begin making very strong statements about the future of the stock market and the economy in general.
There have been at least 2 dozen reports from so called Swing Trading Guru's, Advisers and Experts that the stock market is crashing in the last 30 days and I'm expecting this trend to increase as funds initiate more computerized buy programs on a daily basis.
All you have to do is go online or check out your local newspaper and you will see quotes from dozens of swing trading guru's.
"5 Signs Stocks Will Collapse in 2013" - Money News
"Stock Market Crash 2013" - Triangle Wealth Blog
"Stock Market Crash 2013" - Pinnacle Digest
"Stock Market Crash Prediction 2013" - Advisers Perspective
"A Massive Stock Market Crash is Imminent" - Before It's News
"Markets Will Blindside Investors In 2013" Money Watch
As you can see from the quotes above, there's no shortage of experts or guru's who think they can predict where the stock market is going next. What's interesting is we tend to see these announcements at times when the market looks like it is making new high in price.
It's almost as if the experts pick the worst time to scare the public into getting out of the markets. Here's my take on all of this, whether you listen to my advice or ignore it is entirely up to you, BUT I have been trading for twenty years and I have seen many bullish and bearish market trends.
I have also monitored, and subscribed to many "swing trading guru services" in the past, especially when I was starting out.
When I first started out, I was rather naive about the type of help that was available to traders. In most professions, when someone tells you they know something, they usually have some degree of experience in that field.
They may not be the best, but people usually know something before they get involved in a business.
I'm going to tell you from many years of negative experiences, that I never made one penny listening to any advisory, guru or expert trading service that advised me what position to take.
You need to learn how to use indicators and apply them in a way that makes you feel comfortable with the decisions you are making.
Trading has to come from inside of you, no guru or expert can guide you in the right direction. These experts or guru's take advantage of people during times when markets are volatile and people are scared or concerned about their positions. When people are scared they are vulnerable and when they are vulnerable they make bad decisions.
The best type of trading advice I can offer you is to learn how markets work, learn about risk, position sizing, expectancy and proper money management methods. These tools and skills will help you make decisions based on logic, mathematics and reality and not some opinion from someone who wants to take advantage of your mental state.
Don't fall for this trap and take control of your financial future. Learn how to make your own trading decisions and become an independent thinker. No one will help you make positive changes until YOU decide to do it.
If you want to build real market knowledge then forget about all the trading experts and the swing trading guru that scares you into listening to them every time the market adjusts or corrects itself.
Wishing you all the best in your trading,