What makes a good Swing Trader? — Patience
$LYFT breaking out today
One month, that’s how long ago I posted about $LYFT being at a good price. In that time we had some minor breakouts that never took hold and quickly dropped back down. Most would be deterred and consider this pick a failure, but this isn’t day trading, it’s swing trading. Trades can last weeks or even months depending on how that particular stock moves — some make very sharp quick moves like a jackrabbit (I try to avoid these erratic stocks) and other are slow and steady like the turtle (these are the ones I prefer).
The key thing to remember is that if you believe in the setup and the data is there, these pullbacks are the perfect opportunity to add to your position at a great price. As long as the company fundamentals haven’t changed drastically and everything you originally liked about the stock remains true, then the stock you liked at say $10, you should LOVE at $8.
You can read my original post about why I liked $LYFT here:
HOMEWORK
Here are some other setups to checkout. Your homework, should you choose to accept it, is to look over these charts, read some articles, and check TipRanks and Morningstar to see what analysts have to say about them.
$FUBO
$OSTK
$TTM
$ZIM
$ARKK
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Trade long and prosper!
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