Stocks & Commodities V. 31:12 (41-43): Swing Trading With Three Indicators by Donald Pendergast

Stocks & Commodities V. 31:12 (41-43): Swing Trading With Three Indicators by Donald Pendergast
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Swing Trading With Three Indicators by Donald Pendergast

Three, Two, One ... Liftoff!

You’ve heard it time and time again: You need to have a trading plan. But how do you create one? You have to start somewhere, and here’s one system that can lift you into the world of system traders.

Thousands of trading systems are available in the marketplace today; some are relatively inexpensive to buy or lease, while others cost several thousand dollars or more. These systems can be based on volatility breakouts, moving average crossovers, neural networks, genetic optimization, oscillators, and linear regression. But no matter how plain or fancy the trading logic is for a system, all that matters are your answers to the following two questions:

1. Is the system’s logic based on an observable (with my own eyes and a price chart) market dynamic that repeats again and again?

2. Will I be comfortable trading this system in the markets with real money on the line?

If you can honestly answer “yes” to the first two questions, you might also want to ask yourself a third question, which is:

3. Based on the system’s cost and ongoing maintenance fees (upgrade fees, data fees, training, and so on), is it cost effective for my trading account size, commission costs, and markets traded?

If you answered all three questions honestly, you can learn to become a consistently profitable trader, even if you use a simple system that you can create yourself using standard indicators found in virtually every popular trading/charting platform (and your own eyes).

A simple and visual system

Here’s a look at my simple, visually based “trading with the trend” system that is nonoptimized, noncurve-fitted, and is a no-brainer to construct and maintain. The key ingredient for success in trading with this template is you, because there are no secret market indicators or forecasting tools that can guarantee you trading success. But this no-cost trading template that is easy to construct will help you stay on track with the mental and emotional discipline needed to learn to trade profitably. After that, you may want to further fine-tune it by obtaining education in other market dynamics like relative strength analysis, money management techniques, price cycle studies, or wave analysis. (The Stocks & Commodities article archive has many articles on these and other topics.)

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