Brian Pezim: Swing Trading and Trading Psychology.
Brian is a retail trader who placed his first trade in 1967. Brian still actively trades, is a mentor at the Bear Bull Traders community and is author of ‘How To Swing Trade: A Beginner’s Guide to Trading Tools, Money Management, Rules, Routines and Strategies of a Swing Trader’.
In this episode we had a rich conversation with Brian covering a wide range of themes including:
- How Swing Trading enables a trader to take advantage of short-term trends, longer term trends, and over-extensions.
- How people can identify which trading style is best for them.
- How swing-trading enables a thought out trade process that is easy to fit into a lifestyle where you have other priorities which require your time.
- Fishing for ideas by using approaches which scan thousands of stocks using scanning tools and exchanging ideas with others whom you trust and identify with.
- How to make sense of the ideas by doing your homework, developing a fundamental understanding of markets and conceptualising plans for the trade.
- The importance of having a fundamental understanding of background and context to a market or sector, and understanding where and how money is rotating into and out of sectors.
- The psychological challenges of sticking with trades and not taking profit early so that performance is compromised.
- Improving the psychological aspects of trading and working on fighting human nature and mental state.
- The importance of balance in your life, healthy lifestyle, physical health, managing your day, staying mentally healthy.
- The huge importance of having a Risk Management process.
- Being able to continually adapt strategies to whats working and current.