Use a limit price to place a swing trade purchase order. The limit price allows the brokerage firm to purchase the stock for you at a price lower or equal to the price you set.
A limit price set to sell a stock allows the brokerage firm to sell the stock at a price higher or equal to the price you set.
How do I place an order for swing trading
To place a swing trade order to purchase stock before the market opens,
You analyze the daily chart and if you see the 1st green price bar after a pull back on an uptrend line, you can place the order to buy some shares.
You can set a limit price to equal the lesser of the current premarket price or the price at the closing of the market the day prior.
When the market opens, if the stock price goes down to that price, the brokerage firm will buy the stock for you.
Around noon after the stock market is open, you can review your swing trading portfolio.
If there are stocks that have unrealized gains that exceeded the minimum profit per trade goal you set, you analyze their charts to decide whether to sell them.
If you decide to sell them to lock in the profit, place an order to sell each one of these stocks.
Set a limit price to be the same as the current stock market price. Review your request and place the swing trade order.
Analyze the stock chart of the stocks you picked from your stock watchlist to swing trade that day.
If they started to go up and display their 1st green price bar after a previous day pull bar (red bar), place the order to buy them.
During your purchase requests, set a limit price to equal the current stock price for each one of these stocks.
If the price reaches that level, your brokerage firm will purchase them for you.
At the end of the day, after the market closed, pull your account daily transaction from your account history, to review stocks that were purchased and the ones that were sold.
Record them in your swing trading worksheet.
Analyze the chart and pick stocks for the next day when the stock market opens.
How much to spend per trade in swing trading
To buy stocks for swing trading, you can set an amount to allocate per swing trade. The amount will determine the number of shares to purchase.
Alternatively, in addition to allocating an amount per swing trade, you can also use the minimum profit target to determine the number of shares to purchase to reach the profit target.
Conclusion: How to buy stock for swing trading-How do I place a swing trade order-How many shares to buy?
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