If you want to be a profitable swing trader and also want to beat the returns of major indices and then you need to learn to control yourself. In trading, a no trade day is also a trade. Remember, no trade is always better than losses.
“The market does not beat them. They beat themselves, because though they have brains they cannot sit tight.” — By Jesse Livermore
You only need a few days to get profitable in swing trading. It all comes down to position sizing and the risk management.
If you have taken a position that you want you to glued to your screen, then that means you have taken risk which is more than you could take. Always, have the position sizing in control. A good position sizing is when you don’t have to look at it every few minutes. You just buy a stock and put a stop loss for it and forget for that day. By forget, I don’t mean that you can forget it forever but for the day you took the trade. Since, you have taken the position for swing trade, you won’t be exiting it the same day.
I will write more about the position sizing and risk management in coming days. That will exactly, give you an idea of what position sizing you should take so that you don’t lose your peace.