I found some interesting ideas on http://www.swing-trade-stocks.com/ and did back testing and live trading. It is just over a month and the results looks promising. Any way, proper money management is the key. I will write an update about this later.
I have updated the portfolio also. I haven't done quiet a lot of trading during this time. Most of the stocks did well during this time, so I just purchased few more. I have opted for a fixed brokerage scheme with my broker, so I have to do a minimum amount of trading every quarter to take advantage of the schemes(One of the ways they make you trade more!) . Apparently when the market went south today, most of my stocks fared really well. I see it this way. My stocks are stronger than the general market and in my experience, if market continues to go down for another 2 days, these stocks will also give up and starts sliding down. That doesn't mean that I sell them today, Patience is the key here. Wait till it hits the stop loss, ignore everything else(financial TV, News paper, index etc)
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I definitely agree that Swing Trading is about the only way a private investor can get any kind of edge over the market. Scalpers burn themselves out and usually end up blowing up their trading capital in no time because of the high frequency of their trades.
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