Swing trader

Michael Krasinski - Swing trader
Michael Krasinski
Swing trader

Q: What makes you a swing trader?

A: I take short term positions on my trades. Sometimes I'm in and out in a day and other times I’ll push it to just over a week. Before I even enter my trades I have a price target. When my position hits that target I’m out. Just like that. I’ve set this as a trading rule and I make certain I never break it. If the price doesn’t reach my target then I’ll at the very least aim to close the position at a smaller gain or a breakeven.

Q: How much time do you spend trading?

A: I don’t put a set timeframe on my trading. Sometimes in front of my computer all day, tapped in, no breaks. Other times I’ll remove myself a bit and just check in on the markets periodically. And once in a while when I know it’s going to be a slow day, I’ll take a morning or an afternoon off. One way or another I keep my eyes on the market every day. It’s rare that I’ll take an entire day off.

Q: How long have you been a swing trader?

A: Easily over ten years. I’d like to think I was ahead of the game in opening an account with a discount broker - I was the first among my friends. It allowed me to be more hands on and ended up saving me a lot of money. Before my discount broker account I used to place all my trades over the phone. Sometimes 20 calls per day. That experience did give me gain confidence to eventually go the do it myself discount brokerage route.