I'm not even sure if Fibonacci is valid for short term. By short term, I mean anywhere from day trade to a couple weeks.
2006-07-28 05:50:03 · 7 answers · asked by Anonymous in Business & Finance ➔ Investing
TJ clarified my question: What I'm talking about is called "swing trading".
2006-07-28 06:08:10 · update #1
The question is about analysis, not about whether someone should or shouldn't swing trade.
2006-07-28 06:10:19 · update #2
Do not limit yourself to any one strategy. A good speculator has a suite of strategies and a strategy for switching strategies.
2006-07-28 05:54:14 · answer #1 · answered by NC 7 · 0⤊ 0⤋
It seems you have chosen your time frame. Better to remain flexible, and let the market tell you which is better for you. "Short-term is close enough.
The best way to do anything yourself is to learn something about it first. You'd be surprised at the thousands of books available on this one subject at your local library.
"Which Is Better, Buy-and-Hold or Market Timing?"
"Do You Have What It Takes to Be a Market Timer
The Beginner's Bible in Technical Analysis is:
Edwards & McGee"Tech. Anal. Of Stock Trends"
Droke, ClifTechnical Analysis Simplified
Kahn, Michael N.Tech. Anal. Plain & Simple
Kamich, Bruce M.How Technical Analysis Works
Lefevre, EdwinReminiscences of a Stock Operator
Lowenstein, RogerBuffet (Warren)-The Making of a Capitalist
O'Neil, William J.How to Make Money in Stocks
Oz, TonyHow to Make Money From Wall Street
Rotella, Robert P.Elements of Successful Trading, The
Schwager, JackStock Market Wizards
Schwager, Jack D.New Market Wizards
Sperandeo, VictorTrader Vic-Methods of a Wall Street Master
Wasendorf, RussellAll About Futures
Slutsky, Scot and Darrell JobmanComplete Guide to Electronic Futures Trading, The
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Try out your trading strategies on a Simulator at Investopedia.com
Oh, and by the way, the loser here that advised you to go see a Broker; forget that. A broker is a clerk, and knows nothing about trading. I have eight monitors, and still lost money for a year Day Trading. This month, I made $1600 on a $4000 investment. That's a 40% return in one month.
It can be done, but close to 90% of the traders lose money. In the end, it doesn't matter how many computers you have, but it depends on your discipline and how you approach risk, and how well you follow good principles of money management.
Just be prepared for a steep learning curve, and be prepared to lose it all before you learn. If you read the book "Market Wizards" you'll see that most of those guys lost it all several times before they finally figured it out. This is my third time.
If you're just doing it for the money, you will tire easily. But if you truly enjoy trading, give it a shot.
Good luck, and happy trading.
2006-07-28 18:47:28 · answer #2 · answered by dredude52 6 · 0⤊ 0⤋
Very few people... SMART people... manage to last long enough in the Stock Market to learn how to trade. I no longer day trade, but when I did, I used 3 computers with 3 screens and had one computer with running real-time quotes and the other 2 screes were tracking buys and sells. It was a full time 'job' that took all of my efforts 7 days a week and usually about 12 hours a day.
Do you REALLY think you would stand a chance trading against me?
If you want to trade stocks... GO SEE A BROKER because you need to know a whole lot more than you do now.!
2006-07-28 12:56:49 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Forget Fibonacci. It is a ruse. What you are is a momentum trader. Okay...use momentum indicators...
like
RSI
OBV
Price at Volume...
Find stocks that have trade above their 52-week high and make sure the OBV is trading into the next trading day.
Simple...
2006-07-28 16:35:27 · answer #4 · answered by Anonymous · 0⤊ 0⤋
What you are talking about is swing-trading. Two of the best professional traders/writers I know are Alan Farley and Jeff Cooper (in particular, Jeff's Hit-and-Run multiple-day setups).
Alan's Site:
http://www.hardrightedge.com/
Alan's Book:
http://www.amazon.com/gp/product/0071363092/sr=1-1/qid=1153925030/ref=pd_bbs_1/103-6188824-9275011?ie=UTF8&s=books
Jeff's Books:
http://www.amazon.com/gp/product/1592801986/sr=8-1/qid=1153924920/ref=sr_1_1/103-6188824-9275011?ie=UTF8
http://www.amazon.com/gp/product/1592801994/ref=pd_bxgy_text_b/103-6188824-9275011?ie=UTF8
They are both columnists at and have subscription services through http://www.thestreet.com.
Read what these guys write.
2006-07-28 13:05:06 · answer #5 · answered by TJ 6 · 0⤊ 0⤋
I don't know about investing, but you can use Fibonacci to unlock DaVinci's code!!!!!!
2006-07-28 13:02:41 · answer #6 · answered by Jules 2 · 0⤊ 0⤋
the importance of dividends
2006-07-28 12:55:32 · answer #7 · answered by Conservative 5 · 0⤊ 0⤋