Comments on: Best technicals to use for short term trading? http://www.shorttermtrading.org/short-term-trading/best-technicals-to-use-for-short-term-trading-2 Learn Short Term Trading Like the Pros Wed, 05 May 2010 02:49:31 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Common Sense http://www.shorttermtrading.org/short-term-trading/best-technicals-to-use-for-short-term-trading-2/comment-page-1#comment-1336 Common Sense Thu, 29 Apr 2010 01:06:55 +0000 http://shorttermtrading.org/short-term-trading/best-technicals-to-use-for-short-term-trading-2#comment-1336 What you're looking to do is "swing trade". Like any other trading... the best "system" is the one you create for yourself. Tring to duplicate someone elses "formula" will only end in dissapointment. Having said that I use multiple time frames to find my answers. Fibonocci works for me on a retrace. Usually I look for 38% - 50% as my target....... depending on the momentum up. Some type of wedge or triangle or channel..... I will mostly use "buy stops" with a limit. There must be a breakout out of the indicator. I'll also look at a Schotastic for final confirmation. Keep it simple. Always use stops. Never believe anyone suggesting that they're "right" 80% of the time. Be happy with a win rate of 45% and above (with a win loss ratio better than 2 to 1). What you’re looking to do is "swing trade". Like any other trading… the best "system" is the one you create for yourself. Tring to duplicate someone elses "formula" will only end in dissapointment.

Having said that I use multiple time frames to find my answers. Fibonocci works for me on a retrace. Usually I look for 38% – 50%
as my target……. depending on the momentum up. Some type of wedge or triangle or channel….. I will mostly use "buy stops" with a limit. There must be a breakout out of the indicator. I’ll also look at a Schotastic for final confirmation. Keep it simple. Always use stops. Never believe anyone suggesting that they’re "right" 80% of the time. Be happy with a win rate of 45% and above (with a win loss ratio better than 2 to 1).

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