Right, so it's a discretionary system where fundamentals play a deciding factor.
If you are a day trader with a persistent edge, are you a millionaire yet?
- Thread starter Blitzjoker
- Start date
No it's a rule based TA system. I have to look up the ticker to see what it is the company does.
Absolutely my friend, don't let any loser tell you otherwise.
Which is contrary to “100% price action based”. While I don’t think @deaddog has bad intentions, spouting this stuff is going to give false hope to people thinking that all they need is a chart and some capital lol. Just be honest and realistic - trading is very hard, there are many variables, and successful traders appreciate the challenge and prepare for them.
Well its has similarities to what I do.
I trade systematically via algos, rules based, but discretionary comes into play because I need to filter out via using fundamentals - 'What does the company do'.
Example: If my algo highlights a Co., I then do a very quick double check on chart, then check what company does, if it manufactures broom handles I will not buy into it.
I don't care if it makes buggy whips. I'm buying because it is going up in price on volume. I'm not planning on keeping it very long.
But I thought you said you were a longer term swing trader?
Are you serious about charts only longer term trading?
Fundamentals are noise to a short term trader.
If you are investing; by all means look for a great company with growing earnings and a wide moat. But that company's stock price will fluctuate as the markets perception on it's value changes from day to day. I just try and take advantage of the opportunities that fluctuation presents.
Whether the fundamentals are good or bad the price still fluctuates.
Yep I'm serious!!
I buy momentum. The stock is rising in price. As long as the price continues to trend I'm staying in the trade. I've held stocks for years because they never gave me a sell signal.
Fundamentals are noise to a pump and dumper.