Cocoa Price: Latest Price & Chart for Cocoa - NASDAQ.com
The phrase “investor horizon” attempts to describe how long an investor, or trader, plans to hold an open position. Investor time horizons can vary greatly for each individual. Let’s consider a few broad categories of traders:
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The New Highs/Lows page provides access to lists of stocks that have made or matched a new high or low price for a specific time period. Stocks must have traded for the specified time period in order to be considered as a new High or Low.
The time frame approach is a technique where you analyze a market over two or more time frames. If you normally analyze a five-minute chart, you should analyze the hourly one as well. If you are a daily chart trader, you should analyze the weekly or even the monthly for comparison. This will help you better forecast the market and trade more effectively.
Again, other methods for determining the weekly trend can be used instead of using the MACD(1,65,1) zero crossover on the daily chart. We will use that technique in this article to simplify the charts and discussion.
Every day when the daily candlestick is closed and the new one is opened, I refer to the daily chart and check the candlesticks. Sometimes I can find a strong trade setup that shows the direction of the market during the next day. I take my position (set a pending order sometimes), set the stop loss and target and I come back the next day. I do not spend more than 30 minutes a day to analyze the market. I check the daily time frame of over 15 currency pairs, and usually I am lucky enough to locate some good signals (trade setups) every week, which is more than enough. Of course sometimes I check my positions a few times per day, but it doesn’t take me more than few minutes to do that.
I prefer to watch the 5 for the most part, as I consider it most reliable for candle closes, pattern breaks, confirmed breakouts, etc. However, I venture to the 1 and 60 very frequently. I also visit the 15, 30, 120, 240, 300, d, w, and m charts on a fairly regular basis.
Trending Strategy: Swing highs in an overall downtrend form at the end of retracements. Traders could take a short position once a swing high is in place and momentum reverses back to the downside. Indicators and Japanese candlestick patterns could be used in conjunction with the swing high to increase the chance of a successful trade.
How to be a trader: What it takes to become a trader
Scott Tafel is the founder and principle partner in Falcon Trading Systems: computers for traders. He has been a trader since 1999. Mr. Tafel spent 27 years working in the Nuclear power industry, principally as a Nuclear Reactor Operator.
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While reading, I realized that almost all the findings in the book could be applied on a personal level as well. (I’ve even written about The Hedgehog Concept here before .)
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