Hey friends!!
I am a long-term trader who do not have any expertise. My plan is to buy at a low and sell at a high, but it takes a lot of time and patience, so I decided to start short term trading. My friend told me that using the Fibonacci tool in conjunction with price action is the most successful trading method. I'm attempting to investigate and learn about it. Can someone suggest a good instructional video or book to help me learn both?
Thank you!!
If you are a day trader or a scalper, you are a short-term trader. Both are difficult to accomplish because your position will be on for minutes to several hours. This is extremely risky because a minor percentage increase in price will gain you a lot in a matter of minutes or hours also if the price decreases. If you want to be successful with something, don't just blindly accept what others teach you. If that strategy works for him, it may not necessarily work for you since we have different market execution even though we have the same strategy. That is, before funding the account, you must back test the strategy numerous times to ensure that it truly works for you.