The topics of projected targets and entries for shorter term CFD trading are covered by two experienced traders, Stuart McPhee and David Jenyns.
David: We have been asked the question: ‘Do you use projected targets such as Fibonacci expansion to anticipate price projection?’
Stuart: No. I don’t like the idea of targets because of that whole idea of forecasting. It’s the idea of, I think the index will be at x in three months’ time. As a technical analyst, I want to identify high probability trading opportunities. There’s no certainty. If it only goes up x percent or if it goes up y percent which is a lot greater, then that’s just the way it happens. I’ve never tried to determine what that might be, I’ve just got mechanisms in place that when the price does certain things I get out when I have to, or I stay in. Continue reading ‘Making Money From CFD Trading’ »