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Do you like really fast intra-day trades? Or do you like to hold positions for several days, weeks, months or years? Do you like sitting at a computer for hours or days at a time? Or would you prefer to spend 30-minutes a week? From a life-style point of view, it's best to choose.
-- Time Frame
Some stocks show a tendency to trend upward for thirty minutes to an hour, and then trend downward for roughly the same amount of time. This is ideal movement for quick trades. Other stocks exhibit similar up and down movement, yet the price action takes much longer - days or even weeks. These stocks are best suited for longer term investors.
In either case the best stocks are stocks that match your individual personality as an investor. The simplest way to accomplish this is to use price charts displayed in time frames that match your particular style.
Let's say you have full-time access to the markets and prefer a large number of quick in-and-out trades during the day. In this case your charts of choice will likely display very short time frames - such as five-minute, fifteen-minute or thirty-minute bars.
If you prefer to spend only an hour a day trading - or perhaps only an hour a month - use charts with longer time frames, such as daily, weekly, or monthly.
Choosing your time frame is extremely important. This simple first step makes it much easier to pick winning stocks that are compatible with your lifestyle. It's the foundation of successful stock selection.
-- Stocks Have Personalities
Just like people, every stock is unique. Understanding a stock's personality allows you to select stocks that will make you money.
For example, some stocks have a tendency to "trend." They like to travel at a steady pace in an established direction for a certain length of time.
It takes a lot of skill and effort to select the best stocks, so we provide an online trading service to help you get up to speed ... FAST!