Let Fibonacci set your price targets – and trade entries

As a swing trader, you must leave your emotions at the door, says John C Burford. Fibonacci will guide you to profits.

Swing trading is a half-way house between short-term (or day) trading and long-term position trading. On average, my successful trades last anywhere from a few days to a few weeks and rarely longer than three months. It suits my personality to trade in this way. Naturally, my losing trades do not last as long.

I am a swing trader because I do not want to sit through large drawdowns while waiting for my trend to re-emerge as is often necessary when trading long-term. And who can say that the drawdown will not become permanent?

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John is is a British-born lapsed PhD physicist, who previously worked for Nasa on the Mars exploration team. He is a former commodity trading advisor with the US Commodities Futures Trading Commission, and worked in a boutique futures house in California in the 1980s.

 

He was a partner in one of the first futures newsletter advisory services, based in Washington DC, specialising in pork bellies and currencies. John is primarily a chart-reading trader, having cut his trading teeth in the days before PCs.

 

As well as his work in the financial world, he has launched, run and sold several 'real' businesses producing 'real' products.