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Regardless of the "periodicity" of the data in your
charts (i.e., hourly, daily, weekly, monthly, etc), the basic
principles of technical analysis endure. Consider the following charts
of a Swiss Franc contract shown in Figures 40, 41, and 42.
Typically, the shorter the periodicity, the more
difficult it is to predict and profit from changes in prices. The
difficulty associated with shorter periodicities is compounded by the
fact that you have less time to make your decisions.
"While we stop and think, we often miss our opportunity."
- Publilius Syrus, 1st century B.C.
Opportunities exist in any time frame. But I have
rarely met a successful short-term trader who wasn't also successful a
long-term investor. And I have met many investors who get caught by the
grass-is-greener syndrome believing that shorter-and-shorter time
periods is the secret to making money--it isn't.
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