优化四级研究流程(股票投资)
CHAPTER6Optimized Four?Level
Research Process Th rough the years, I’ve gone the whole gamut of methods and routines to re-
search for information on stocks. It’s easy to get overwhelmed and side tracked
as hours can go by to only produce morsels of interesting information. Yet
these morsels of information oftentimes turn out to be the pelling
elements to the story. Th ey are the by?products produced from going through
the process of research. As a result, I’ve streamlined my own research methods
to extract the most relevant, compelling, and useful information For most of the earlier years, I’ve only focused on just the price elements
of stocks and believed that the charts are all that mattered. After all, we are
trading in a stock market, not pany market. We should only concentrate
our attention on the price action and pay little attention to the operations of
the business. Th e chart technical formations and price levels trumped the
fundamentals. pany is what you interact with and a stock is a three?
or four?letter symbol represented by the price action. Th e price action is all
we need to concern ourselves with. Fundamentals have little bearing on the
stock price with the exception of news and earnings. Of course, I was only
concerned with intraday trading during this time It wasn’t until I pressed further into overnights, swing trades, and port-
folio positions that I realized the role of fundamental analysis. For one, they
Way of the Trade
help you sleep well at night with positions providing a psychological support
buffer and backstop.
Fundamentals shape perceptions and valuations of stocks while reveal-
ing the motives behind price action, while technicals are an X?ray that tracks
the structures behind the price movement. While intraday trading lends
more to technicals, swing trading and investing require an insight into the
fundamentals. It’s best to arm oneself with an affinity for both aspects o
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