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Trading With Fibonacci Retracements and Extensions
Specs: 40 mins, 50 secs | 18.7 MB
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In this detail-packed interview, I speak with successful private trader David Buffalo. We discuss how he uses Fibonacci ratios to establish price levels the one extension level he uses to find profitable trades over and over again. We discuss why a "complete price leg" is a critical signal for him and how he uses neural net software to find patterns he can recognize to find explosive moves. David talks about the one indicator he uses and how he has adjusted it slightly to include another indicator to draw a complete picture of the index, ETF or stock he is trading. Finally, we discuss his very specific way of setting his stop losses and how he adjusts them if needed. We finish by discussing how he sets goals for himself and measures his personal success in the markets.

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Trading With Fibonacci Retracements and Extensions


TraderInterviews.com: Hello everybody. Welcome back to TraderInterviews.com. Thanks very much for joining us for another show this week. As always, and I say at the beginning of every interview, the idea of all these is to give you something to think about in your own trading by listening to another trader talk about their strategies and hopefully give you a way to think about new ways of approaching the markets you may not have considered in the past. Our guest today is David Buffalo. I found him on Twitter. He's got a pretty active account there where he talks about some of the things he's doing in trading. David, thanks very much for joining us on the show today.

David Buffalo: Well, thank you for having me. I'm pleased to be able to help, maybe help people learn a little bit something different about trading particularly in the swing trading realm.

TraderInterviews.com: Excellent. Well, I will ask you all about your trading strategies but I want to start just asking you briefly how you got into this in the first place and how you became a trader?

David Buffalo: Well, it's a really long story. I think I have explained to a couple people before. My dad died when I was 20 years old and unfortunately, when he passed away, my mom was a bookkeeper basically and did not understand how to manage her assets and we weren't wealthy by any stretch of the imagination. But, she had assets to managed and unfortunately, there's a lot of conflict between business partners and my mom and unfortunately, she ended up kind of on the short end of the stick. And because of that and also because of 1987 when the market literally collapsed, I had to learn how to invest money and to get a better than average or adequate return. And my first journey in stocks, it was literally when I was in college. That was the end of 1973, the beginning in 1974. And people worry about, "My...

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