Quote:
Originally Posted by Flguy
Vince, Thanks for the information, If you do not mind I would like to ask a few more details. I am sorry for asking more questions, I promise I will not tell your girl friend that you trade, but we are curious. As you know, is in the details where the devil lives.
What is your charts time frame? 3 min, 5 min, 15 min, 1hr or 4hr? Time frame makes a huge difference as you read the RSI.
What RSI are you using, 9 or 14 of any other number?
What about stop losses, what is your range if you use them at all?
What about your Stochastics or any other tools, are you using them at all for your trades?
Are you doing any scalping or do you keep your trades open until you reach your goal?
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Hi Flguy
a 60min time frame set at 14 on the rsi, I have been buying all morning, and not much change from the 30 level but I do expect a corrective bounce sometime today, maybe not too much but enough to get to my Target of $400 - $1000
never use stops, I did a few years ago and then I would lose on big tradea and then price action would come back again and it would really be annoying, so I decided then to manually quit positions, means sitting in fornt of the PC rather a lot
no other tools flguy, I want to keep this a simple as possible, and don't want to be torn between too many inicators to make a decision.
No Sclaping, but sometimes if I am feeling unsure about a trade, mainly a gut feeling I will pull the plug on the trade
it's a slow start today.
