Dallas TX USA
Posts: 9 since Aug 2020
Thanks Given: 4
Thanks Received: 0
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Whats up everyone,
Im new to the forum and I want to make sure I keep this short and sweet. First I am very happy to join and look forward to helping my fellow traders even if they dont help me. We need to help one another.
Quick Intro:
Been trading equities for a little of 2 years, made several methods, some worked and others didnt and I refined the ones I liked. Right now, I lost a lot at the front but now I gained it all back plus more with my method. My major trades focus on reversals and I do pick good spots based on EMAs.
What I need help with:
How can I improve my entry point around my EMAs. Sometimes my entry gets broken and other times it doesn't quite reach which leads me to be all over the place with how I enter. Sometimes I enter above my EMA and wish I didn't, other times I place my target below and watch the rebound happened that I was looking for.
Question:
What indicator can I use to help me determine if my entry point has a better chance at reversing or not. I am very simple in my trading methodology and use only 2 indicators that are RSI and my EMAs. Not looking for a silver bullet, just looking to have something that tells me it might be better to wait or to go ahead and jump in. Again, I prefer to keep things simple to avoid analysis paralysis but do want something that can help.
I use NT8, IB and TOS for charting
I would also like to find others that trade dips for large swings and brainstorm some ideas that I have. I trade on longer time frames such as the 60 min and the daily. Does anyone know of any trading groups in the DFW Texas area?
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