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How to Improve My Trade


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How to Improve My Trade

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Mresa641
Dallas TX USA
 
Posts: 9 since Aug 2020
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Im new here and I think this might be a good place to start on refining my methods of trading. I look forward to hearing from all you Pros. If there is a better section for this, please let me know.

So here it goes.

I have been doing very well trading on long term EMAs at the 65 and 200 level. Ive noticed that many stocks tend to hover around these and if they break, the stocks tend to revert back to those averages. Ive been developing this trade for quite some time and I try to keep it simple in terms of the info I analyze to make a trade. What do you all think I could add to help improve my entry? Right now I look at the size of the move to my averages and decide based on that if there is going to be a bounce. Example of one of my trades:

AMZN 1hr 8/3/2020 at 9am




AMZN opened around 3180, went down to my 65 level at 3116 and bounced to around 3137 for the trade.

What do you guys think I could add to help determine if that would be a good place to take a trade or it might be better to hold off to another level. I am very happy with this approach and has been great for me when they line up but I just want to pick everyones brain to see what you guys would think would help put the odds in my favor.

I use TOS and NT8 and looked at stochastics, MACD but they dont seem to really tell me much. RSI might be the only thing in addition the length of the move that tells me that one of my EMAs is a good trade to take.

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 forgiven 
Fletcher NC
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Mresa641 View Post
Im new here and I think this might be a good place to start on refining my methods of trading. I look forward to hearing from all you Pros. If there is a better section for this, please let me know.

So here it goes.

I have been doing very well trading on long term EMAs at the 65 and 200 level. Ive noticed that many stocks tend to hover around these and if they break, the stocks tend to revert back to those averages. Ive been developing this trade for quite some time and I try to keep it simple in terms of the info I analyze to make a trade. What do you all think I could add to help improve my entry? Right now I look at the size of the move to my averages and decide based on that if there is going to be a bounce. Example of one of my trades:

AMZN 1hr 8/3/2020 at 9am




AMZN opened around 3180, went down to my 65 level at 3116 and bounced to around 3137 for the trade.

What do you guys think I could add to help determine if that would be a good place to take a trade or it might be better to hold off to another level. I am very happy with this approach and has been great for me when they line up but I just want to pick everyones brain to see what you guys would think would help put the odds in my favor.

I use TOS and NT8 and looked at stochastics, MACD but they dont seem to really tell me much. RSI might be the only thing in addition the length of the move that tells me that one of my EMAs is a good trade to take.

you could put your stop under the active swing low . that reduces the odds of being shaken out on a retest . just reduce size and increase targets .

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Last Updated on August 8, 2020


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