Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
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.
Can you help answer these questions from other members on NexusFi?