Hello, I’m a new swing trader using an RSI(2) strategy inspired by Larry Connors. After paper trading for a few months, I’ve transitioned to live trading with a small account. Below are my current entry and exit conditions as of today. I’m new to trading and rely solely on this strategy, so all advice is welcome.
Indicators:
RSI (2-period)
50-period EMA
Entry Conditions:
Buy: RSI(2) is oversold (<10) and price is above the 50-period EMA.
Sell/Short: RSI(2) is overbought (>80) and price is below the 50-period EMA.
Exit Conditions:
Stop Loss: 2× ATR
Take Profit: 4× ATR, or RSI(2) crosses back above 80, or after 5 bars.
Indicators:
RSI (2-period)
50-period EMA
Entry Conditions:
Buy: RSI(2) is oversold (<10) and price is above the 50-period EMA.
Sell/Short: RSI(2) is overbought (>80) and price is below the 50-period EMA.
Exit Conditions:
Stop Loss: 2× ATR
Take Profit: 4× ATR, or RSI(2) crosses back above 80, or after 5 bars.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.