The lesson to remember here is keep it simple and stick to your system
let say that you watch the market 1 time per day or week and you want to invest but want to have a system easy to follow
follow these steps below
1. take a trade near the 200 Sma
2. take the trade above the 20 sma
3. put your stop at the pivot just below the 200 sma (represented in red on chart)
4. take profit when the last daily candle closes below the 20 Sma
5. rinse and repeat and you will get consistent gain
optimal gain is 2 to 1 on risk reward
create an alert on your 20 sma so you do not need to follow the position daily only when the price action closes below or crosses below depending on your alert setting
once you have closed your position wait for the stock to pull back and do it again
invest in at least 3 different stocks or ETFs
you can take trades using only the 20 sma as an entry but better to be near the 200 sma as well
have a good one !!
let say that you watch the market 1 time per day or week and you want to invest but want to have a system easy to follow
follow these steps below
1. take a trade near the 200 Sma
2. take the trade above the 20 sma
3. put your stop at the pivot just below the 200 sma (represented in red on chart)
4. take profit when the last daily candle closes below the 20 Sma
5. rinse and repeat and you will get consistent gain
optimal gain is 2 to 1 on risk reward
create an alert on your 20 sma so you do not need to follow the position daily only when the price action closes below or crosses below depending on your alert setting
once you have closed your position wait for the stock to pull back and do it again
invest in at least 3 different stocks or ETFs
you can take trades using only the 20 sma as an entry but better to be near the 200 sma as well
have a good one !!