Since everyone seems to be quite interested in the Exit Strategies, I thought I would share my 2-cents ...
RSI, one of the most mis-understood and under-estimated tool ever is your best friend to know when to exit. Unfortunately, very few have tried understanding what RSI is trying to tell us ... its not as simple as seeing whats over-sold and over-bought ...
Here are few tips for you guys ...
Exit Strategy for Long Orders:
1: Whenever the RSI falls 10% or more.
2: If the RSI falls down less than 10% and when it runs up it doesn’t break the peak-resistance.
Exit Strategy for Short Orders:
1: Whenever the RSI gains 25% or more.
2: If the RSI gains less than 25% and when it goes down it doesn’t break the inverted-peak resistance.
Tip: Ever heard of Samuel Rondault ?
RSI, one of the most mis-understood and under-estimated tool ever is your best friend to know when to exit. Unfortunately, very few have tried understanding what RSI is trying to tell us ... its not as simple as seeing whats over-sold and over-bought ...
Here are few tips for you guys ...
Exit Strategy for Long Orders:
1: Whenever the RSI falls 10% or more.
2: If the RSI falls down less than 10% and when it runs up it doesn’t break the peak-resistance.
Exit Strategy for Short Orders:
1: Whenever the RSI gains 25% or more.
2: If the RSI gains less than 25% and when it goes down it doesn’t break the inverted-peak resistance.
Tip: Ever heard of Samuel Rondault ?