RSI think I'll go long on this one today
I mean c'mon...as a trader how can you not like a stock with the ticker RSI and a chart that looks like this? Especially right now when everything else is kind of a mess.
As always, while I'm fond of the lovely positive slope of that regression channel (uptrend), it's all about the algo. Not a long track record is really the only knock on this one. But at 152-2 with a buy signal from the algo and this exit strategy, I'm willing to test the waters given the dearth of other decent options out there right now.
RSI's average trade result is almost exactly +2.0% which is solid for this system. Plus, >2x the average SPY daily return is nothing to sneeze at either. You'd also have to go back to April to find a trade of this type that took longer than 3 days to close (12 in a row closed in 3 days or less and 75% of those were 1 day trades).
Lot 1 entry price - 13.90
Per my usual strategy, I'll add to my position at the close on any day it still rates as a “buy” and I will use FPC (first profitable close) to exit any lot on the day it closes at any profit.
As always - this is intended as "edutainment" and my perspective on what I am or would be doing, not a recommendation for you to buy or sell. Act accordingly and invest at your own risk. DYOR and only make investments that make good financial sense for you in your current situation.
As always, while I'm fond of the lovely positive slope of that regression channel (uptrend), it's all about the algo. Not a long track record is really the only knock on this one. But at 152-2 with a buy signal from the algo and this exit strategy, I'm willing to test the waters given the dearth of other decent options out there right now.
RSI's average trade result is almost exactly +2.0% which is solid for this system. Plus, >2x the average SPY daily return is nothing to sneeze at either. You'd also have to go back to April to find a trade of this type that took longer than 3 days to close (12 in a row closed in 3 days or less and 75% of those were 1 day trades).
Lot 1 entry price - 13.90
Per my usual strategy, I'll add to my position at the close on any day it still rates as a “buy” and I will use FPC (first profitable close) to exit any lot on the day it closes at any profit.
As always - this is intended as "edutainment" and my perspective on what I am or would be doing, not a recommendation for you to buy or sell. Act accordingly and invest at your own risk. DYOR and only make investments that make good financial sense for you in your current situation.
Nota
I can't begin to explain how much I love trading the way I do on days like today.Dagangan ditutup: sasaran tercapai
Sold this one for 14.05 at the close - a 1 day gain of 1.08% on a day when SPY was down 1.46% and the QQQ was down over 3%. Gotta love when that happens.Nota
Trade summary for my records
Wins 1
Losses 0
Avg gain/lot = +1.08%
Avg hold period = 1 day
Avg gain/lot/day = +1.08%
Annualized gain = 1.08% x 252 trading days/yr = +272%
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.