most of you have not seen these type of trades before - 99% of
the time, 2nd or 3d entries are at better prices (lower prices for
longs, higher prices for shorts)
However the RSI oversold, Bear Exhaustion, and I think maybe the
bear long, at times will enter longs at much higher prices than the
entries at the lows.
They only do this if the trade is already profitable and
will at times buy a pullback, here's an example from the past, you
can see the system entries on two trades, and how those systems
entered at higher prices when price pulled back 2 or 3 bars.
Those entries are pretty low risk because they occur at a price
where price doesn't have to fall very fall before stopping out, so
if they don't work out, the stop is usually pretty tight
it is. wondering if I send it out or not. If I do, it
would be 1 contract, no reason to add a bunch of risk. The
good thing is that the system is close to a stop anyway, so risk is
pretty minimal
mean reversion RSI oversold may enter another position?
Posted by matt on 13th of Oct 2023 at 12:42 pm
most of you have not seen these type of trades before - 99% of the time, 2nd or 3d entries are at better prices (lower prices for longs, higher prices for shorts)
However the RSI oversold, Bear Exhaustion, and I think maybe the bear long, at times will enter longs at much higher prices than the entries at the lows.
They only do this if the trade is already profitable and will at times buy a pullback, here's an example from the past, you can see the system entries on two trades, and how those systems entered at higher prices when price pulled back 2 or 3 bars. Those entries are pretty low risk because they occur at a price where price doesn't have to fall very fall before stopping out, so if they don't work out, the stop is usually pretty tight
The RSI trade still looking
Posted by focus175 on 13th of Oct 2023 at 03:51 pm
The RSI trade still looking to trigger Matt?
it is. wondering if I
Posted by matt on 13th of Oct 2023 at 04:01 pm
it is. wondering if I send it out or not. If I do, it would be 1 contract, no reason to add a bunch of risk. The good thing is that the system is close to a stop anyway, so risk is pretty minimal
SPY or ES on that
Posted by elementsix on 13th of Oct 2023 at 04:03 pm
SPY or ES on that RSI entry?
it did, I didnt' send
Posted by matt on 13th of Oct 2023 at 05:16 pm
it did, I didnt' send out
was showing on SPY but
Posted by matt on 13th of Oct 2023 at 04:27 pm
was showing on SPY but didn't trigger, it's just on ES/MES
nice can't wait to play
Posted by srusso1 on 13th of Oct 2023 at 12:58 pm
nice can't wait to play that.