RSI indicator

[Zerologic]

I usually rely on mix of both price action and resistance levels. Have you tried combining it with your indicators?

Price action and support resistance is a good and simple approach, I also like it.

 

[David79]

Price action and support resistance is a good and simple approach, I also like it.

Do you follow any specific level or follow the flow?

 

[Zerologic]

Do you follow any specific level or follow the flow?

For this, I like to draw prediction lines manually by paying attention to peak and valley levels. for guidelines.

 

[David79]

For this, I like to draw prediction lines manually by paying attention to peak and valley levels. for guidelines.

Does this approach works for you majorly?

 

[Zerologic]

Does this approach works for you majorly?

Yes, this is quite good, but still need to strengthen the discipline to maintain it.

 

[David79]

Yes, this is quite good, but still need to strengthen the discipline to maintain it.

Agree. Staying discipline is hard but important for long term success. What's you got to strategy to stay disciplined?

 

[Zerologic]

Agree. Staying discipline is hard but important for long term success. What's you got to strategy to stay disciplined?

Looking too long at price changes often causes discipline distortion, to minimize that I prefer a set-and-forget trading plan. How about you?

 

[David79]

Looking too long at price changes often causes discipline distortion, to minimize that I prefer a set-and-forget trading plan. How about you?

Interesting! I'm more hands on but have you ever felt to tweak the trades in between?

 

[Zerologic]

Interesting! I'm more hands on but have you ever felt to tweak the trades in between?

The market is always changing, sometimes I feel like I need to make update

 

[David79]

The market is always changing, sometimes I feel like I need to make update

Do you change you strategy based on those changes?

 

[Zerologic]

Do you change you strategy based on those changes?

The strategy remains the same, but some changes may modify the stop loss level.

 

[Amadeus.V]

I personally prefer using price action. I’m not against indicators, but I don’t find them very useful unless they’re applied in a more practical way than how most traders typically use them.

 

[David79]

The strategy remains the same, but some changes may modify the stop loss level.

Got it. Adjust it based on volatility?

 

[Zerologic]

Got it. Adjust it based on volatility?

Yes, it doesn't always have a happy ending, but this is a lower risk on my side.

 

[David79]

Yes, it doesn't always have a happy ending, but this is a lower risk on my side.

Lower risk is a smart move. You stick to this approach usually?

 

[Zerologic]

Lower risk is a smart move. You stick to this approach usually?

Depending on my view about the price market itself, if likely trend market pauses, I prefer to cut manually rather than wait to hit stop loss.

 

[David79]

Depending on my view about the price market itself, if likely trend market pauses, I prefer to cut manually rather than wait to hit stop loss.

Same with me. Just curious when do you decide to cut?

 

[Zerologic]

Same with me. Just curious when do you decide to cut?

When I forecast a trend pause or consolidation with potential reversal or retracement

 

[David79]

When I forecast a trend pause or consolidation with potential reversal or retracement

You've got an good eye on market shifts. Any specific indicator you use to check your forecasts?

 

[Zerologic]

You've got an good eye on market shifts. Any specific indicator you use to check your forecasts?

No, I just look at the candlestick patterns and price action in this case.