Actually, a good chartist and nimble trader will a
Post# of 2559
Posted On: 03/03/2016 12:53:04 PM
Re: INSTATRADER #2202
Actually, a good chartist and nimble trader will add/enter a stock with momentum with the RSI at 65 since many believe the 'power zone' falsehood and jump into a stock at those levels, thus offering a last 'push' into higher levels, although very short lived in most cases. A few friends and I flip or swing into that 70+ zone. The subsequent pause, be it a consolidation or pullback will almost always occur. Had I held my last exit at .042, I could be up another 10% today at the current bid of .0462. But I chose to add .50/.52 into IORG after its consolidation/correction, and am now at .85 last trade. As I said, I'm still holding RXMD because it is one to hold a core position in which I've also said in previous posts.
We can all trade and bank together, although I WILL correct erroneous information as to the definitions of technical indicators when they are misstated to my board and my members here. The RSI above 70 and referenced as the 'power zone' is a mathematical and technical falsehood.
And I am the furthest thing away from a robot trader. Every stock has its own trading characteristics, patterns and history. We are fluid and can move quickly when situations arise.
We can all trade and bank together, although I WILL correct erroneous information as to the definitions of technical indicators when they are misstated to my board and my members here. The RSI above 70 and referenced as the 'power zone' is a mathematical and technical falsehood.
And I am the furthest thing away from a robot trader. Every stock has its own trading characteristics, patterns and history. We are fluid and can move quickly when situations arise.
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