Dear Seniors and Fellow Members,
I request you to kindly spare a few minutes on two of my basic queries in Entrey and Exit Startegies. I have read them over and over again but still understand little of it (dumb me!) -
Entries
Entries are simple, you wait for a candle to close above 15 EMA, next candle to open and see if 3 EMA is above 15 EMA or not. If the answer is 'Yes' you go long. For shorts you need an exact opposite setup.
How to calculate or set 3, 15 EMA? What is the formula?
Exits
Yes, we do exit at certain points even when our SAR is not hit. These exit points are obviously when our position is suddenly in deep profits becuase of an extreme rally or crash in our favour. The exit points are where you find our 'current' EOD candle is not touching 3 EMA at all. On this candle, we book profits and wait for markets to correct back and touch 3 EMA again. As soon as 3 EMA is touched we jump back into our initiaal position. So in a way we stay with our position, we just exit it once and get back in after a small correction.
What is SAR? Which will be the "current EOD Candle"?
I request you to kindly spare a few minutes on two of my basic queries in Entrey and Exit Startegies. I have read them over and over again but still understand little of it (dumb me!) -
Entries
Entries are simple, you wait for a candle to close above 15 EMA, next candle to open and see if 3 EMA is above 15 EMA or not. If the answer is 'Yes' you go long. For shorts you need an exact opposite setup.
How to calculate or set 3, 15 EMA? What is the formula?
Exits
Yes, we do exit at certain points even when our SAR is not hit. These exit points are obviously when our position is suddenly in deep profits becuase of an extreme rally or crash in our favour. The exit points are where you find our 'current' EOD candle is not touching 3 EMA at all. On this candle, we book profits and wait for markets to correct back and touch 3 EMA again. As soon as 3 EMA is touched we jump back into our initiaal position. So in a way we stay with our position, we just exit it once and get back in after a small correction.
What is SAR? Which will be the "current EOD Candle"?
