Re: Intraday Trading System � Using Moving Averages with Stochastic
Hi All ,
I am new to technical analysis and trading based on TA , Based on my learning i have started trading using MACD , RSI and Stochastics , I use following well known widely available approach to enter and exit trades
1 When RSI < 30 say for e.g. 29.xx , I intiate a buy trade
2 Generally i have observed that If RSI is less than 30 , the MACD follows after one or two trading days to give buy signal i.e. when the crossover happens
I have used the above approach for both F &O for stocks as well as NIFTY and Bank NIFTY and is working 50 % to 60 % accurate , the only challange is i am still not able to define a rule to arrive at entry , exit and SLTP price
my questions is How to determine and what is the best way to determine entry , exit and SLTP once above signals are triggered ?
Thanks in advance for your inputs
Cheers
R