Quick Question about Strategy?

Discussion in 'Learn how to trade or invest by asking questions' started by Baker200, Oct 28, 2017.

  1. Baker200

    Baker200 New Member

    Hey Guys Let me introduce myself since I am new to the forum....
    I am currently a college student 20 years old starting my first year of a music performance associates than will be getting a business degree and focusing on portfolio management (maybe work for a bank or something). I decided to start learning now, (now I wish I started learning way earlier lol - its fun!!). My ultimate goal is to be able to see some consistent revenue coming in by the time I go on to my business degree (in around 2 years, not looking to get rich, just consistent profits). I have been doing demo for about 5 months, and have seen improvement... Especially after I quit trying to do binary options on Nadex Demo (i feel like they are way to fast for a beginner to really learn the ins and outs of the stock market) and switched to "vanilla" options and will be using Ally Invest when I go live (mainly for the, no minimum initial deposit for self directed trading). I found myself looking for a discussion forum, because I feel that is important to be able to talk with people who are already very successful themselves, and really listen to what they have to say on what I post.

    Alright so here is my question, can you guys give me some feedback on my strategy I am going to be implementing on investopedia demo simulator, for options... Worked on this strategy the whole weekend, and I feel like it will be pretty successful, but would like some input on it.....

    1. Stochastic - using to gauge when to start looking for entry, or exit
    2. MACD- to gauge when I need to get out of a trade with a profit/loss
    3. RVI - relative strength index: Using on cross over, to enter into long position, basing trade direction (call or put) from stochastic i.e overbought/oversold areas
    4. Also, trading off of 1 Day time frame on charts (any thoughts?)

    * I am using tradingview.com for my charts and am on the free plan, so I am trying to keep my indicators down to three or less, as sites I have read on say - you shouldn't need more than 3 technical indicators...

    Thanks for any feedback!!

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