So then I needed a reason to enter, So I mixed in a few stochastics to figure out which one I like the best for this method. The 21EMA also offered to show when a stock was trending well. Eventually I settled on the 21 length EMA (Exponential Moving Average), I noticed that on almost all timeframes the 21EMA had a huge impact as a support and resistance line on price action. So I decided that I was going to buy into stocks that were already going up, but had a retracement that I could buy off of. Yes I had some really good trades that made me a lot of money, but at the end of the year I could never keep a winning balance.
So after years and years of trying to accomplish this and master it, I only ended up losing money in the end.
But we all know the notorious "bounce then keep falling" routine lol. So I figured when I was searching for stocks, I would try to find stocks that have had big fall backs, then I would try to find some type of resistance and buy when it bounces off.
So when I started trading, I use to always "buy the bottom" and "Sell the top". I get asked for my strategy a TON! so I'm going to just share it here to have a place to direct people.
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