Monday, April 08, 2019
Trading Idea : Krono
Let me use Krono as example to share an idea ...working or not, I don't know. haha. Why Krono? Because it is no longer in play, no longer being mentioned by most around ... and I have no interest to buy, either.
The peak of Krono was RM1.28 ...never mind, we give discount and rounding it to RM1.20. No trading till RSI of weekly chart showing below 30 ... the lowest so far was 31.7 ..hitting the lowest price of 43cents. At the moment it is around 60cents level.
We do not need to watch or care. We just filter it with RSI below 30, buy portion 1. Then ... start to do averaging down ... say every 20cents (in this case for Krono).
Say : Buy 40cents when RSI below 30, done. Sell if we have 50% profits. Done at 60cents ... it went to hit 80cents, we do not need to care. We WAIT for RSI below 30 again ... no worry, we have a list of 50stocks to buy. haha
Now ... we no longer in position ... so, we wait with cash in hand ... scan through those stocks in our stalk-list to buy ... then just buy.
Don't know if anyone could get the idea ... but it works well, actually ... for downtrending stocks WITH fundamentals.
Good luck. haha