Layne

The only reason I use closes and openings to track the performance of this strategy is to have a common reference point. Doing things intra-day is fine. Sometimes you’re better off doing it that way, sometimes you’re not.

In fact, SOXS was above 50 RSI for most of Thursday’s trading. And then sold off in the afternoon. And now it’s far enough below the entry price that this one is probably going to be a loser.

So, sure, in this particular case what you did was better.

Layne

Yes, you can get real time data from Stock Charts. Or you can get it from your broker.

And you have several choices for entry. You can do it shortly before the close if RSI is signaling a buy. If the close doesn’t signal a buy, so what? If it did signal a buy when you entered the trade, it likely means you entered at a lower price than the closing price. That’s a good thing.

Another thing you can do, is wait until it closes and place a limit order to buy at the closing price in after market trading.

And still another thing you can do is wait until the next day and place a limit order to buy at the previous day’s closing price. Most of the time you’ll get filled and you may even get filled at a lower price if it opens lower. If you miss it, no big deal. You just skip that trade and try to buy the next one.

I’ve been known to do all three.

I have a question about RSI reversal as it concerns buying bull ETF’s at the close and selling bear ETF’s at the close. Are you able to get second to second real time data on Stock Charts for RSI? How much before market closing are you entering your orders. Sometimes RSI just barely signals a buy for bull ETF’s or a sell for a bear ETF shortly before close, but at close it’s value is too high to have bought the bull ETF or too low to have sold the bear ETF. How are you avoiding this problem?
Thanks!
Layne

If you’ll look at closed out trades you’ll see that’s already happened.