Maintaining a manageable portfolio size ensures you can effectively monitor your investments and provides a sufficient margin cushion if multiple trades go against you simultaneously. Avoid overextending yourself to remain flexible and comfortable in your trading activities. Consider the following strategies to manage risk and fine-tune your predator instincts.
Set the Lookback Period to 60 Days
Not everything can or should be automated. To ensure that the target and stop loss analysis is consistent with the indicator’s settings, it is recommended that users manually set the calendar lookback period to the last 60 days before use. This will allow the indicator to function as intended, providing normalized moving average calculations that align with the selected timeframe.
Steps to Set the Lookback Period:
For Shorter or Longer-Term Analysis: The 60-day MA will still provide valuable insights, but keep in mind that it is optimized for a 60-day view. For short-term analysis, the MA will appear slightly less responsive, and for long-term analysis, it will focus more on recent trends rather than the entire period.
Copyright © 2024 degenlegion.com - All Rights Reserved. Disclaimer: The information provided is for educational purposes only and should not be construed as financial advice. Trading involves risk, and you should only trade with money you can afford to lose. Past performance is not indicative of future results. Use this indicator at your own risk.
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