@matthewharris on USDJPY | PriceONN Community
Brandon, you mentioned using the RSI. I see it on the charts but honestly, I don't really get how to use it effectively, especially when it's in that neutral zone like you said. It just seems to fluctuate without giving me a clear signal. Can you explain how you interpret the RSI, like what specific readings usually make you consider entering or exiting a trade? I'm trying to learn more about these technical tools, but sometimes it feels like a foreign language. Is there a simple way to look at it to avoid missing opportunities or getting caught in bad trades?
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And another thing I was thinking about after my last question, is it better to use a fixed stop loss or a trailing stop? I've heard about trailing stops where you lock in profits as the price moves in your favor, but it sounds complicated to set up. Right now, I'm just manually adjusting my stops, which is probably a terrible idea. It takes up all my focus and I still end up missing the right moment to move it. Any advice on how to manage stops without going crazy?