Good post Topchess. I agree with you on keeping it simple and i tried trading this briefly a little while ago. I failed simply because my demo only permitted me to buy full lots (my balance was 5k) so that when the price kept going more extreme i went into big drawdown. However like you say if you keep you trades small, say 1/10th of a lot on a 5k account this system would probably be quite profitable as long as you were not greedy on the profit taking.
My question is what about chart time periods? YOu seem to change to weekly, daily and 4hour. So you don't just use one period? Do you use different time periods to back up your trade? I would have thought you would be receiving mixed signals by looking at the RSI on different time periods.
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