30 to 50 pips a day in 3.5hrs.

[Wizard]

I started trading about 3 months ago with a new system. It uses Rapid RSI14(it is an awesome indicator, it works far better than regular RSI), 10,20 and 50 SMA, Fibonacci retracements and Extensions.I also take in account the daily pivot -buy above sell below. It is important to enter trades during volatile markets only and avoid trading during big news releases. You go long after Rapid RSI crosses 30 from below and short when it crosses 70 from above , add 10 to 15 pips to make sure it is a real signal. I trade from 4:30 am to 8:00am PST. I don't like spending all day starring at my computer. So far it has been producing 30 to 50+ pips per day. Ill keep you posted on the progress.

Wizard

PS I tried uploading the Rapid RSI indicator but it did not work

[daedalus]

Care to share some trade setups and entry/exit rules?

[Wizard]

I use this system on GBP/JPY,EUR/CAD and GBP/CHF .It works on all pairs , but I prefer the ones that move. I take profit anywhere from 30 to 100 pip with a SL of 40 PIPS, it all depends on how I feel about the trade. I trade from a 5min chart, sometimes the 3min chart works well too.The 50 sma is acts like a price pivot and can be used for entry/exit levels.I never trade against a strong trend.I sometimes use support and resistance levels to take profit or most of the time I leave a lot of pips on the table so I am learning to stay in trades longer. My partner who taught me the system makes routinely over 100 pips a day using it. We started trading together and I feel more comfortable allowing for trades to run longer. I'll post some more details when time permits.

Wizard

[Max99]

Sounds interesting. What are your RSI settings?

[Sweet Pip]

Originally Posted by marcosean

Maybe you guys can check out this website that gives free signals on the GBP/USD and USD/CHF pairs

peace

Interesting URL they have there....

http://www.freefxsignalsjm.we.bs

....especially the "we.bs" part ...wouldn't touch it with a 10 ft pole!!!

[Wizard]

The Rapid RSI setting is 14.

[Sweet Pip]

Originally Posted by Wizard

PS I tried uploading the Rapid RSI indicator but it did not work

Hi there, when you tried to upload the Rapid RSI indicator, what exactly did not work? Did it give you an error message or anything?

You should be able to select the .mq4 (or whatever it is) indicator file from your computer, then click the "Upload" button at the very far right side of that window ...for me that window opens up pretty small and when I first tried to upload something, I didn't even see it...so wondered if that might be a possibility?

[Wizard]

Originally Posted by Sweet Pip

Hi there, when you tried to upload the Rapid RSI indicator, what exactly did not work? Did it give you an error message or anything?

You should be able to select the .mq4 (or whatever it is) indicator file from your computer, then click the "Upload" button at the very far right side of that window ...for me that window opens up pretty small and when I first tried to upload something, I didn't even see it...so wondered if that might be a possibility?

Hello Sweet Pip, I tried to upload the RSI through the "Manage attachment" window, I keep getting an invalid file message. The RSI is zipped , and that is how I had it uploaded in my MT4 stations, It works fine here but I can't upload it. I did use the upload tab.

[Dachelm]

You can upload it in rapidshare you will not have any problems at all.

Thanks and keep the googd work I can't wait to test your system

Dachel

[cgrey]

Based on the information you've provided so far (Rapid RSI, SMA 10/20/50), it looks like you are talking about the same or similar system that is posted under a thread entitled "GBP/JPY Scalpers" on Forex Factory. Is this the system you are referring to? Are you the same person that started this thread there back in Februrary? There's 150+ pages of discussion about this system there - I'm just curious if we're talking about the same system here?