Brilliant~
Why didnt I think of it!
Do test it on a demo though because quite often RSI can be overbought or oversold and bounce off the areas marked for extended periods of time.
well, check demo 1 minute chart to get immediate results
what you think hedge in RSI area ?
I thought the title of this thread was $2.74 To $2740 within 10 days not $2740 to $2.74 in 10 days.
Well if thats your plan I dont see you ever making a profit but you could be on to something. If we try to close positions for a average loss we may become millionaires.
ok guys, we have to kill this trading system, check bigger picture below
we buy at RSI, our tp at RSI, open 2nd trade to close in average loss is also at RSI
how it works ?
buy at 40 RSI, TP at 50 RSI if went wrong 2nd buy at RSI 30 but 1st one TP change to 40 same time 2nd buy TP also at 40 RSI … go ahead again and again…
Problem I see here is you are just showing RSI. RSI means nothing what is price doing at these times. Just because RSI was at 20 and went up does not mean price did
exactly RSI can not predict real price action, so here is hack
open trades based on RSI + 10 pips tp when RSI reach wrong side open 2nd trade in RSI but 2nd trade and first trade in same place with 10 pips TP…
leandar, this is how babypips works.
You think you are onto something, than you should go test it. Doesnt matter whether you had played around with it for a week or a month or a year.
Than you present it here with atleast the basic entry rules, with an example or two.
This will than get others to let you know what they think of your method.
The more experienced ones can point out where a problem in your method lays, if any for the matter.
This will also give others a chance to learn from what you have thought off.
You dont pull something off the air, than say hey look this is what I think it is, and expect others to do the testing for you.
Most of them here who are doing ok are doing one of three things. Not looking at the market or any activity associated with it i.e. taking a break, looking for position setups or testing another strategy to compliment their existing methods.
No one is going to be drawing your RSI up and give you feed back if its working or not if all you have to put in from your part is a chart that was cherry picked by you.
The reason why I even bother to reply this thread is I like the one quality that you have. Despite the earlier scorn and outright bombing you got from many members here, ( and in Dale’s case, out right smack to your head ), you have had the good humour to laugh it off and take it in your stride. Now that is a quality that you rarely see.
So here is my two cents to pointing something out for you.
You have to take this a little more seriously and in an organised way if you want this to pay off for you.
i just started manual trading in one of my old real account now 2 days left
i got more than double a day in trading
oh really?
Hello.
Uh oh. Here we go again!!! LOL!!!
Regards,
Dale.
The above being said though:
First: don’t “knock” RSI.
Second: leandar’s new “system” is not too dissimilar to the strategies detailed in this book:
My only problem with the strategies detailed in this book is that Connors nowhere addresses risk i.e. nowhere does Connors address the issue of where to place stops if it’s a bad trade so be careful. Who knows??? Maybe leandar has the “fix” for this??? If so: you could be onto something real good here leandar.
But this “double my account in two days”??? Not even RSI is THAT good leandar even if I have to admit it myself (me being “the Wilder junkie” as you know)!!! LOL!!!
But suffice to say: “I’m WATCHING YOU”!!! LOL!!! Good luck and good trading my friend. You deserve it.
Regards,
Dale.
Dale, thank you for your link
i am not using RSI in this new exness40 trading but using fundamental news and strong SR
i short because there is some events pending in GBP/USD
1, Frankfurt is going to open
2, Tokyo going to close
3, London going to open
4, Public Sector Net Borrowing news coming for GBP/USD its high impact
so there is no chance to go wrong side of my any ( buy or sell ) open trades until complete this events but spike to give my TP , same time look at strong SR to escape from loss …
Hi Leandar,
What do you mean by that you can’t double your money after 4 days, can you explain more?
Thanks!
Mike
hi 993,
we can double money after 4 days also but trade only when market dead, we humans cant predict when market is absolutely dead or we open trade in bigger currency moving time because we have lot of human mistakes.
market dead = double money
23.81% made in FOMC minutes with GBPUSD, i placed news trading method , 10 pips SL and there was no TP , i closed manually after reach more than 70 pips after the long sleep …
Which source did u use for fomc minutes?
search “Economical Calender” in Google
New testing started, first target is 2.5% daily, i will increase this later.
Oh No, not again!!! Please, kinda sick of these posts.