Is It ok trading without stop loss in RSI strategy

[Trendswithbenefits]

A technique you can use is the RSI as a Stop Loss as demonstrated in the thread linked below.

Stop loss

You don’t have to use physical chart stop losses… Below is an example of using the CCI indicator as a stop loss. Smoothed with a value of 50 on yesterday’s EURUSD 5min Chart as opposed to the normal 14 periods. Feel free to alter (smooth) the CCI periods to backtest patterns. This example SHOULD only be traded if you intend monitoring your trade or scalping small TF’s. [image] If you scan back through any pair with either the CCI indicator (or RSI) displayed. You will start to see patterns. …

Substitute the CCI Indicator (100 / -100) with the RSI Indicator (70 / 30) and the strategy works the same.

Have a read of the thread, see what you think…