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RSI + MA


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RSI + MA

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  #1 (permalink)
 jayminho 
hell de janeiro
 
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RSI - to measure oversold and overbought levels - set at 14,3
MA - to determine the trend - set at 9 SMA

Q: why those values ? 9 for sma and 14,3 for RSI
A: you want to see the standard values used by the great majority of people, no fancy, lunatic numbers here.

Q: why renko charts?
A: because they only move as price moves, and i like this.

Q: what are the rules ?
A: trade on news, hold overnight positions, no preset stoploss, one contract only, any instrument you want

Q: are there exceptions for those rules ?
A: yes there are. like round up to two contracts, and set breakeven, as i progress i will probably demonstrate them.

Q: what are the entry points ?
A: RSI has touched its oversold/overbought levels , wait for the bar open and close below the 9 SMA then enter at its close. no entry after it has completed its profit target. however, you may entry above the close in case of a pullback, which would be even better
*RSI AVG MUST BE BELOW 29 AND ABOVE 71 FOR A VALID ENTRY*

Q: whats the profit target ?
A: the same amount of renko ticks, i am using 5-renko, so its 5 ticks profit target

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  #3 (permalink)
 jayminho 
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 cory 
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Q: how many entries can I expect per day ?

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  #5 (permalink)
 jayminho 
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cory View Post
Q: how many entries can I expect per day ?

one, two, sometimes none for days
since i trade a variety of instruments, there is always an entry
usually higher moving instruments (cl, si, gc ..) will have entries all the time in a lesser proportion the 6e, tf, emd ..
in very rare ocassions you will get, es, zc, and so on..

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 Big Mike 
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Wondering if you watched the Weissman webinar:



Since he uses RSI a lot in the sample strategies discussed during the webinar.

Mike

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 jayminho 
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Big Mike View Post
Wondering if you watched the Weissman webinar:



Since he uses RSI a lot in the sample strategies discussed during the webinar.

Mike

no..
ill take a look so

thanks a lot

any overview of what he says ??

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  #8 (permalink)
 Big Mike 
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jayminho View Post
any overview of what he says ??

Post 1 of that thread.

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  #9 (permalink)
 jayminho 
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Big Mike View Post
Post 1 of that thread.

Mike

trading is a casino ?

i have to agree with that.
he is damn right.
a cyclical casino.

patiente and cold blood!

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 Big Mike 
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jayminho View Post
trading is a casino ?

No, his book is learn to trade like a casino. In other words, with probabilities, with an edge, with the odds on your side.

Mike

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