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RSI + MA
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RSI + MA

  #1 (permalink)
Elite Member
hell de janeiro
 
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RSI + MA

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


Last edited by jayminho; April 25th, 2012 at 10:35 PM.
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  #3 (permalink)
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Q: how many entries can I expect per day ?

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  #5 (permalink)
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hell de janeiro
 
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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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  #6 (permalink)
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Wondering if you watched the Weissman webinar:

https://futures.io/elite-circle/19541-webinar-richard-weissman-finding-your-edge-managing-risk.html

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

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
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  #7 (permalink)
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hell de janeiro
 
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Big Mike View Post
Wondering if you watched the Weissman webinar:

https://futures.io/elite-circle/19541-webinar-richard-weissman-finding-your-edge-managing-risk.html

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)
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jayminho View Post
any overview of what he says ??

Post 1 of that thread.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #9 (permalink)
Elite Member
hell de janeiro
 
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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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  #10 (permalink)
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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

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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