Disliked{quote} I meant what are your RSI settings for Period, Apply_to, High and Low Levels (defaults for v11a are 2,5,85,15). As you have not mentioned them I assume you left them at the default values. Also how did you decide which trade (buy or sell only) direction to apply ?Ignored
as far as direction, it was just a random decision to choose 'Buy'.
in my DB example, my Basket EL was hit twice...the second time my Basket EL was hit, i noticed RSI was showing a lot more pairs with Red signals, so i switched to 'Sell'... the basket turned Red, i made sure i monitored them and so after a certain amount i decided to just close the basket and revert back to 'Buy'.
this 'Buy' basket was able to recover the lost pips on the 'Sell' basket.
one take away for me last week is, if you decide on a direction, stay on that direction for the week...because that change of direction is only for correction and market will resume to its original direction.
I will also pay attention to EG as this pair should not be in same direction as the other GBP pairs... meaning if most GBP are 'Buy', EG should be 'Sell'.
what happened was, RSI gave a 'Buy' signal for EG as well as all GBP pairs...so while the GBP pairs are showing green pips, EG showed red pips.. if this happens, manually change EG direction or turn it off.
hope it makes sense.
i'm trying to make it simple now... my technical analysis skills is not good lol...
When the internal struggle ends, everything becomes easy - Mr. Douglas