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Attachments: M5/15 RSI 50/50 Test Journal
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M5/15 RSI 50/50 Test Journal

  • #41
  • Apr 17, 2019 7:29am Apr 17, 2019 7:29am
Hi,

Thanks for putting in the time to explain your system. I look forward to learning from you.

Cheers,
pipShine
  • #42
  • Apr 17, 2019 8:02am Apr 17, 2019 8:02am
seems like a good combo, gbp negative news, cad positive news for today.
ITB - Seeing Orderliness amongst 'Randomness'
  • #43
  • Apr 17, 2019 8:55am Apr 17, 2019 8:55am
My first trade.
Breakout from top of box, RSI above MAs and and above 50 level.
This one went against me but was it a valid entry?

Love the thread!

Cheers,
pipShine
Attached Image (click to enlarge)
Click to Enlarge Name: 30c_UsdChf_M15_Apr17.png Size: 61 KB
  • #44
  • Edited 9:48am Apr 17, 2019 9:32am | Edited 9:48am
Quoting pipShine
My first trade. Breakout from top of box, RSI above MAs and and above 50 level. This one went against me but was it a valid entry? Love the thread! Cheers, pipShine {image}
hi pipshine
so nice to see you here.
before you trade the m15, take a look at h1. h1-m15 combo.
the h1 rsi is now into the 4th wave since above the 50 line. this could be the last wave of the up trend, which is not good for buy enttry.
your breakout entry was not a valid one because the m15 candle did not close above the resistance line. however a rectracement entry would get you in earlier (yellow dotted vertical line entry on the close of previous candle).
i think you have the sma attached to the rsi wrongly. both sma should be attached to the first indicator. download my template and compare. the tdi too - blank out the bands. they should both show the same info.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 27 KB
Attached Image
ITB - Seeing Orderliness amongst 'Randomness'
  • #45
  • Edited 10:50am Apr 17, 2019 10:40am | Edited 10:50am
i have been thinking how to better the odds when selecting the pair we are going to trade.
something struck me........ before your entry, you can have a quick visual to see the trending condiions on
the price chart that the 50 sma of m30-5 combo (or whatever combo you want) is green and pointing up.
or
the rsi of m30-5 combo (or whatever combo you want) is green and pointing up.
======> good for buying
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 46 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #46
  • Apr 17, 2019 12:57pm Apr 17, 2019 12:57pm
Quoting Inthebox
{quote} hi pipshine so nice to see you here. before you trade the m15, take a look at h1. h1-m15 combo. the h1 rsi is now into the 4th wave since above the 50 line. this could be the last wave of the up trend, which is not good for buy entry.
Yes, I only looked at the M15 chart. Your explanation was very clear - I'll be sure to watch the H1-M15 combination from here on in. I do understand that an MTF approach can filter out a lot of losing trades.
Quoting Inthebox
{quote}your breakout entry was not a valid one because the m15 candle did not close above the resistance line. however a retracement entry would get you in earlier (yellow dotted vertical line entry on the close of previous candle).
I wasn't certain if the candle had to close or just break through. Thanks for clarifying that.
Quoting Inthebox
{quote}i think you have the sma attached to the rsi wrongly. both sma should be attached to the first indicator. download my template and compare. the tdi too - blank out the bands. they should both show the same info. {image} {image}
And many thanks for catching my incorrect set-up! I had attached the MAs to the previous indicator - not the first indicator. So now I've installed the correct indicators and template - I've only changed the colours. (I find the black very distracting). I'm assuming that the TDI is unnecessary as it does show the same information as the custom RSI - as you mentioned. So I will leave the TDI off my chart.

I'm going to spend the rest of the week studying the system rules and your advice and suggestions so that I can take fewer avoidable losses. Thanks for your feedback and for starting this thread - I'm excited to further my education in forex!

Cheers,
pipShine
  • #47
  • Apr 17, 2019 4:15pm Apr 17, 2019 4:15pm
Quoting Inthebox
I did it my way ........ drummer steals the show.
Proving yet once again that it's not what you do - it's how you do it...
  • #48
  • Apr 18, 2019 1:04am Apr 18, 2019 1:04am
a nice rsi dashboard for you and my setting. upper rsi 55 and lower rsi 45 to allow more leeway.
Attached Images
Attached File(s)
File Type: ex4 Dashboard RSI v2.ex4   24 KB | 377 downloads
ITB - Seeing Orderliness amongst 'Randomness'
  • #49
  • Apr 18, 2019 2:39am Apr 18, 2019 2:39am
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 35 KB

price broke down trend line and fractal. rsi below 0.
ITB - Seeing Orderliness amongst 'Randomness'
  • #50
  • Apr 18, 2019 7:05am Apr 18, 2019 7:05am
Attached Image (click to enlarge)
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ITB - Seeing Orderliness amongst 'Randomness'
  • #51
  • Apr 18, 2019 7:37am Apr 18, 2019 7:37am
i think gu is not going to hold for long. all time frame rsi is below 50 line.
ITB - Seeing Orderliness amongst 'Randomness'
  • #52
  • Apr 18, 2019 12:08pm Apr 18, 2019 12:08pm
Attached Image (click to enlarge)
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ITB - Seeing Orderliness amongst 'Randomness'
  • #53
  • Apr 19, 2019 12:58am Apr 19, 2019 12:58am
bank holidays -> mostly ranging
ITB - Seeing Orderliness amongst 'Randomness'
  • #54
  • Apr 19, 2019 9:52am Apr 19, 2019 9:52am
in days like this, just take 5 pips and do something else. price never really break out of day open or pivot.
Attached Image (click to enlarge)
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ITB - Seeing Orderliness amongst 'Randomness'
  • #55
  • Apr 19, 2019 10:51am Apr 19, 2019 10:51am
i have just updated post# 1.
from time to time i rephrase the wordings so as to better convey my ideas.
ITB - Seeing Orderliness amongst 'Randomness'
  • #56
  • Apr 22, 2019 7:54pm Apr 22, 2019 7:54pm
here on the h1 i draw trend line on the rsi when the blue 13 sma is sloping upward during down trend while the rsi 50 is under 50 line.
once rsi breaks the trend line, one can enter trade either on h1 or in the lower time frame. i was not around during that time.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 34 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #57
  • Apr 22, 2019 8:17pm Apr 22, 2019 8:17pm
Sold GBP/JPY on M15. PA below pivot and daily open.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM15.png Size: 33 KB
  • #58
  • Apr 22, 2019 8:37pm Apr 22, 2019 8:37pm
Quoting kellycml
Sold GBP/JPY on M15. PA below pivot and daily open. {image}
nice timing
ITB - Seeing Orderliness amongst 'Randomness'
  • #59
  • Apr 22, 2019 8:39pm Apr 22, 2019 8:39pm
Quoting Inthebox
{quote} nice timing
Thank you... taking baby steps to learn how to scalp
  • #60
  • Apr 22, 2019 8:59pm Apr 22, 2019 8:59pm
Attached Image (click to enlarge)
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ITB - Seeing Orderliness amongst 'Randomness'
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