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The RSI Trade

  • #141
  • Feb 5, 2009 8:03am Feb 5, 2009 8:03am
Quoting andypips
Hi Kareem. I have explained some more just now. I will post another chart with my earlier entries that I took in a short while. I trade mainly 15 and 5 mins but some days it alll comes together on 1 minute. I find these settings that I use work on all time frames. I use the woodies cci as you can see on the charts. That is second to the rsi but i can remove it for any posts if you wish to keep the thread on rsi only.
Andy
Hi Andy,
Please keep everything. I have used the CCI and would like to see how you use it. I think use the RSI the same way as you, but I look at the length of the RSI trend, the longer the better the break( or bounce) set up is. It all makes since with your 45/55 set up. We are both looking at the same thing, but in a different way. I only use the 5M chart. Your posts are very interesting,Thanks.
Trade Garlic
  • #142
  • Feb 5, 2009 8:57am Feb 5, 2009 8:57am
Here the RSI long term trend is still holding, but there are scalp trades. If you trade those( I don't) smaller stopps and targets.
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD 2_5_2009 (5 Min).jpg Size: 150 KB
Trade Garlic
  • #143
  • Feb 5, 2009 9:52am Feb 5, 2009 9:52am
Nice one, still going.
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD 2_5_2009 (5 Min).jpg Size: 151 KB
Trade Garlic
  • #144
  • Feb 5, 2009 10:06am Feb 5, 2009 10:06am
Its still going. Again the longer the trendline the better the trade is.
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD 2_5_2009 (5 Min).jpg Size: 148 KB
Trade Garlic
  • #145
  • Feb 5, 2009 10:14am Feb 5, 2009 10:14am
Hi Kareem. just took this on the break of the trend line that you too had on yours. M5 chart and look at the lwma supporting the rsi into the break up .
In at 1.2798 out 1.2855.
I trailed the stop up by 15 pips ish. I took my pips for the day earlier so this trade breaks all the rules apart from not losing.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 43 KB
  • #146
  • Feb 5, 2009 10:24am Feb 5, 2009 10:24am
I would be happy to discuss how I use the cci in conjunction with the rsi. It is a bit detailed and might be easier if we spoke on skype or similar. I would like to know how you used it. Perhaps we could list some main points on here for the others.
I am really glad you started this thread as I have always believed that the rsi suits me best and just needed to believe in myself. Also as jtrade has said that his template is complete and rsi choice made, it's important to stick to one set of indis etc for a good period of time before jumping to another. I see you have the qqe on yours and I tried that with all time periods and qqe periods and it works well but I personally prefer the naked rsi.
If nothing else you can then trade it on any platform. I use metatrader on a htc mobile with their basic indis and using rsi like this helps me trade from the phone if I need to . The double cci that I use is from the fxprime thread that now has one or two follow up threads. I had cobbled one together before but this is much tidier.
andy
  • #147
  • Feb 5, 2009 10:29am Feb 5, 2009 10:29am
Quoting andypips
Hi Kareem. just took this on the break of the trend line that you too had on yours. M5 chart and look at the lwma supporting the rsi into the break up .
In at 1.2798 out 1.2855.
I trailed the stop up by 15 pips ish. I took my pips for the day earlier so this trade breaks all the rules apart from not losing.
Good point Andy. I see where the LWMA give an ealier(better) signal, and it kept you in the trade. I am still having a problem getting the LWMA on my RSI chart in Ninja.
Nice chart/nice trade.
Trade Garlic
  • #148
  • Feb 5, 2009 10:47am Feb 5, 2009 10:47am
Quoting kareem40
I am still having a problem getting the LWMA on my RSI chart in Ninja.
kareem40 : go here http://www.ninjatrader-support2.com/...ad.php?t=13972 post #4.

NB. This is the MA only, so you have to insert onto your chart and then put it into the same sub-pane as the RSI.
  • #149
  • Feb 5, 2009 10:52am Feb 5, 2009 10:52am
Thanks Kareem. I had that trend line on , but hadn't considered that there was a longer term trend going on with smaller trend lines within it. I will bear that in mind in future. I do however trade with 4 monitors(4 wide 1 high) and have m15,m5,m1 on eur/usd on 3 and the ig platform on the 4th. This allows me to see how the trend lines and lwma are behaving on higher and lower tf's if I use m5 to trade from. So I suppose that the longer term trend is always showing itself on the m15 for my consideration in a m5 trade.
What do you think of the doublewoodies cci. It has a 30sma in limegreen as an entry signal. F4 uses it in his journal ,but I am not sure who adapted it with the sma. Credit must go to him/her though as it can make some entries really clear.
As far as your ninja charts why noy try a mt4 demo.
Andy
  • #150
  • Feb 5, 2009 10:52am Feb 5, 2009 10:52am
Quoting andypips
I would be happy to discuss how I use the cci in conjunction with the rsi. It is a bit detailed and might be easier if we spoke on skype or similar. I would like to know how you used it. Perhaps we could list some main points on here for the others.
I am really glad you started this thread as I have always believed that the rsi suits me best and just needed to believe in myself. Also as jtrade has said that his template is complete and rsi choice made, it's important to stick to one set of indis etc for a good period of time before jumping to another....
I would like to chat some time, either thru skype or a chat room. I also used the FXprime CCI set up in the past. I do add one new indicator every week or so, just so I can improve my set up. But like you I am starting to think that all I need is the RSI .
Trade Garlic
  • #151
  • Feb 5, 2009 11:04am Feb 5, 2009 11:04am
Quoting jtrade
kareem40 : go here http://www.ninjatrader-support2.com/...ad.php?t=13972 post #4.

NB. This is the MA only, so you have to insert onto your chart and then put it into the same sub-pane as the RSI.
Thanks Jtrade. I will install today.
Kareem
Trade Garlic
  • #152
  • Feb 5, 2009 11:06am Feb 5, 2009 11:06am
Quoting andypips
Thanks Kareem. I had that trend line on , but hadn't considered that there was a longer term trend going on with smaller trend lines within it. I will bear that in mind in future. I do however trade with 4 monitors(4 wide 1 high) and have m15,m5,m1 on eur/usd on 3 and the ig platform on the 4th. This allows me to see how the trend lines and lwma are behaving on higher and lower tf's if I use m5 to trade from. So I suppose that the longer term trend is always showing itself on the m15 for my consideration in a m5 trade.
What do you think of the doublewoodies...
I have read many posts for F4 he is a good trader. After this week, I will exchange the QQE with the Double CCI and post. We will see. It might be better!
Thanks
Kareem
Trade Garlic
  • #153
  • Feb 5, 2009 11:11am Feb 5, 2009 11:11am
By the way, I have invited Mr. Seyedinajad to our forum. He is the trader who first wrote about this set up. I hope to hear from him soon.
Kareem
Trade Garlic
  • #154
  • Feb 5, 2009 11:25am Feb 5, 2009 11:25am
Quoting jtrade
kareem40 : go here http://www.ninjatrader-support2.com/...ad.php?t=13972 post #4.

NB. This is the MA only, so you have to insert onto your chart and then put it into the same sub-pane as the RSI.
Got it, and its working well thanks.
Trade Garlic
  • #155
  • Feb 5, 2009 12:01pm Feb 5, 2009 12:01pm
btw, I've found some of the Ninja coding to be differently implemented to Tradestation and MT4, so I usually compare charts side by side when first "migrating" a study, then adjust if necessary.
  • #156
  • Feb 5, 2009 12:08pm Feb 5, 2009 12:08pm
Quoting jtrade
btw, I've found some of the Ninja coding to be differently implemented to Tradestation and MT4, so I usually compare charts side by side when first "migrating" a study, then adjust if necessary.
Jtrade have you tried the RSI bands. I have been watching them for a couple of weeks on the 5m eur and they seem to work very well. They are good for a counter trend for a quick 20 or so pips. Look at my previous charts, you will see them there.
Kareem
Trade Garlic
  • #157
  • Feb 5, 2009 12:24pm Feb 5, 2009 12:24pm
Quoting andypips
Thanks Kareem. I had that trend line on , but hadn't considered that there was a longer term trend going on with smaller trend lines within it. I will bear that in mind in future. I do however trade with 4 monitors(4 wide 1 high) and have m15,m5,m1 on eur/usd on 3 and the ig platform on the 4th. This allows me to see how the trend lines and lwma are behaving on higher and lower tf's if I use m5 to trade from. So I suppose that the longer term trend is always showing itself on the m15 for my consideration in a m5 trade.
What do you think of the doublewoodies...
BTW, I like your screen set up. Which video card do you use/recommend.
Trade Garlic
  • #158
  • Feb 5, 2009 12:25pm Feb 5, 2009 12:25pm
Hi all,

Just wanted to pop in and say hello. I've read the whole thread and really like what I see. I've been looking for a way to really simplify my trading... as charts can get very busy with "indis" all over the place.

I will set up some charts with all your suggestions (really great btw )... and test on demo 'till I get comfortable with the signals.

Been a crazy day so far.. big moves on the yen crosses.

Cheers,

Jeff
Addicted and proud of it!
  • #159
  • Feb 5, 2009 12:30pm Feb 5, 2009 12:30pm
Quoting PiPsAddict
Hi all,

Just wanted to pop in and say hello. I've read the whole thread and really like what I see. I've been looking for a way to really simplify my trading... as charts can get very busy with "indis" all over the place.

I will set up some charts with all your suggestions (really great btw )... and test on demo 'till I get comfortable with the signals.

Been a crazy day so far.. big moves on the yen crosses.

Cheers,

Jeff
Welcome Jeff, I remember you from the chat room. I am looking forward to your posts.
Kareem
Trade Garlic
  • #160
  • Feb 5, 2009 12:47pm Feb 5, 2009 12:47pm
Quoting kareem40
Welcome Jeff, I remember you from the chat room. I am looking forward to your posts.
Kareem
Which chat room are you referring to?
Addicted and proud of it!
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