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The RSI Trade

  • #701
  • Dec 21, 2009 8:46am Dec 21, 2009 8:46am
Quoting paidperpip
G'day Sreeprakash,

I don't want to insult your intelligence, because you may very well know what I am about to say, so I hope that you are not offended. I offer the following advice in the knowledge that advice is generally free, and in the hope that you may benefit from it:

Firstly, TP's and SL's need to be individual to the setup you are running... All of which will hinge on how much you qualify a trade before you enter into it. If you can weed out some of the false trades in some manner, it will reduce the number of losers you get into, and...
Hi PPP,
Thank you for the post and EA, but it does not seem to work for me!! I keep getting a messge saying to place a hard stop, but none are placed.
Kareem
Trade Garlic
  • #702
  • Dec 21, 2009 8:53am Dec 21, 2009 8:53am
Sorry wrong setting on the last post. Revised post attached.
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Trade Garlic
  • #703
  • Edited 11:13pm Dec 21, 2009 11:01pm | Edited 11:13pm
Quoting kareem40
Hi PPP,
Thank you for the post and EA, but it does not seem to work for me!! I keep getting a messge saying to place a hard stop, but none are placed.
Kareem
Hi Kareem,

Firstly, make sure that the Expert Adviser on the toolbar is clicked. This should turn the into a .

Secondly, ensure that under the Common tab in the EA's dialogue box, Allow Live Trading has been ticked. If the EA has a X next to it, that should fix it.

If the EA itself is working fine, and you are looking for the Hard Stop, it should appear when you click Ok. It will be a dotted red line.

Any other problems, let me know.

PPP
How do you make a small fortune in Forex? Start with a large one!
  • #704
  • Dec 22, 2009 3:41am Dec 22, 2009 3:41am
Thank you PPP and kareem...

That eurousd trendline is awesome...

Currently I am trying to incorporate volume trading on RSI trendlines...
My idea is, check RSI for a trade, then check volume, if volume and RSI confirm the trade, then trade!...

This is what I am currently trying...
http://www.forexfactory.com/showthread.php?t=146436

If anyone is able to give some advices, it will be big help...
Thanks...
ABCD..
  • #705
  • Dec 22, 2009 6:22am Dec 22, 2009 6:22am
Quoting sreeprakash
Thank you PPP and kareem...

That eurousd trendline is awesome...

Currently I am trying to incorporate volume trading on RSI trendlines...
My idea is, check RSI for a trade, then check volume, if volume and RSI confirm the trade, then trade!...

This is what I am currently trying...
http://www.forexfactory.com/showthread.php?t=146436

If anyone is able to give some advices, it will be big help...
Thanks...
I will take a look sreeprakash.
Thanks
Kareem
Trade Garlic
  • #706
  • Dec 22, 2009 6:23am Dec 22, 2009 6:23am
Still holding!!
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Trade Garlic
  • #707
  • Dec 23, 2009 1:40am Dec 23, 2009 1:40am
Hi Kareem, jtrade, andy, sreeprakash. - I`ve been reading this thread since Monday, a big thank you to all of you. I will resume my trading early january and hope to post some charts too.

Simplicity is the key to brilliance.... ( Bruce Lee )

Merry Xmas and a Happy New Year !

Be like water.
  • #708
  • Dec 23, 2009 5:19am Dec 23, 2009 5:19am
Quoting msmarple
Hi Kareem, jtrade, andy, sreeprakash. - I`ve been reading this thread since Monday, a big thank you to all of you. I will resume my trading early january and hope to post some charts too.

Simplicity is the key to brilliance.... ( Bruce Lee )

Merry Xmas and a Happy New Year !

Welcome and thank you for the kind post msmarple. I look forward to your posts.
Kareem
Trade Garlic
  • #709
  • Dec 23, 2009 5:22am Dec 23, 2009 5:22am
EURUSD should move up nicely here,
Kareem
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Trade Garlic
  • #710
  • Edited 5:53am Dec 23, 2009 5:52am | Edited 5:53am
I am in; long.
Kareem
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Trade Garlic
  • #711
  • Dec 23, 2009 8:34am Dec 23, 2009 8:34am
Good trade K. Still in it I hope. I'm short of cable myself, 30 pips up at the moment. It's been up and down all day. I had to pop out when it hit the daily pivot or I would have added some more. Took 120 in one go yesterday (rather than 20 and out) so have some spare to play with in the anticipation that cable may tank south.
Will wait for a bit now all news out of the way.
Andy
  • #712
  • Dec 23, 2009 8:40am Dec 23, 2009 8:40am
Quoting andypips
Good trade K. Still in it I hope. I'm short of cable myself, 30 pips up at the moment. It's been up and down all day. I had to pop out when it hit the daily pivot or I would have added some more. Took 120 in one go yesterday (rather than 20 and out) so have some spare to play with in the anticipation that cable may tank south.
Will wait for a bit now all news out of the way.
Andy
Hi Kareem I have following trades running.
Eur/Usd buy @ 1.4316 TP @ 1.4339
Gbp/Usd Sell @ 1.5942 TP @ 1.5926
Usd/Jpy Sell @ 91.44 TP @ 91.00
Please correct me if I am wrong.
Thanks in advance.
  • #713
  • Dec 23, 2009 8:55am Dec 23, 2009 8:55am
looking good so far, am trailing with a firm 100 pip Target.
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Trade Garlic
  • #714
  • Dec 23, 2009 8:57am Dec 23, 2009 8:57am
Quoting andypips
Good trade K. Still in it I hope. I'm short of cable myself, 30 pips up at the moment. It's been up and down all day. I had to pop out when it hit the daily pivot or I would have added some more. Took 120 in one go yesterday (rather than 20 and out) so have some spare to play with in the anticipation that cable may tank south.
Will wait for a bit now all news out of the way.
Andy
Nice trade to you as well Andy.
Kareem
Trade Garlic
  • #715
  • Dec 23, 2009 8:59am Dec 23, 2009 8:59am
Quoting behman8850
Hi Kareem I have following trades running.
Eur/Usd buy @ 1.4316 TP @ 1.4339
Gbp/Usd Sell @ 1.5942 TP @ 1.5926
Usd/Jpy Sell @ 91.44 TP @ 91.00
Please correct me if I am wrong.
Thanks in advance.
Hi Behman,
I only watch and trade the EURUSD and my target is 1.4370 with a trailing stop ( see above). I do like that trade.
Thanks for the post.
Kareem
Trade Garlic
  • #716
  • Edited 2:35pm Dec 23, 2009 1:17pm | Edited 2:35pm
I am still holding. Got close to my target ( 92 pips), but gave back some.
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Trade Garlic
  • #717
  • Dec 24, 2009 12:18am Dec 24, 2009 12:18am
Morning kareem.
Looks like you made your 70 level if your trailing stop didn't kick in first.
I got out my cable for 20 as it started to climb back up.
Short again now for some quick points back down to this trendline. Will be worth watching when it gets there. i think it will coincide with a touch of the 89 and 200emas.
Hope everyone has a good time over xmas.
Andy.
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  • #718
  • Dec 24, 2009 1:09am Dec 24, 2009 1:09am
Took 20 on the way down 6006 down to 5986. It now has come to rest on the rsi t/line and the emas.If the rsi can hold below the rsi50 level it may go further. I think it will sit around here for a while now though.
I think thats me done for the day.
Andy
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  • #719
  • Dec 24, 2009 5:14am Dec 24, 2009 5:14am
Nice trades Andy. great set ups. And yes I got my target (100). I trail at 55, which usually gives it plenty of room to move. I am flat for now, will wait for another set up.
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Trade Garlic
  • #720
  • Dec 24, 2009 5:35am Dec 24, 2009 5:35am
Two possible breaks. First break would be good for 20-30, second 40-100 ( since it is with the long term trend).
Kareem
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Trade Garlic
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