Didgeridoo Trading System - page 3
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Hello,
is anyone else having problems understanding the RSI line settings at 40?
By the nature of the indicator, it is oscillating between 0 and 100.
A cross over at 40 for buys and sells makes it asymmetric.
Wouldn`t it make more sense to have a cross over at 60 for sells and 40 for buys (or vice versa) or a crossover at 50 for buys and sells?
Just trying to make sense out of it.
Hello,
is anyone else having problems understanding the RSI line settings at 40?
By the nature of the indicator, it is oscillating between 0 and 100.
A cross over at 40 for buys and sells makes it asymmetric.
Wouldn`t it make more sense to have a cross over at 60 for sells and 40 for buys (or vice versa) or a crossover at 50 for buys and sells?
Just trying to make sense out of it.Obviously, 50 would make it symmetric, but 40 seems to make money.
well I have made 40 + 60pips on micro with this today, but I've added my own rules :
Only go in Long with rule B if price has gone away from middle line (on 15 minute) and tested twice the lower regr line.
Only go in Long with rule A if price comes from below enough. If price comes from stagnating around the middle line (on the 15 minute) I dont go. Price has to have broken below the price staling at middle line. Or price has to come from an unbroken lower regr line.
Here are my 2 trades.
My take profit are not static, they rely solely on indicators, therefore adapting to the market.
When price hits next regr line or RSI14 hits above70 (below30if a sell), I get out.
In these 2 examples, I get out both trades at RSIMAX (above70)
100 pips in total.
You see prior to my first trade, no candles break out completely(close below any wick) of lower line, lower line can be considered tested twice here.
Thank you again for sharing jake, I will keep on following your posts and keep posting my trades if it doesnt get boring...
Leo
Only go in Long with rule B if price has gone away from middle line (on 15 minute) and tested twice the lower regr line.
Only go in Long with rule A if price comes from below enough. If price comes from stagnating around the middle line (on the 15 minute) I dont go. Price has to have broken below the price staling at middle line. Or price has to come from an unbroken lower regr line.
When price hits next regr line or RSI14 hits above70 (below30if a sell), I get out.
In these 2 examples, I get out both trades at RSIMAX (above70)
Leo-
Glad to hear you are making pip$ - those rules sound like excellent entry and exit rules to me, looking forward to your posts.
FXjake
Thnx FXjake, will keep you posted.
We had another profitable trade yesterday. +32 pips including the spread.
Now, I didnt take this trade since Id already reached my daily objectives, but I watched it happen.
notice how the price came from the lower regr line but did not break it more than once( to break it out again, it would have to BO of any wick out there...). If regr was dbl broken, I would not take the trade.
Now, since RSI 70 was already hit at time of sig, I wouldve used USDCHF for take profit. On the CHF, it reached below 30 on next candle, so I would be out in 15 minutes.
If CHF RSILOW(below30)was reached also at time of signal, I wouldve gotten out after 2 medium sized candles BO, next regr line, or waited till RSI retraced to above 40 and back to below 30.
i regr trace mod here https://www.forex-tsd.com/forum/debates-discussions/116-something-interesting-please-post-here/page74#comment_381859
fxbs, what is the trace mod ?
Is there any way to get this signal in backtesting?
fxbs, what is the trace mod ? Is there any way to get this signal in backtesting?
no idea
is there anyone with some results on this strategy ? because i have several doubts
is there anyone with some results on this strategy ? because i have several doubts
Well, I wouldn't trade anything with doubts.
The great thing about trading is that some things work for some people, and may not work for you.
There are too many ways to make money to spend time disagreeing with others on the "right" way to make money......
Happy Trading!