The RSI 2 on GDX is currently at 1.97%. A while back on
May 3rd I posted a short term revision to the mean system on GDX
that went long when RSI 2 closed below 3% and the exited when RSI 2
closed back above 80%
The previous statistics had the RSI 2 on GDX closing below 3%,
here's the statistics if you only take the long trades when the RSI
2 closes at 2% or below.
Stats quite a bit better at 94% winning trades and the average
wining trade at 4% and average losing trade at -0.75%.
Largest winning trade 12%, largest losing trade still only
-0.75%.
the only issue is that there are only 18 data points, but that's
because it doesn't happen every often and GDX only goes back to
2006
as far as the GDX RSI 2 stats that I posted below, I posted
those for informational purposes, a member had send me a pm asking
me about the GDX RSI 2 system and therefore I also decided to
update and post the info on the blog as well. I'm not
advocating that you follow it or not follow it, just posted for
informational purposes
yes end of day, however the starts are still Ok even if an
oversold reading of 2.2 - 2.5 was used instead of 2.
But again realize that GDX is in a strong down trend, and while
those stats look good on the surface, you had to go through some
pain at times with the position being down a many times before
closing positive - average draw down is almost 5%
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The RSI 2 on GDX
GDX RSI strategy, RSI 2 closes below 3, see video and details
Posted by matt on 12th of Jul 2012 at 01:26 pm
The RSI 2 on GDX is currently at 1.97%. A while back on May 3rd I posted a short term revision to the mean system on GDX that went long when RSI 2 closed below 3% and the exited when RSI 2 closed back above 80%
here's a link to that post
http://breakpointtrades.com/blog/post/198543/
The previous statistics had the
Posted by matt on 12th of Jul 2012 at 01:41 pm
The previous statistics had the RSI 2 on GDX closing below 3%, here's the statistics if you only take the long trades when the RSI 2 closes at 2% or below.
Stats quite a bit better at 94% winning trades and the average wining trade at 4% and average losing trade at -0.75%. Largest winning trade 12%, largest losing trade still only -0.75%.
the only issue is that there are only 18 data points, but that's because it doesn't happen every often and GDX only goes back to 2006
Well nice reversal for GDX
Posted by matt on 12th of Jul 2012 at 03:33 pm
Well nice reversal for GDX when RSI 2 was below 2% earlier today, GDX is now almost flat for the day
as far as the GDX
Posted by matt on 12th of Jul 2012 at 02:12 pm
as far as the GDX RSI 2 stats that I posted below, I posted those for informational purposes, a member had send me a pm asking me about the GDX RSI 2 system and therefore I also decided to update and post the info on the blog as well. I'm not advocating that you follow it or not follow it, just posted for informational purposes
Do you need to wait
Posted by mgbarcia on 12th of Jul 2012 at 01:47 pm
Do you need to wait until the end of the day to enter on the system, or could we get in now?
yes end of day, however
Posted by matt on 12th of Jul 2012 at 02:20 pm
yes end of day, however the starts are still Ok even if an oversold reading of 2.2 - 2.5 was used instead of 2.
But again realize that GDX is in a strong down trend, and while those stats look good on the surface, you had to go through some pain at times with the position being down a many times before closing positive - average draw down is almost 5%