Hello all, here's a video that I just made showing you an ultra
simplistic system using a standard 14 length RSI and getting long
or short triggers when price tags or gets very close to the 50%
level on the RSI. Your trigger is taking back at least 50% or
more of the previous candle similar to the method Steve shows in
his tutorials. Anyway it's pretty simple, but figured I'd share it
with you guys. This method works with any stock, seems to work best
on the daily time frames per my observations.
I covered the time above or below 50% filter, did you listen to
the video closely? I stated that one should probably set a
variable for the time the RSI has been above 50% in order to take
longs and below in order to take shorts, however I didn't give you
a number like 4 days or 6 days, that can't really be determined
without running some tests/history, I'd say minimum though would
probably be at least 4 days but preferably longer.
As I said, this isn't a refined system, there's no exit, you
have to determine that on your own, think of this as a useful tool
and a starter perhaps that could be built into system. I will
probably try to build a system on this method when I have some
time,
in the meantime I was simply sharing with you my
observations
the URL is fine, looks like Amazon S3 service is down for the
moment, should be back up soon though then the video will work,
once it's up I'll email out
Simple system using the 50% level on a 14 Length RSI
Posted by matt on 30th of Sep 2014 at 03:41 pm
Hello all, here's a video that I just made showing you an ultra simplistic system using a standard 14 length RSI and getting long or short triggers when price tags or gets very close to the 50% level on the RSI. Your trigger is taking back at least 50% or more of the previous candle similar to the method Steve shows in his tutorials. Anyway it's pretty simple, but figured I'd share it with you guys. This method works with any stock, seems to work best on the daily time frames per my observations.
CLICK HERE to watch the video
enjoy the rest of your day
Matt
Thank you Matt. Fantastic video!
Posted by zenman on 1st of Oct 2014 at 11:56 pm
Thank you Matt. Fantastic video!
as a real time example,
Posted by matt on 30th of Sep 2014 at 05:09 pm
as a real time example, MMP would have triggered long based on that method today, we'll see if it gives a trade or not
Matt, why you did not
Posted by cuqui69 on 1st of Oct 2014 at 08:12 am
Matt, why you did not take the trigger 4 days before? The candle was 50% greater than the previous day!
I covered the time above
Posted by matt on 1st of Oct 2014 at 09:37 am
I covered the time above or below 50% filter, did you listen to the video closely? I stated that one should probably set a variable for the time the RSI has been above 50% in order to take longs and below in order to take shorts, however I didn't give you a number like 4 days or 6 days, that can't really be determined without running some tests/history, I'd say minimum though would probably be at least 4 days but preferably longer.
As I said, this isn't a refined system, there's no exit, you have to determine that on your own, think of this as a useful tool and a starter perhaps that could be built into system. I will probably try to build a system on this method when I have some time, in the meantime I was simply sharing with you my observations
okay works now
Posted by matt on 30th of Sep 2014 at 04:01 pm
okay works now
the URL is fine, looks
Posted by matt on 30th of Sep 2014 at 03:47 pm
the URL is fine, looks like Amazon S3 service is down for the moment, should be back up soon though then the video will work, once it's up I'll email out
the video was working, please
Posted by matt on 30th of Sep 2014 at 03:46 pm
the video was working, please wait a few min, trying to figure out way and I wil fix it