I have been using trend following trading system and hedging, and I don't really like counter trend system that mostly are looking for reversal. Anyway, after viewing entries of a friend that using an ea, I found that it is easier and less risky if good setup is available.
Rules:
1. use daily chart
2. RSI default (until I can find better setting)
3. Sell at RSI above 70 (or 65 if there is nothing close to 70)
4. Buy at RSI bellow 30 (or 35 if there is nothing close to 30)
Stoch can be added as extra filter (but very lagging)
I have modified an ea (ten point three ) to use RSI as indicator for anyone to try. (please use safe setup if to be used on live account
The drawback is that we won't be able to see the setup in D1 everyday, but if it is available, good opportunity for profit with less risk
This robot could be used as a tool, with good settings there is a possibilities of good returns. most failure are due to lack of or poor money management. manual trade is not so difficult too.
today and current trades
Rules:
1. use daily chart
2. RSI default (until I can find better setting)
3. Sell at RSI above 70 (or 65 if there is nothing close to 70)
4. Buy at RSI bellow 30 (or 35 if there is nothing close to 30)
Stoch can be added as extra filter (but very lagging)
I have modified an ea (ten point three ) to use RSI as indicator for anyone to try. (please use safe setup if to be used on live account
The drawback is that we won't be able to see the setup in D1 everyday, but if it is available, good opportunity for profit with less risk
This robot could be used as a tool, with good settings there is a possibilities of good returns. most failure are due to lack of or poor money management. manual trade is not so difficult too.
Attached File(s)
10p3v1.9e 5D rsi M1111.mq4
20 KB
|
1,045 downloads
today and current trades
lucky 2024 All Time Return:
1.7%