Quoting mikejodyDislikedI'm really glad it is working for you, may I ask how long it has been working?Ignored
Tkimble
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Dear Full time/Part time Traders – Thanks for your time and help 7 replies
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Quoting traderoneDislikedI think he means above or below the 50 line on the RSI.
I haven't seen the period setting for the RSI change from 45.Ignored
Quoting coolshadesDislikedTraderone is right. RSI IS 45.. lets not be changing the parameters here willy nillyIgnored
Quoting tkimbleDislikedIt is human nature to want to tinker with things. Even trading systems while nuturing our sustained quest to find the perfect system. I have learned that there is such thing as good enough. The enemy of good enough is perfection.
This system works well and produces a very attractive income. I am always being questioned by my wife as to why I always order the same thing when I go to the same diner. The answer is always the same, "becuase I like it".
I have found something that works for me. Does not mean it will work for you.
Happy trading,
TkimbleIgnored
Quoting tkimbleDislikedOne way to avoid the choppiness during flat markets is to only execute a Long trade when the RSI is above 50 and the closing price is above the 50 SMA High. The opposite would be to only execute a Short trade when the RSI is below 50 and the closing prices is below the 50 SMA Low.Ignored
Quoting tkimbleDislikedOnly enter when all the conditions for a trade have been met:
SHORT: RSI below 50 and 30 MIN bar has closed below the 50 SMA low
LONG: RSI above 50 and 30 MIN bar has closed above the 50 SMA High
It is that simple..
Happy Trading,
TkimbleIgnored
Quoting traderoneDislikedNewstrader...
Please refer to posts 176 and 186. There you go!Ignored
Quoting forexdanofsaDislikedI read that you plot 3 (50) mas, a high a low and a close. The system has worked good for me.
DaveIgnored
Quoting snagsDislikedIn MT4 plot your first 50 SMA selecting "apply to: high".
Plot another 50SMA again but "apply to: low".
Then same again but "apply to: close"
Hope this is helps.Ignored
Quoting snagsDislikedNewstraderFX, here you go.Ignored
Quoting tkimbleDislikedIt is human nature to want to tinker with things. Even trading systems while nuturing our sustained quest to find the perfect system. I have learned that there is such thing as good enough. The enemy of good enough is perfection.
This system works well and produces a very attractive income. I am always being questioned by my wife as to why I always order the same thing when I go to the same diner. The answer is always the same, "becuase I like it".
I have found something that works for me. Does not mean it will work for you.
Happy trading,
TkimbleIgnored
Quoting SliverBDislikedThis is a fantastic post.
I think the desire for perfection issue is one of the biggest psycological hurdles.
If we can give that away we will find alot of stuff working good enough.
One of my issues with perfection is the fear of missing trades. i.e. I may be asleep or at work when a signal comes. TKimble what is your experience with this? Do you feel if you are not available to take signals sometimes it will wreck the profitablity of your system, or have you accepted that some trades you are simply going to miss, and it all should still work out profitably in the end?
SilverBIgnored
Quoting johnedoeDislikedOK the question still remains unaswered regarding the MA.........
So what is it a 5MA as originaly posted.
or a 50 MA as later posted,
or a triple 50 MA using open, median, and close.
the RSI still seems to be intact though.Ignored