Scalping With RSI

Discussion in 'Trading Systems and Strategies' started by totom, Dec 11, 2016.

  1. totom

    totom Trader

    Hello respective forex traders,

    Today I'd like to share my simple scalping strategy using RSI. Unfortunately it isn't a perfect one that you could automate it and leave it to farm pips for you but you must wait 'till a time and you do it the manual way.

    Following is the main rule:
    • Wait 'till market is moving enough for example Euro opening
    • Apply RSI on the 15 minutes chart
    • Wait 'till it reached level of 70
    • Wait 'till it down again and down pass level of 50
    • Open a sell order with Take Profit is 1/5 of Stop Loss
    • Do the opposite for buy order
    Please remember to don't too many trades but 1-2 winning trade.
    Please do this strategy on your own risk as you're already a big forex trader.

    For the example please refer to following video:

    Thank you for reading my post, I hope it's work for you and happy trading!
    HamzaYakoob likes this.
  2. rod r cameron

    rod r cameron Newbie

    wow that.s a great system

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