Steven Primo: The Correct Way To Use The RSI In Forex Trading: Part 2 | Forex
Information | Currency | Markets | Fx | Video | Assets | Lesson | Trading
Date of issue: 12 May 2011. Speaker: Steven Primo. Steven Primo is a former Stock Exchange Specialist as well as a 34 year veteran of the markets. In this conclusion to his previous webinar he will show how the majority of Forex traders use the RSI incorrectly. Mr. Primo also will explain how to properly use the indicator and then share with you one of his best trading strategies based upon this tool and his unique concepts.
Comments
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Watched the video, reset my charts, back tested his strategy - and was blown away how accurate this is. My concern is the exit strategy to max profits; he doesn't cover that part (I understand why) - but still wish he did ;-)
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sorry.please provise email id
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E mail sent with attachment to your ID: brettn@specialisttrading.com has bounced
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If e- mail id is provided shall send the screen shots
Harichandran -
RSI 5 period and SMA 50 period position changes(very far or close) for different candlestick time frame. e g for one minute,5 minute and 15 minute etc, as such does not work when RSI is above 50/middle line
what is the recommended time frame for intra day Trading in Crude oil? kindly clarify some one
Regards,
Harichandran.M.T -
Crap RSI Settings ! (RSI Setting (2 or 3) 90/10 or 100/0- 30 Sec UP or DOWN - you will have less PUT or CALL but you will win 9 out of 10 times) Make money fast !
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nice one
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GUYS, for closing USE THE RETRACEMENT BREAK break downs
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Man great video, nice strategy, but here is what could bring more accuracy in this strategy, in this video between 28:35 and 30:35 mins, the strategy seems not working, if i may add, as you said the entry is above 50sma, and fails, but these two scenarios are ranging market (saying by seeing the 50sma crosses in to the sticks high and low/range)it may fall either side, that is y the failing happens, since we got plenty of pairs to choose from, instead trading ranging market, we could use a trending one, in that case the 50sma will be above or below the range of the sticks completely so the failing percentage will be reduced to minimum, fyi i use the same strategy with different sma's and rsi.
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What a hack
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buy at lows sell at highs, this is a formula for failure
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34:20 Divergences are not concrete, well nothing is concrete in trading so to say a strategy is not concrete should be seen as a sales pitch towards what is portrayed as a better CONCRETE strategy.......for that reason alone I would have to say to every novice, follow your ideas and research them and keep an open mind and DON"T just take a Youtube tutorial as a given even though it may look great at first glance.
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Tops and Bottoms are disaster he says, why? A disaster for the uneducated novice trader maybe! Shorting at the top offers the best risk to reward and it can be mastered with the correct knowledge. There are no right or wrongs in the market we just need to be on the right side when we take a trade.
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vERY NICE SETUP! Thank you.
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thank you for the rsi period 5 tip
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thank you
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An important question Steven : what about the trend change happening ? if we are higher than the 50 sma and the trend turns down , can we not short the pair or else we would miss out the big turn around ,keeping in mind the correct position of the RSI above or below the 50 SMA ? Thank you
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Dear sir,
with the sma of 50 & the modified rsi setting will this strategy work in intraday or day trading for stocks