what rsi setting is best ?

This is a discussion on what rsi setting is best ? within the General Trading Chat forums, part of the Reception category; Typical case of him reading only the first half of a sentence before going off on a tangential diatribe....

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Old Jun 6, 2009, 2:07pm   #29
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Typical case of him reading only the first half of a sentence before going off on a tangential diatribe.
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Old Jun 6, 2009, 3:51pm   #30
 
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Originally Posted by HaloTrader View Post
Heres an explanation are requested.

Basically - New Trader, you'll see him around being sarcastic and glowing of failure.

He failed for many years at trading so hes bitter about it. He couldn't even make money using indicators rofl - hes that much of a fail. Therefore he walks around telling everyone they'll fail through a jealous rage when he sees potential success.

To conclude, indicators are fine unless your a failure in which case you'll fail at everything anyway.
So true, good post.
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Old Jun 6, 2009, 3:53pm   #31
 
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Originally Posted by danpayne View Post
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Megamuel you really are a diamond,

that website was exactly what I was looking for. I Actually have Bulkowski's book .The encyclopedia of chart patterns ,and if anyone is into pattern trading its a "must read book" , I work 48 hours between mon and friday and get to trade on friday as a regular stint witch leaves little time to do all the research required on the markets , I know some people say "backtest it your self"but with limited research time having you guys help point me in the right directionis a big help, Thanks again hope the hangover isnt to severe ? Tell me,, what markets do you trade ?
Why thank you, thank you. You'll remember to rep my post then.... Glad I could point you in the right direction. No hangover fortunately other than a slightly dicky stomach. I don't trade any markets at the moment! Been trading for around 9 months and was trading forex and hovering around break even but had a dispute with my spreadbetting company and stopped trading while that was going on. Just been refunded but I am going to withdraw my money and go direct instead. Good luck with your trading...

Sam.
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Old Jun 6, 2009, 3:54pm   #32
 
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Originally Posted by forker View Post
reputation on this board is more of a catwalk showing off how many buddies you have than anything else. if people new to trading believes someone posting something who has plenty of stars on his name means he knows what he is talking about would be better off listening to a monkey fart. i have given up with giving out reputation simply because i have seen plenty of names on here with tons of stars on their names handing out reputation to "pals" on posts that have nothing to do with trading at all. there might have been a time when it carried meaning but not anymore.
Not necessarily because new_trader has quite a lot of reputation but he has no buddies...
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Old Jun 6, 2009, 4:05pm   #33
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danpayne started this thread Thanks, Who were you using to spreadbet with ? and what happened ?
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Old Jun 6, 2009, 4:10pm   #34
 
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Originally Posted by danpayne View Post
"Evenning all"

what is the best rsi setting for spotting diveregence early ? I use the 20 day but not totally convinced,
RSI is a lagging indicator. I wouldn't recommend to use it.
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Old Jun 6, 2009, 4:15pm   #35
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danpayne started this thread depends how you use it and as long as you are aware that it is lagging and dont confuse it with a leading indicator, remember the key is to get the meat of the move not all of it so laggng can be good on certain set ups
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