Scalping with RSI

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taha22

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I'm scalping these days only with RSI(2) and RSI(14) in 1 min chart

Buyin' at RSI(14) is under 25
Over Buyin' at RSI(14) is under 25 and RSI(2) is under 1

Sellin' at RSI(14) over 75
Over Sellin' at RSI(14) is over 75 and RSI(2) is over 99

"Over buying and over selling" is 5 times normal selling or buying amount

it works fine these days

Does anyone tries something like that?

What could be disadvantages?
 
taha22 said:
I'm scalping these days only with RSI(2) and RSI(14) in 1 min chart

Buyin' at RSI(14) is under 25
Over Buyin' at RSI(14) is under 25 and RSI(2) is under 1

Sellin' at RSI(14) over 75
Over Sellin' at RSI(14) is over 75 and RSI(2) is over 99

"Over buying and over selling" is 5 times normal selling or buying amount

it works fine these days

Does anyone tries something like that?

What could be disadvantages?
Click to expand...



Disadvantages: If you got it wrong you will have no money left.

"over buying and over selling"- this sounds a bit worrying. How about just buying, then if you really must, buying just a little more, say, two times. I suppose it depends how much of your account you are risking.

How long have you been doing this? What markets are you scalping?
 
Looks good!

taha22 said:
I'm scalping these days only with RSI(2) and RSI(14) in 1 min chart

Buyin' at RSI(14) is under 25
Over Buyin' at RSI(14) is under 25 and RSI(2) is under 1

Sellin' at RSI(14) over 75
Over Sellin' at RSI(14) is over 75 and RSI(2) is over 99

"Over buying and over selling" is 5 times normal selling or buying amount

it works fine these days

Does anyone tries something like that?

What could be disadvantages?
Click to expand...


I have been using your method with small changes and have great results. I look at mult. pairs using same rsi(14)(2), the 5 min tf seems to be a filter of mine because of spreads looking for 8-10pip moves. My twist however instead of overbuyin', I use my margin call as an airbag stop, max out number of lots that can be traded on the pair. Since it's a scalp the max drawdown you can accept is worst case a margin call, but with reapeat wins your seriously compounding gains. From my experience more than 75% poss over 90% are in your favor. So even taking 1 in 4 losses you are up as your acct goes up so does your risk margin. Thus protecting your gains as you increase. My theory is do what 98% traders don't as they are the group loosing money any way.

Just my 2 cents. Sorry to offend any one with this type of MoneyManagement.
 
i tried similar strategy with RSI (14) when i was testing different things

i tried it for two weeks with no good results

why dont you learn the price action ? after a while you will find easier than following RSI
 
RSI is certainly a useful tool in Range-bound markets, but using it when a market is trending can rip your face off as a security can remain overbought or sold for a while. I relied solely on RSI when I started, with success, but my luck soon ran out.

I'd recommend using a blend of MACD Histogram, RSI, an MA with envelopes on your security, with appropriate time lenghts. This way, you get more information, which means you avoid making excessively risky trades, and when the align you get a great trade signal.

RSI can be hugely powerful when looking for bullish/bearish divergences - when the price direction and RSI direction go in opposite directions.

Happy scalping.
 
SuperScalper said:
i tried similar strategy with RSI (14) when i was testing different things

i tried it for two weeks with no good results

why dont you learn the price action ? after a while you will find easier than following RSI
Click to expand...

superscalper I am very much interested to learn the price action would you plz help me.
actually I am just tired off those technical indicators and want to learn something else.
In my 9yrs Trading life I found "THE RAW PRICE" can tell evrything.
but I dont know how,please put some light on it.
Thanx in advance
 
If you give example picture, it will be very appreciated and very clear to trade ... Thanks
 
I hate to break this to you is that, Superscalper may not have the answer for you. This will ultimately lie on your shoulders no one is going to teach you price action but your self. Trading is a long hard journey. After 9 years of trading you should probably know more about price action than superscalper. What have you been looking at all these years?????

Put up a chart, (any time frame). Take off all the indicators, remove the grid lines from the price chart and stare at it in live mode for another nine years. just kidding it should not take you this long this time around. and study how the price trends up, consolidates in topping action then trends down, then consolidates in a bottoming action and resumes either a up or down trend. And pay attention this time around.
 
Quote:
Originally Posted by sdebu_2000 View Post
Super Scalper!!!!!!!!

please answer.we are waiting 4 ur reply


I hate to break this to you is that, Superscalper may not have the answer for you. This will ultimately lie on your shoulders no one is going to teach you price action but your self. Trading is a long hard journey. After 9 years of trading you should probably know more about price action than superscalper. What have you been looking at all these years?????

Put up a chart, (any time frame). Take off all the indicators, remove the grid lines from the price chart and stare at it in live mode for another nine years. just kidding it should not take you this long this time around. and study how the price trends up, consolidates in topping action then trends down, then consolidates in a bottoming action and resumes either a up or down trend. And pay attention this time around.
 
sdebu_2000 said:
superscalper I am very much interested to learn the price action would you plz help me.
actually I am just tired off those technical indicators and want to learn something else.
In my 9yrs Trading life I found "THE RAW PRICE" can tell evrything.
but I dont know how,please put some light on it.
Thanx in advance
Click to expand...

Take a look at some of my responses on the other thread entitled "what is price action????" I hope it helps you out. I'm just sorry it took you 9 years to find it
 
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