clam61
92 posts
msg #44499
- Ignore clam61
modified |
6/1/2006 5:55:23 PM
TRO talks about RSI(2) a lot and it was hard getting all the info out, but I used RSI(2) on TIE. I had a 10 day 60 minute period chart.
RSI(2) was making higher lows as the price was decreasing. I trusted TRO and loaded up.
Since it was a 60 minute time frame I didn't sit there and stare at the stock. It dropped a bit more after I bought, but TRO knows what he is talking about so I held on. Today I was greatly rewarded as TIE exploded.
Thanks TRO!
TRO, if you would be so kind, I would like to know your daytrading chart setup. I know RSI(2) with a 10 day 60 minute chart is one of them, but what other setups do you use?
|
nikoschopen
2,824 posts
msg #44502
- Ignore nikoschopen |
6/1/2006 6:32:42 PM
Clam,
With all due respect, I have much difficulty following ure exposé. As I understand, one of the rules TRO states regarding RSI(2) is that it need to fall below the reading of 1. As I glean over the chart of TIE on the 10-day 60-min timeframe, as you indicated, I see that RSI(2) has remained above 60 throughout the day. Taking the daily timeframe under consideration, I again see that the RSI never fell below 20 (as of yesterday's close). I'm in no position to argue with you since I don't formally belong in the RSI(2) camp, but would like to hear ure rationale on just what motivated you to pull the trigger nonetheless.
Thx in advance.
BTW, congrats on ure perseverance which paid off handsomely.
|
clam61
92 posts
msg #44522
- Ignore clam61 |
6/2/2006 1:59:06 AM
pull up a 10 day, 60 minute chart. RSI(2) fell to 2 point something early tuesday.
it started to rise as the price continued to fall. this divergence is what made me pull the trigger.
|
TheRumpledOne
6,407 posts
msg #44553
- Ignore TheRumpledOne
modified |
6/2/2006 8:58:36 PM
My daytrading chart setup.
If you are talking pure trading, then go to my yahoo forum and look at the screenshots I posted.
http://finance.groups.yahoo.com/group/TheRumpledOne
Nice TIE trade!
Have to love RSI(2) and positive divergence :)
MAY ALL YOUR FILLS BE COMPLETE.
|
nikoschopen
2,824 posts
msg #44925
- Ignore nikoschopen |
6/13/2006 3:42:58 PM
It's no secret that RSI(2) is perhaps the favorite filter among the bargain hunters. This is especially true when they dance to the tune of the bulls that rally the market ever higher. But can they tango to the beat of the bears that show no remorse about pounding the already butchered market further yet?
|
TheRumpledOne
6,407 posts
msg #44934
- Ignore TheRumpledOne |
6/14/2006 12:06:40 AM
That's where the MIDDLE comes in!
You don't enter UNTIL the price crosses above the previous day's middle.
You'll see, you don't lose if you do this.
MAY ALL YOUR FILLS BE COMPLETE.
|
clam61
92 posts
msg #45179
- Ignore clam61 |
6/22/2006 3:34:19 AM
yes the middle works well.
other popular entry points are pivots, but personally i use the middle method devised by TRO
|
nramesh30
4 posts
msg #46100
- Ignore nramesh30 |
7/28/2006 10:43:21 PM
Hi TRO and others,
I'm totally new to RSI setup. I went through all the previous posts detaildly. But still have few doubts
Heres my understanding. Please let me know if this is correct
1) Run the RSI(2) filter during the night and keep a list of stocks
2) monitor those stocks during the next day trading session.
3) if the price crosses the middle of yesterday's trading range, then buy
do i also need to monitor the 10 day 60-minute chart to make the entry point?
Please help
Thanks
|
TheRumpledOne
6,407 posts
msg #46110
- Ignore TheRumpledOne |
7/29/2006 9:44:51 PM
nramesh30
- Ignore nramesh30
- Report offensive post 7/28/2006 10:43:21 PM
Hi TRO and others,
I'm totally new to RSI setup. I went through all the previous posts detaildly. But still have few doubts
Heres my understanding. Please let me know if this is correct
1) Run the RSI(2) filter during the night and keep a list of stocks
2) monitor those stocks during the next day trading session.
3) if the price crosses the middle of yesterday's trading range, then buy
do i also need to monitor the 10 day 60-minute chart to make the entry point?
Please help
Thanks
===========================================================================
1) RSI(2) and THE MIDDLE are different strategies.
2) Yes, monitor is you can.
3) If the price crosses above the middle, then enter long. If the price crosses below, then enter short.
The 10d/60m is for pinpointing your entry. Use the middle of the previous 60 minute candle. Go long on green candles and short on red on the middle cross.
HTH.
|
nramesh30
4 posts
msg #46111
- Ignore nramesh30 |
7/29/2006 11:15:10 PM
TRO,
Thanks for your help. I read many great things about u and your filter .
Is it better to the use the simple RSI(2) < 1 filter or the one which uses DMA along with RSI(2)?
thanks
|