I've been saying that for years on ET, RSI is useless when used conventionally as an overbought oversold indicator. However it does have other uses, especially for stocks as a means for assisting in finding quality. You need to be able to code it into an algo, not as a chart based indicator.
yes of course but my point: is you can just use your eyes to compare the past with the present and the past need not be restricted to 14 periods or whatever the look back period is. it does give measurement accurate to the look back period
from my trading today i can conclude that i should improve my choice of the forex pair....i found that general direction was alright but the entry was off in some of the pair. i am looking for some reasons why this may be so. I am coming to the conclusion that it is possible that less is more and choosing correctly is the key to a fantastic improvement in trading results,not a great observation i know but may be something to work on personally. however it is not possible to buy the bottom or sell the top so that has to be kept in mind
Thank you for dropping by! i found out just now that all the knowledge you accumulate -and i have accumulated 25 years worth- is worthless unless you can win. you can call it gambling but i have won and am positive for the week as is clear if you have seen the thread.