Just wanted to post a system i saw Boris Schlossberger was trading. I started backtesting EURUSD in 2010 on the 30M. then moved to 2006, (very little volitility) and i finished with 2012.
Use RSI 14 with levels 70/30
30 M chart
Dont trade asian time
Only London open to NY close
TP = 30
Stop = 50
When RSI close on the 30M above 70 then u buy on that close.
When RSI close on the 30M below 30 then u sell on the close.
Have someone got another angle or maybe tested this appraoch on other pairs?
Here is my results from my backtest performed in forextester.
2006: Return= -42,55% Drawdown 6200. profit factor 0.88
Total trades 170, 102 winners, 68 losses = 60/40
2010: Return= +82,52% Drawdown 2648. profit factor 1.30
Total trades 175, 120 winners, 55 losses = 69/31
2012 until sep.
Return = 4.55%. drawdown 2808. profit factor 1,02
total trades 133, 84 winners, 49 losses = 63/37
Lehmann
RSI 30M
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Stonecold69
- Posts: 1
- Joined: Thu Jan 31, 2013 5:51 pm
Re: RSI 30M
Hi There,
I only just signed up today so hopefully someone may catch this
I watched Boris and Kathy Lien's New Yoprk Traders' Workshop and he elaborated on this system saying that (what you posted) is the 'vanilla version' that non paying folk see but the 'real' system was 1.When Price Closes above 70 wait until it touches 80 and Buy and Crosses below 30 but when it touches 20 sell (Forigve me if the 80 & 20 bit is off although that is what I remember) BUT the absolute main thing was this:
Using that as the main system, the Confirmation was to only trade it when there was a fundemental or technical Momentum move so if a news story broke and it went up through 70 then you would be looking to buy and if the price is just coming off a major support level and the rsi goes through 70 you would be looking to buy etc...
The point being that you shouldn't trade the bare rules - they were meant to go hand in hand with a big move as confirmation that said move is looking like it will continue....
Hope that helps - the workshop is out there in the forums but I shall see if I can find the links...
SC69
I only just signed up today so hopefully someone may catch this
I watched Boris and Kathy Lien's New Yoprk Traders' Workshop and he elaborated on this system saying that (what you posted) is the 'vanilla version' that non paying folk see but the 'real' system was 1.When Price Closes above 70 wait until it touches 80 and Buy and Crosses below 30 but when it touches 20 sell (Forigve me if the 80 & 20 bit is off although that is what I remember) BUT the absolute main thing was this:
Using that as the main system, the Confirmation was to only trade it when there was a fundemental or technical Momentum move so if a news story broke and it went up through 70 then you would be looking to buy and if the price is just coming off a major support level and the rsi goes through 70 you would be looking to buy etc...
The point being that you shouldn't trade the bare rules - they were meant to go hand in hand with a big move as confirmation that said move is looking like it will continue....
Hope that helps - the workshop is out there in the forums but I shall see if I can find the links...
SC69