Between all forex indicators, learn how I use the RSI in my forex systemI use RSI in my forex trading system. RSI is very useful among all forex indicators. It helps me to confirm the Big Trend. Some informations about RSI: The RSI means Relative Strength Index, which is created by Mr. Welles Wilder in 1978.RSI = 100 - 100/(1+RS). To know about calculations you can have more informations on wikipedia. How I use RSI in my system forex ? See, it is very simple: - If RSI > 50, that means the Forex trading market stays Up even if there down candlesticks. - If RSI < 50, that means the ForX market stays Down even if there are up candlesticks.
When you see on your forex chart a Up Big Trend and RSI > 50, you can wait a long signal. When you see on your forex chart a Down Big Trend and RSI < 50, you can wait a short signal. My forex trading system is simple but you have to study it seriously if you want to understand all the details. Some currency trading adepts use RSI differently. They go Long when RSI cross Up the 50 line and go Short when RSI cross down the 50 line. I don't use RSI like that but you can try this other technique. Remember: Big Trend is Up, and RSI > 50 ===> Wait a Long signal Big Trend is Down, and RSI < 50 ===> Wait a Short signal
Domino, I love currency trading !!! Go to the forex indicators Up page Go to the free forex system page to read the lesson #3 |
