How To Use The RSI Indicator For PERFECT ENTRIES
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- Опубликовано: 9 июн 2024
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How To Use The RSI Indicator For PERFECT ENTRIES
DISCLAIMER: Everything on this RUclips channel, tradertalks, is not financial advice and is purely meant for entertainment purposes only. Nothing I say, do, or show, should be taken as any sort of investment advice for any asset class, I am not a licensed professional. All investments come with a large amount of risk that may not be suitable for all investors, past performance is not indicative of future results.
Affiliate disclaimer: Some of the links provided in this description are affiliate links, meaning that (at no cost to you) I, tradertalks, may earn a commission if you decide to sign up, purchase, or subscribe to one of the linked products. All commissions go to growing the tradertalks community!
Great video, just two things you could have added: 1. wait for the confirmation candle after RSI crosses the line 2. don't trade against the trend...
i totally understand that but i always had this question on which hour mark most people are using to comfirm the candle after RSI crosses the line....
Iv backtested most of the pairs now using rsi, and I find that some respond well against the trend as well with the correct SL and TP
Can some one please help with the recommended deviation to input for RSI ? And SMA EMA's as well. I'm struggle making connections on the charts studies don't line up
Yeah, and he could have gone without extending his horizontal lines 17x as long for his secret entries, as opposed as the 70 and 30 norm
@@zauzydumpling9942 use the 4hr for trend confirmation, use 15 minutes to spot a zone retest or touch and use 5 minutes for your entry
I'm surprised that you didn't discuss bearish and bullish divergences in RSI. These are extremely powerful. I would also suggest that I've found RSI crossing into over bought/sold on the 1 min is a pretty accurate signal for a 1 minute uptrend to continue. I also use the 50/200 emas though to compare the position.
They don't want the rest to know.
@@DonBrowsing trading is funny .. why they always hide information ..like come on guys
very good dear
Man much appreciated . I was wondering how to use that. Perfect video for me. I'm trying my best to get all the information I can right now because I'm tired of doing tree work brother.
The fact that you actually whispered had me laughing 😂had to smash the like button...
As a beginner I appreciate you giving out this knowledge for free thank you so much brother 🙏🏻
Any update bro
As a day trader the amount and consistency of your overall profits depend on your commitment and reflexes.
Trading is too much of a risk.
All trades and investment involves risk Mike.. you have to be willing to learn appropriate patterns, rules, and strategies.
@@nicktony2293 No matter how much preparation went into a trading strategy, what matters is your ability to use a wide variety of strategies in a disciplined manner. You should probably seek guidance for more profitable trades.
Absolutely Noel.. Trading doesn’t have to be complicated
@@nicktony2293 I’ll recommend Dan Raziel, he’s very profitable and reliable. His trades are sure and gives realistic profits on weekly and monthly basis. He manages all risk effectively and predict the market accurately. He’s earned me a trade profit in hundreds of thousand this past months.
when I did more samples on the Rsi and Charts it does blew my mind so thank you so much!! you are so kind sharing this vid and knowledge! genius !!
Really interesting vid. Keep 'em coming!
Set rsi at 74 and 26. “90% of stocks never 👎 move more than 50% over decades” Peter lynch
Whats the reasoning behind this ??
Fantastic! I'll be testing your strategy. Thank you so very much!
Am use RSI when crossover above 50 level we are only look to buy, similary,when RSI crossover below 50 level only look to sell
Thank you for the video, it's really cool and everything little or big we can learn will always or should always make us better traders. Thank You again, very awesome video. :) I was reading below and so many things people wanted you to add in there, and I'm super glad you kept it simple and basic without throwing in all the other stuff. Your mind can only focus for so long lol, especially at my age, so Thanks again for the great video and for holding off on other indicators until your next or previous videos lol. :)
Possibly one of the most useful videos I've ever come across so far! Fantastic job!
9
@@zimaz5136 10
Check out Jeremy cash on RUclips he has a rsi strategy that u would love
Good vid, I RSI with MACD, as the MACD gives a good indication of when price action is actually changing. RSI is like the "get ready for it"
Yeah I like to use the stochastic rsi, when you see it crossing curving up on the weekly, the price is getting ready to go up. Look at your stocks after close on Friday and get ready for Monday. If this week candle higher than last it’s good as gold.
I'm not very good at using the MACD..it always seems to me that it could just as easily go the other way, or the move has happened already, lol
Have tried crossovers, divergence and watching the histogram
Thank you so much this helps me out so much
Where you selling at is that where we would set TP ?
Damn I thought this was gonna be a basic video but I found gold‼️
Bro amazing video! Throw in a 62% retracement and you'll have less drawdown! Mind blown. Thanks brother
Explain?
@vedesh Could you explain that 62% retracement
@@alexy7237 Probably talking about the Fib retracement of 61.8%
Great video thanks for the education other than rsi what other tools are recommended to use with rsi and if you can possibly do those videos as well thanks a new newbie
Hi, great video! How do i determine which time frame to use? I see that you use 1h trading chart.
Idea. Set the 70 to 80 and the 30 to 20 to get better entry points?
Try 74 and 26, it very rarely goes to 80 and 20
Default settings ?
I use 50 and 30
The level is 50. Also, put the STOCH and MACD charts on there, too. Above 50 on STOCH and purple line above orange line on MACD is a buy signal. Opposite for a sell signal.
Hi, on what time pattern is best to read those signals? As they are different
@@aleksc5931 They adjust to the time interval.
Thank you for giving such simple and easy to understand advice! This really helps me as a total beginner!❤
For day trading Set RSI to 6 not 14. Then set overbought to 80 and oversold to 20. To go long, wait for the RSI to get down below 20 on a 5 min. chart and then look for the Crooked "W" divergence and go long.
Thanks...I'm going to back test this weekend!
MAKE this ONE adjustment to your RSI Strategy, and it will be 90+% accurate: WAIT until AFTER the over bought (or oversold) CROSSES BACK below 60 and above 40. For the overbought, wait for the first RED candle you see after the CROSS BACK, and for OVERSOLD, WAIT until the first green candle AFTER the CROSS BACK up. AND, remember, to set your RSI to 60/40. You will get 3-5 x MORE PIPS this way.
Pls can you explain this better sir?
I'm going to give this a try 👍
Interesting
Are you using this on a 1, 5, 15 min timeframe?
For anyone to answer. So when the RSI begins to break above or below, the odds of it continuing are relatively good?
Honestly it’s best for you to backtest and see what works best for you on your preferred time frame/ your system
Can you set to minute charts or does it have to be 1hr ?
hi.. good day.. can i ask what trading app are u using? thanx
RSI Overbought/oversold just like stocastic it only works for ranging market/ sideway. However RSI can give leading indicator for market to change direction.
you are right bro...also entry requires a confirmation candle and not to trade against the trend...
also, no mentioning of stop loss...25pips drawdown will bust the trade
I wish I’d see this last year! But it’s now “this” year so no looking back .
A very quality video....I really enjoyed the tutorial keep it up brotherman
what time frame am i gonna use tho? is it the 4 hours? a day or per hour
Great treak! Thank you so much. Yes, I did notice something "suspicious" happened when RSI was next to 50%. I didn't know that a trend change was to ocurre after crossing the 50%. Besides, the other treak to wait for the RSI to go back from the Over zone was to improve the trading, is liquid gold man.
Wow thank you so much for this amazing tutorial ! The best I've ever watched so far
You're talking straight forward to the point , thanks for the video and very appreciated !!!
can we use it on a 10 min/ 5 min time frame?
To invest for the long term, not only do you have to look at a certain indicators, but you also have to remain focused on your long-term goals, be disciplined and understand your overall investment. There are several strategies to increase your chances of finding a great investment.
- Focus on the fundamentals.
- Examine the P/E Ratio
- Avoid value traps
- Dividend consistency
- Analyze Economic indicators.
Picking stocks is both an art and a science, and even the best-looking bets can fail to pay off.
Good rundown! it seems you are a pro. How long have you been trading?
@@fuseoff7377 I've been trading for 3 years now. I had a rough start though but all thanks to my Expert Trader 'Mr Carlos Beckham' he really helped me get the most out of the market.
I just received a ROI of $112k thanks to him.
@@ivanwalter596 Do you mind sharing his info?
@@ivanwalter596 I just recently started trading with him. His strategies are amazing , I'm getting more experienced in stock market trading. He has thought me a lot these past months after trading so closely with his strategy and analysis which proves helpful, I saw my winning ratio increasing everyday as my trading improved as well.
@@sophiaadam9966 Sure, you can contact him via wha tsa pp
Ran last weeks earnings list with RSI2. Several prospects there. And looking back down the line on the RSI display, it's easy to see how and where to work this. Small breakouts confirmed by candles and volume. Set my stop loss and let 'er roll! Looking forward to working the FIRE out of this. - cp
Good information, qualitative video. You just won yourself a new sub.
Thanks so much ! This was super helpful!
woah! that did indeed blow my mind , thank you
It's been two months. How's your results?
RSI indicator is the real deal. My trading account manager uses this perfect. Fx is just sweet.
You are right the market is profiting if you are using really a good broker or account manager or professional trader to help out with trades or provide signals.
@Isabella Mia I'll recommend Expert mrs mabel to you. She's the best ive seen. She trades my fx account and makes me good profits 📈 weekly
@@smithhall9597 Wow you really know expert Mabel...? I'm a living testimony of expert Mabel, she has been trading for me for months now
She trades for me too. My first investment with Mrs Mabel gave me profit over $25,000 and ever since then I trade with her and it has been a good turnups
@Isabella Mia She is available on Whatsapp and telegram respectively 👇
I wondered if there was a way to adjust for the lag. Can't wait to try it out. New subscriber.
With this method, should we look at the 1 day chart or it doesn't really matter?
Im only seeing this now and I am really blown away as a beginner. Thank you so much for this RSI strategy
Works great in a sideways market, but will fail you everytime in a trending market!
True How do we know when the market is sideways?
@@bestsplitscreengames With great difficulty, but it's when a market is staying within a set range for a long period of time. The difficulty is that often markets do not trend sideways for that long and by the time you have identified this it could start trending again. My advise would be to not trade it and stick to strongly trending markets only. In a sideways market its easy to make gains by being short and then long but most of the time you will lose all you have gained when the market starts trending and you get caught in your position
@@techmoney5829 totally agree
@@bestsplitscreengames moving average gives you a good indication on a 4 hour time time frame
Thank you so much !! you explain very well :)
This is the best video on RSI I have ever seen!
Used this strategy on six small position trades today just to test it out. Green on five broke even on the other. I’m going to do a few more small portion trades to ensure I execute them well then I’m going to scale it up. Thanks.
How's the strategy going now bro?
Im going to code a script and test it out
Stocks overall are an excellent way to gain wealth over the long term. If you can weather the downturns.
True Frederick, Investing in the stock market is lucrative but can be a tricky game, and if not careful, one may make some grave investment mistakes that could cost a lot of money.
Expertise contribute to an easy flow of both information and skill simultaneously.
@@goergegilbert8926 A mentor would be amazing, but getting one is easier said than done. If it's not too much to ask, do you know any legit ones?
I have been trading as a newbie and blowing my account for months now,how do I get a professional broker?
The importance of a good contract traders cannot be over emphasis obviously beginners will be lost with these patterns working with an advance trader definitely take you far in trading .
what brokerage platform do u use?
very informative. imma see what else you got and will probably subscribe as well
Hi, Sir can this technique use in 5 min or 15 min charts?
Gosh this is simply amazing! Thank you for sharing! I was looking for knowlage about forex on youtube and can tell you that your content is one of intelligible and smart-simple! Wish you all success! For sure I will be still watching your video and maybe one day join to academy! Wow just wow.
@zlkr
When using MACD what’s the best setting ?
I love this video. Eye opener , thanks bro
Yoo I did not know about this and I was losing but now I've seen this video I started to win a lot. THANK YOU FOR SHOWING THE SECRET. THANKS BRO
Yeah, this is how I learned to use all overbought/oversold indicators; rsi, williams %, stochastics, whatever but with 80/20 and look to get out at the 50. Always use it in context of the trend; only get long in uptrends, and short in down trends.
Does the 50 on the RSI? Still produce good profits!?
Excellent Video. Definitely subscribing and adding this to my strategy
Thanks that's exactly what happened to me today was looking at those extreme levels and trade went in opposition direction lucky it was demo only!
Apparently RSI is not enough of an indicator. Use RSI, Stochastic, and MACD, then you will have 3 indicators to confirm an entry and exit
Lol
You are absolutely right
@@lordsothis why lol
@@cryptocartel1301 cause that's some funny as$ sh*t... But hey it's part of learning I guess...
@@lordsothis so is this wrong ,I’m not being funny ,I’m new I’m just learning
exactly unique tip after i searched alot , liked and subscribed
What program do you recommend for this strategy? TradingView? I've experimented with a few different programs but they're all out of sync so I'm wondering which program you'd recommend for best results. Thanks! Keep up the great videos!
Simply just wait for the confirmation when the rsi goes out of the over bought/sold zone.
bingo
This is truly a secret!!! Thank You so much!!!
Amazing video! I feel like I was just given the key to the universe. Thanks for sharing! Subbed and thumbs upped!
This is great! Way more informative than tons of videos I watch for rsi. Thank you
dude keep it simlple buy once rsi crosses 50 and sell at the resistance
Should it be when it crosses 30?
Why not just find a trend and use the RSI to get entry on the trend
lmao prophetmarket channel explains this way better on just 4mins
I find that for intraday forex trend trading most important relevant (Guide)trend direction is ON 15 minute, 1h and 4h charts only-- For intraday trading weekly & monthly trends do not matter much(too far removed from intraday field of activity) & can be ignored. For simplicity sake if 15 minute ,1h & 4h trends are in the same direction, you have a trade set up in the same direction (one could fine tune entry 0n 5 minute charts). In general if daily candle be in the same direction for any trade it is better but not A must.--Sir, what do you have to say?Any modifications?
Just joined the discord, you seem so much more authentic than alot of people I've seen on YT, actually inspires me to invest the time into learning and fully understanding pattern trading (dabbled for the past 6 years)
I love this strategy
That was good... I'm just learning hope it works for me...main thing is get in at a good position to make a profit and get out on the turn around
What time Frame is best for day trader? and what time Frame are you on this chart?
Great and clear explanations. Does it work for any timeframe?
Makes common sense as it gives you more certainty and reduces the risk of losing out. Thanka for your time.
Awesome this is the second time I’ve watched
Fire method!!! I love RSI trading.
Was extremely helpful thank you very much
You just make me $500 today. I've been using the RSI wrong for years. Truthfully, I stopped using it.
Thank you
i bet you have lost the $500
@@Anthonyij
I did yesterday
Seth Walker Lol 😂
@@sbw89 when you make money, honor God by withdrawing some. I think its greedy to put back everything you just gained. You should take something out. It's part of discipline
@@ngreat4390
I trade in an IRA account. So I do not cash out (so far at least). I use standard deviations (1st, 2nd and 3rd) and the RSI for entries and exits. Pretty accurate....
bro, that was amazing
I'm new to this and you gave a great explanation. Thank you.
you can apply a MACD to filter out the false signals from the RSI
U NAILED IT SIR, downside of this trick is the Consilidation or side ways market and trading along Resistance Zone 👍
Very nice. However, as a trader who loses money each and every day trading Forex, i was cringing when you kept saying you were going to close the trade, but kept talking. You lost about 90 bucks. But, you were very kind to keep helping us.
Does anybody know how he clicks and highlights at 6:23 to delete his drawings?
My tradingview just grabs at the screen and drags it when I try to do that. Please help
Very Good! Thanks Corey!
Terimakasih yaa contect nyaa 😍😍
lmao yoo why didn't you just wait for divergences to play out?? 2 to 3 push UP or DOWN then your stop loss would have been 5 to 15 pips max {1 to 3 radio or 1 to 5 ratio every time }
Thanks MAN. This is awesome
To be frank with you bro, I personally don't support this because the RSI can cross the 30, 70 and come back soo many times and been stop out, unless you have any other confirmations you look up to bro...even if not, you can't rely on only this bro...Good work
I set mine to 20 and 80 for less false signals.
I've been trading for many years and have never heard that "as soon" as price reaches 70 (sell), 30 (buy); to be the rule. The info is, to be "aware" at 70 price is overbought and at 30 price is oversold, but it doesn't mean you react immediately. Also, you never use RSI by itself, its always used in conjunction with other Indicators. Price can linger overbought/oversold for an extended period of time, and anyone who has been trading for a good period of time would realize this to be true. My opinion, there's no need for a secret third aspect to this rule. Frankly for me, I never use this Indicator. To me it's basically useless but of course to each his own.
I use RSI sometimes ...and not for entry-point-decisions
Nice video , I just discovered that bitcoin trading is now one of the fastest way to make money online...it's really a life changer
Bitcoin trading is really a life changer, I couldn't believe it could be so profiting urge.
You're right sir, Thanks for introducing me to Mr Harvey
I like turtles.
2 questions are you using the rsi strategy for the one hour or 4 hour and the same question for the 50 level ?
What setting should the RSI length be?
Awesome !! Thanks for sharing. yeah you have learned how to delete all drawings at once :P
To save you guys some time basically you wait for the RSI to move out of the 30 range for a bit and then buy. Your welcome.
Thanks. How to use tha macd
What time frame are u using
....faaauuucckk! that blew me socks orrf! Much obliged to you sir 😲😱🤯👍