You are Using the RSI Indicator WRONG! (RSI Trading Strategy Secrets REVEALED)
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- Опубликовано: 18 май 2024
- Many new traders use the Relative Strength Index (RSI) to determine overbought or oversold levels. This is wrong as RSI is a momentum indicator. In fact, using it on its own as a trading strategy is not going to help you maximize your profits. This video will help you understand exactly how to use the RSI indicator effectively.
00:00 How you are using RSI incorrectly
00:40 What is the Relative Strength Index (RSI)
01:18 Biggest Mistake When Using RSI
02:59 What is Regular (Classic) Divergence
05:25 Strategy to Trade Classic (Regular) Divergence
09:09 What is Hidden Divergence on the RSI
13:49 Tip #1 - Change the Source for More Accurate Readings
14:59 Tip #2 - How To Remove the Overbought and Oversold Settings
16:19 Divergence Tool on TradingView to Help Spot Divergences
#technicalanalysis #rsiindicator #rsirtradingstrategy #cryptotradingstrategies #daytrading #forextrading #bybit
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look at it this way, while some folks are waiting to make minimal profits when stocks recover, some others folks already know where to look and what to do to make hefty gains in these times, so yea, it all boils down to knowledge to risk mltigation.
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I would recommend you learn one simple strategy that works for you. Backtest . Do not let the media distract you with other indicators if one strategy works for you. If it isn’t broken why fix it. Unless you searching for the one that fits your style. On that you like.
- Utilize risk management. Put your savings in a trading account and start making another stream of income there. But risk management most importantly should be your main concern to master since you would have a nice amount of capital the market could try and eat away at… if you do not pick up trading as a scholar then don’t even put that money in there. Better off buying meta stocks or Uranium even more better off to use that capital to start a business so you can get more returns on taxes with the LLC
Dude, I watched the market for hours yesterday just to confirm this whole video and i was mind blown by how simple it was..
This is awesome Allen thanks for confirmation 👍💯
I want to learn before I burn money.
Bro if you have, position sizing (money management ),trade management......without this you going to loss lots....money
Good..... but the problem with this strategy is you never know which is liquidity raid and BOS if we identify currently then its is best strategyGood..... but the problem with this strategy is you never know which is liquidity raid and BOS if we identify currently then its is best strategy
What pairs where you using! because have watch several RUclips tutorial videos about trading I am still making losses
Great stuff. I watch several youtube videos on how to trade in the market but haven't made any headstart because they are either talking some gibberish or sharing their story of how they made it and I do not want to make mistakes by taking risks in my own hands
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I came here to get an idea of how to trade utilizing A.I trading bots after hearing a guy on a podcast talk about the importance of A.I bots in trading and how he made $360,000 in 6 months from $50,000. This video has helped to clarify a few things for me, but I'm still puzzled, I'm a rookie, and I'm open to suggestions.
Investing in stocks is a good idea, a good trading system would allow you to spend many successful days.
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Every time the RSI in your example peaked, price action went back down. Which happens almost all the time. I'm still gonna use it the way you said not to. It's just as reliable as any other strategy
I cannot thank you enough for the specified details. Truly helpful.
Very well explained. I watched pretty much all rsi videos on RUclips and you're the only one to mention all the secrets in one video. Thank you
This might be the best lesson on how to actually use the RSI that I've seen all year.
Thank you sir for sharing such great knowledge. I was using RSI with defaults and making assumptions on my own..
I’m new in this world your videos are diamonds in the dirt.
Complete, clear, helpfull.
We need more videos pls!
This is the best video ever watched on RSI. Divergence made simple so grateful
You need more people following you. Count me in, this information is amazing. Keep it up brother, you're greatly appreciated.
Don't stop learning new things on this channel... Just the best place for every guy who wants to be a trader
This is quite possibly the clearest and best explanation of Classic RSI Divergence and Hidden RSI Divergence I have seen. Thank you so much!
Glad it was helpful!
take some adderall. thats all it takes. just make sure you spend the time trading and not jacking off to porn for 8hrs. edging the entire time finding the perfect video to bust. sure after hrs of edging. its gonna feel amazing when you bust... but the Adderall is for making money not busting loads." - Warren Buffett
@@bybitlearnofficial It's always nice to listen to an expert who makes money by recommending a broker rather than trading himself 🙂
@@bybitlearnofficialWhat's name of expert speaker
Great explanation, the best of all I have seen until now. Thank you verte much.
Your discussion was very important for learning. I learned a lot of things that I didn't know before. It will definitely improve my trading strategy. Thank you very much.
Absolutely perfect video. Thank you so much!!
Great job. Clear messaging and a very important indicator that small investors will hopefully start using correctly.
Thank you for this video. Other than over bought or over sold at the extremes, I never fully grasped RSI. This cleared things up tremendously!
Well done, buddy! Great video lesson for every beginner trader👓
Best video on RSI I've seen (and I've watched a bunch). Thx.
A lot of thanks. Frankly speaking, I am not good at English. But I tried to watch the video and well understand the content. It's of great value to me.
Great Video man, one question, is this method valid for smaller caps where there may be less hedge funds, banks, big finance companies, etc? I am not doing well, all my trades slaps me in the face.
Lol, slaps you in the face haha that's funny, Your problem could be that your stop loss is way too close or you're watching your trades too much. Place it and walk away. Or you could just give up, trading isn't for everyone.
Honestly I liked this comment because it made me laugh 😂but seriously in the end it comes down to experience, you can keep trying different things until you find the one that works or you can find someone to guide you.
What TF do you like to trade? Some guys love the 5 min while others think it's too unpredictable and prefer 4 hr or Daily. Whatever. So if it's the 1 hr. then you need to know what the next TF above it is doing (trending up or down in the near future: very important). Now draw a diagonal trend line...don't ask, figure it out, it's simple. Next, is it overbought or oversold? This is directly related to the trend line. This is when you buy or sell and the simplified version of what you need to work on asap or you're done.
What you need is enlightenment, read more books on the subject, Have you tried Bitcoin trading? Trading with the right strategy for example is all you need trust me.
@@donald.jacoby.94 How good is your Bitcoin trading strategy?
Very good and clear expleination. You can be a very good teacher
Excellent stuff, my friend. You've just convinced me to dim the overbought/oversold lines. I'm still not confident enough to turn them off completely haha. It's like a security blanket.
Powerful knowledge 💥🎯thank you so much 🙏👍
Really helpful, thanks
,
,
Best video on RSI, Thanks for the knowledge
this info about trading is literally lifesaving!I hope many people changed their lives after it
For salary earners having a passive source of income is the best thing you could have , because aside the the fact that it isn’t always enough you could lose your job any day at any time , have something to fall back to is crucial , for me it is trading the Forex and Crypto market and no I didn’t have that much knowledge to begin to earn that’s why I said passive income, I leave the profit making to the pro like my Advisor ' *Nolan Velden Brent* who has been doing a wonderful job.
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I subscribed for a few trading courses but it didn't help much, been getting suggestions to use a proper financial advisor, how did you go about touching base with your adviser
Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $485k in just the past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser-known markets. It is safe to say that this bold decision has been one of the most impactful choices I have made recently.
I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging. who’s the person guiding you?
Wow, that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio.
Foi uma ótima aula professor 🤝
Beautiful Value Added Video on RSI, Thanks a million
Love the soldier-general narrative
Amazing explanation, bro. Ty
Great video. I learned a lot.
Good job!! I've been using divergence since 1994!
bro nice job thx for the video i didnt see anyone to explain like you. the only confusing thing is i didnt get the point of why did you set the source as ohlc4 instead of close. i think the default one is the better.
Thats pretty good. I will make some new studies about it. Thanks!
Thank you its valuable addition to knowledge in much simple way
Glad to help!
Subscribed - excellent video, keep it up
Thanks, you are appreciated!
Nice! I like it how you explain it 👌
thankyou for sharing it is very useful i am still learning in the Nusantara fx commmunity class
Thank you, insightful!
thanks for this, a very very very good explanation
This vid take my trading strategies to new level. Thanks for sharing🎉🎉🎉🎉🎉🎉🎉🎉🎉
Fantastic!
Great topic, thanks 👍
This is great expo!
More of this!!
We do have more videos planned. Thank you for joining.
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All you need as a beginner to make good profit from cryptocurrency is a professional trader who will trade on your behalf else you may make losses.
@lite john How can someone know a professional trader that is trustworthy when legit ones are hard to find this days.
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Thank you very much for your video!
Amezing explanation ❤
Great video. Thanks!
Great video is there a particular time frame that is preferred for divergence trading?
This is such an amazing insight to RSI - thank you so much for the time you have put into making this... I would like to ask if Im reviwing a 5 min chart and find a divergence would I then go to the 1 min chart to execute the trade as an advantage or to the 15 min chart for an advantage?
Yea, try the 2 min as well on it
depending on the market conditions.
RSI can be the best indicator
it can also be one of the worst as it can get stuck in over bought or oversold positions while the trend continues.
i like the concept of trade it when it comes back out of this area. It can still be dangerous.
With a strong uptrend. a pullback could trigger this exact situation and you get in just as it's ending.
Other confirmation is needed.
Personally i use the RSI on an over 50, under 50 mentality. and direction of RSI matters.
So if it's over 50 i'm leaning buy. but i don't want to see it coming down if i have a buy bias. i am looking for the reversal back on trend.
I also have it set to 24
Of note. i also set the MACD to 20 and 50. Those who know about trading will understand the importance of this particular X.
@@slowboycapital I have no idicators on my chart now. Just a few MAs. Volume.
This keep it simple approach has me batting over 90%.
@MPlain do you run a discord?
Excellent Explanation of Divergence! I also use this technique. ✌😎
Excellent! Feel free to share how you use it and on what time frames for the community.
Amazing explanation... 🎉🎉🎉❤❤
Thank you sir very good knowledge of RSI .God bless you
Fascinating but I'm having trouble finding some examples of this on my own.
Thank you great video
thanks for sharing, I'm a beginner who joined the nfc community.
Thank you very much for the best explanation ever
You are welcome....glad you liked it!
Wonderful, thanks Sir
Every beginner needs to be your sub. It helps a lot in this business)
Clear explanation! Thank you.
Already subscribed 🙂
Glad it was helpful!
This tricks with MACD really impressive! I didn't know about it😃
brilliant. thank you
I really appreciate the dedication in each video you post. Despite the dip in crypto, I still thank you for the level-headed financial advice. I started crypto and forex investment with $4,345 and since following you for few weeks now, I’ve gotten $18,539 in my portfolio. Thanks so much Mrs Katherine Flores
wow.. amazing to see others who trade with Mrs Katherine Flores, i'm currently on my 5th trade with her and my portfolio has grown tremendously.
I invest with Mrs Katherine Flores too, she charges a 20%commission on profit made after every trading session which is fair compare to the effort she put in to make huge profits.
With the consistent weekly profits I'm getting investing with Mrs Flores, there's no doubt she is the most reliable in the market. such a genius
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Amazing I also just started trading with her, she is the best at what she does with an initial investment of$1400 i made up to $5230 in just a week of trading with her. her strategies are mind blowing.
Tqs For Your Secret Strategy 👍
Wao... very informative.... thank you Boss
Amazing explanation
Just fantastic 🎉
Não conhecia estes detalhes do indicador. Muito bom e vou procurar no profit
YES i do agree the best explanation i have seen you are good
Thank you for the kind words.
Great video on RSI, thank you
Thank you, glad you enjoyed it!
Excellent video
Thank you so much.
@bybit so in short in classic divergence over is price action and RSI in opposite direction so i.e. if price is going down on the chart, I would expect RSI line to go up which shows a potential reversal. I can use higher highs for bullish to place a sell and higher lows for looking at placing a buy as the key indicator for this bit?
now hidden divergence shows a continuation of trend so when we look at hidden divergence we want to see the RSI to meet a new high low the 70 or 30 range, this can indicate a continuation fo a trend. I do like the divergence indicator you showed and the idea of trend line
The one thing I have found rigorously
backtesting RSI Divergence strategies with currency pairs, Crypto, Stock index futures, forex futures, metal futures, and energy futures …etc. You never know when the divergence is done. Hindsight is great, but put it on bar replay mode and tell me when you think it’s done? Plus false divergences occur 5-8 times per trend. This typically indicates pullbacks that could possibly be a counter trend trade, but many many fail completely. Also, real reversals may not show any divergence. Then it will give you false divergence in the opposite direction, because a new trend has begun.
very very useful thank you very much..
Hi,. Were you using Trading view or bybit platform in this video ? Thank you !
Thank you bro
Thank you so much
Great education..if you look at HON today I can see the RSI divergence..Higher Low
Thanks for making me take a nap watching your video.
Thanks you for these informations sir
Great job. Spot on information
Glad you enjoyed it
It's good to mention what software you are using because MT4 doesn't have this bands you are talking about or the background, I have only the levels and the period
hi,good work,thanks.
THANKS BRO
I love your trading ideas
It's has been so difficult for me trading on my own because i have had much losses.Think the real market is manipulated, please can anyone help me out or tell me what I'm doing wrong.
Trading with an expert is the best strategy for newbies and busy investors who have little or no time to monitor their trade.. I will advise you should stop trading on your own it's very risky, seek advice of a professional trader.
I’ll recommend Expert mrs Kathleen Susan to you. She’s the best I’ve seen. She trades my fx account and makes me good profits 📈 weekly.
She trades for me too. My first investment with mrs Kathleen gave me profit over $25,576 and ever since then I trade with her and it has been a good turn up
Since i started investing money on crypto currency under Mrs Kathleen's management i invested $5000 and profits is $19,700 every 11 days and i never lost my money on crypto.
Mam Kathleen made a transformations from my investment of $4000 to $12,400 in Just 2 weeks, I'm so excited 😊😊
Best explanation it help me a lot thank you
Glad to hear you found it useful!
Great explanation, could you tell me how to setup alerts with the divergence strategy on tradingview ?
You have a couple of options. One option would be to set up based on RSI divergence and that might require a custom indicator. Then, you'd have to wait or set up another set of alerts for price action to trigger a breakout.
Great video
send my love vibes to Michaelthanks for all your work🎄
this was very helpful
great to hear...thx!
Great knowledge Sir about the RSI indicator....please please circulate on deeply secrets on RSI divergence all types
Well, you're looking at 4 different types of RSI divergence:
*Bullish Classic
*Bearish Classic
*Bullish Hidden
*Bearish Hidden
They were described in the video.