hi,
I have been trading on this system for the past month or so ...
The rules were very simple enter long when RSI is below 25 and short when RSI is above 75...
With a few additions like modified martingale and tweaks this worked like a charm and I made over 1000 dollars from just a 200 dollar account.
Here check my trading record...
http://img146.imageshack.us/img146/9...dstatement.gif
But the past 7-10 days have been a bizzarre experience. Not only did i lose all what I earned but the system abruptly stopped working.
This is owing to the extremes to which RSI is going these days.
I traded E/U G/U U/J A/U U/Cad U/Chf using this strategy...
This is the same strategy as Eur/gbp king method.
Now there are a few questions on my mind.
1) is the method a complete failure and does this happen throughout the year or is this just for this month (since its ending of the financial year)
2) Is this something related to low volatility in general because i see the average volatility for all pairs dropped (in fx options platform and in VIX )
The normal phenomenon of bouncing to some pips on going to extremes of RSI is just not working anymore.
Price seems to happily go lower even when RSI is something like 12 ..
I have entered at RSI values like 15 and 86 and still i had to barely breakeven after a struggle ...
Can some of the experienced traders out here help me with this thing !!!
I have been trading on this system for the past month or so ...
The rules were very simple enter long when RSI is below 25 and short when RSI is above 75...
With a few additions like modified martingale and tweaks this worked like a charm and I made over 1000 dollars from just a 200 dollar account.
Here check my trading record...
http://img146.imageshack.us/img146/9...dstatement.gif
But the past 7-10 days have been a bizzarre experience. Not only did i lose all what I earned but the system abruptly stopped working.
This is owing to the extremes to which RSI is going these days.
I traded E/U G/U U/J A/U U/Cad U/Chf using this strategy...
This is the same strategy as Eur/gbp king method.
Now there are a few questions on my mind.
1) is the method a complete failure and does this happen throughout the year or is this just for this month (since its ending of the financial year)
2) Is this something related to low volatility in general because i see the average volatility for all pairs dropped (in fx options platform and in VIX )
The normal phenomenon of bouncing to some pips on going to extremes of RSI is just not working anymore.
Price seems to happily go lower even when RSI is something like 12 ..
I have entered at RSI values like 15 and 86 and still i had to barely breakeven after a struggle ...
Can some of the experienced traders out here help me with this thing !!!