Have you ever wondered what is it that makes the Forex trading signal profitable? If it is able to make pips, it’s likely to have a very low drawdown. Also, it happens often so you are sure that it will be successful more than it does. This is the definition of the success of an Forex signal.
It took me nearly three years to discover this data. I came across it in the book of Constance Brown known as a well-known author of trading. In her book, she mentioned that Andrew Cardwell, THE expert on RSI (the Relative Strength Index) was among her close friends. He could go on for hours about the intricacies of RSI she claimed. That was enough for me to be intrigued.
Three years later, I’ve uncovered many details about RSI that’s not included in any of the books , or available on the Internet. This includes my ebook as well as my website and articles I created for Articles. Here’s a tiny sample of what I have learned.
It’s not widely known that reverses can happen.
Cardwell was a student of Welles Wilder, who created the RSI and discovered reversals as an indicator for trading. Welles Wilder went on to other endeavors, however Cardwell stuck with RSI and came across Reversals.
Divergences cannot be achieved with reverses
Divergences are usually associated associatecrypto.co.uk with trading RSI. But, divergences on RSI indicate that the trend is slowing and may reverse. Reversals are a sign that the momentum signal is doing something that is more effective.
The possibility of trend continuation exists when the trend reverses
Reversals on RSI indicate that the price is preparing to move on to the next trend. Trading with the trend is more successful since momentum is more powerful when trading, compared to. Reversals indicate that momentum is changing towards the direction of the trend is heading, and can be seen in every currency pair at any moment.
Reversals read momentum
RSI trading is the act of trading that is based on momentum. Four RSI Trading Signals reveal market momentum. No matter if the signal is positive or negative, there can be no trading if there is no momentum is present.
The most well-known trading secret is the RSI reverse. Reversals are easily identified by traders using the RSI Paint Indicator. The indicator automatically detects them and can help you identify profitable trades.
Paul Dean, the founder of You Learn Forex, has been trading Forex for more than five years. In the past three years, he’s been working on a lot with RSI (the Relative Strength Index) and gaining new knowledge together with David Moser, a trader/programmer. The study revealed significant statistics about RSI that can be utilized to help make better decisions when trading.
The information is available in his book, RSI Foundations: Beginning to Advance. It has 195 pages as well as more than 100 color charts. The eBook is part of a statically built Forex trading platform called The RSI PRO Forex Trading System. The system utilizes four signals from RSI to trade.
He also created a well-known indicator called the RSI Paint Indicator. The indicator was developed from a traditional RSI and warns traders of the four RSI signals. [http://www.youlearnforex.com]. Download a no-cost eBook on the RSI PRO Forex trading system as well as 4 RSI trading signals from the site.