Tuesday, September 2, 2008

Forex Tips and Strategy

Forex Trading; 30 pips a day in 3.5hrs.

Trading / “ back testing “ about 3 months ago with a new system. It uses Rapid RSI14(it is an awesome indicator, it works far better than regular RSI), 10,20 and 50 SMA, Fibonacci retracements and Extensions.I also take in account the daily pivot -buy above sell below. It is important to enter trades during volatile markets only and avoid trading during big news releases. You go long after Rapid RSI crosses 30 from below and short when it crosses 70 from above , add 10 to 15 pips to make sure it is a real signal. I trade from 4:30 am to 8:00am PST. I don't like spending all day starring at my computer. So far it has been producing 30 to 50+ pips per day. Ill keep you posted on the progress.

--- by; Wizard -----

1 comment:

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