2xBe, glad you're doing home-work.
RSI-5 is a very powerful tool,
I used to think the stoch and macd were my number one indicators. But, I about sh**" when some-one here posted the vto-report. I did not know it existed? So i studied. And what did i find? **Consistancy**.
Absolutely, consistancy is what you want. You can call it a reference point "north star". I have been daytrading for a year 1/2 and have finaly found the missing piece to my system. Nocona has been posting it right under my nose this whole time. daa??
I by no means am a master at RSI-5. But evreything seems to begin and end with rsi-5. So at this stage, I begin my trades with rsi-5 "a known point" and will only move to the next "level" when the RSI-5 play is complete.
There are other factors, self-confidence (very important), consistancy, meeting target,trending market, indicators that fit the trader, ect...
RSI-5 has brought 1.5 years of work, together. I am presently training in symetricals and betting real money. RSI-5 keeps you in the game. Individual issues and symmetricals will make you a mad-man, drive you nuts, line your pockets...and laugh like a fool
