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3 Rsi Trading Facts You Should Know

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I recently read that the most popular indicator by traders that use the Bloomberg Professional Terminal is the RSI (Relative Strength Index).

This is the first time that I’ve been aware of an objective measure of the popularity of any trading indicator.

This is much better than the usual “most traders use X” or “Hedge Funds use X” you read when people are talking about trading indicators.

I will repeat what I have said in many trading posts…..an indicator just indicates and you must also be tuned into price action and price structure.

If an indicator indicates a buy but long term resistance is directly overhead, a winning trade is not the higher probability result unless there is strength on the break.

Netpicks designs all of its trading systems with an eye towards keeping the big picture as well as the chart story in mind. Anybody who attempts to sell you a trading system where you just plug and play ignores the “indicators just indicate” truth.

http://www.netpicks.com/rsi-trading-facts/ - Read more

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