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/biz/ - Business & Finance

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52340224 No.52340224 [Reply] [Original]

>set up bot
>1x BTC/USDT
>buys whenever 5m RSI touches 30
>sells whenever 5m RSI touches 70

Why doesn't this work?

>> No.52340443

It works, but it may take longer than you're willing to wait. Suppose BTC is at 30k and rsi is 90. It falls to 20k rsi touch 30, it falls to 15k rsi at 1. Then it pumps to 19k and is already at 90.

>> No.52340493

>>52340224
Because the rsi could stay below 30 long enough that when rsi hits 70 the price is actually still lower

>> No.52340568

>>52340493
Yes, that does happen. Not every trade is going to win, but I've looked back for the past year and the winrate is like 90+% with tons if giant trades where you would have made 10-20% in a single trade. It seems like the perfect "set it and forget it" thing.

>> No.52340748
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52340748

>>52340224
because of volatility and strong trends, dumbass