[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 56 KB, 403x448, rsi.png [View same] [iqdb] [saucenao] [google]
8579457 No.8579457 [Reply] [Original]

Is there any another TA more worthless than RSI?
> Buy when its undersold, it keeps dipping.
> Sell when its overbought, moves sideways for 3 hours and then shoots up again.

You cant make any money trading with it. It tells you nothing about whats going to happen.

>> No.8579469

I almost opened a short at 7900 today, but didn't because the RSI was so low. 5 minutes later there was a big bump and I got my short in at 8200.


Maybe you just suck?

>> No.8579495

>>8579469
RSI dropping is indepedent of the fact that the RSI is already low.

Its literally like betting everything on RED because the last 7 spins were all BLACK

>> No.8579498

use rsi for support and resistance

>> No.8579532

kek TA... Like tea leaf reading but twice as gay.

>> No.8579988

>>8579457

I have found the only actual useful indicators are volume based like VWAP or volume profile.

>> No.8580004

>>8579457
>It tells you nothing about whats going to happen.

That's the real problem of TA. It's all reporting past data.

>> No.8580047

>>8579457
You have to use RSI in conjunction with other indicators. If you trade only RSI, then I'm afraid your image is very befitting.

You can draw trend lines and supports on RSI. It's good to know when they break as it usually signals a big move.

Also food for thought. Babypips ran a multi year experiment with indicators. I believe Bollinger Bands, RSI, MACD, Ichimoku. and Stoch were used. RSI returned a negative 3% and the others hovered between -2% and +3%. Ichimoku however had a 30% ROI over 5 years. Craziness. Consider looking into it and learning how to use it.

>> No.8580065

protip: trade only when the rsi breaks the lines, not when its under it

cya