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By continuing to use this site, you accept our use of cookies. Home Support. So now you are sitting thinking man I got all this cash I must be doing something right. Well what about all them shorts losing money and tieing up equity. In order to cover the margin you cant take you money out to spend or your sure to get a margin call. Now what?

Whats the point letting all that money sit so taxes and inflation can eat it up? Even if it dont eat it you got to leave it there to cover the market. You cant take it with you. Just food for thought not picking on you if you want a script to do that go to the expert adviser section of the forums or spend some time on google I am sure you can find something to do that.

Also keep in mind if you are in the USA no broker will let you do it so forget it unless you move your money off shore. Hope the best for you just wanted to throw that out there for you to ponder on and if you know something I dont then please school me. Do you want to buy and sell same pair or two different pairs? If same pair it is like same pair hedging and no point of doing that. If two different pairs once again no point. Because you are trying to do some kind of gambling. Thank all your replies. I just want to try hedging strategy.

I buy and sell at the same time with small orders. As we mentioned earlier, the RSI indicator can give many false or premature signals if used as a standalone tool.

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Even when combining it with other confirming studies, it is necessary to use a stop loss to protect losses on our trade. The optimal place for your stop loss order is beyond a recent swing top or bottom, created at the time of the reversal you are trading.

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Again, this could be an overbought or oversold signal, as well as bullish or bearish RSI divergence. But in the practical sense, it makes sense to take your partial or full profits out earlier using other price action based rules or a trailing stop loss. Let take a look at how a basic RSI trading strategy with the rules we discussed earlier could work. The image shows you a trade entry and exit based solely on signals coming from the Relative Strength Index indicator.

The chart starts with a price decrease which is also confirmed by the bearish direction of the RSI line. Suddenly, the RSI line enters the area, creating an oversold signal. Shortly afterwards, the RSI line starts increasing, while the price action continues its downward movement.

This creates a bullish divergence between the price action and the Relative Strength Index. Your first thought might be that you should open a long trade at the moment when the RSI line breaks the oversold zone upwards. However, during this time, you identify the bullish divergence, meaning that it might be better to wait for two or three bullish candles in a row as the actual entry signal.

You should place a stop loss order right below the bottom created at the moment of the reversal. This is shown with the red horizontal line on the chart. The price action increases afterwards and enters a bullish trend.

The RSI line increases as well. The trade could be held at least until the RSI indicator reaches the 50 mark, at which point you could close a portion of your position. Alternatively, you could decide to use some other price action clues that provide sufficient evidence to close the trade. But absent that, it would be wise to exit the trade in full when RSI reaches the overbought threshold of The red circle on the chart shows the moment when the RSI indicator enters the overbought area, creating a close signal. Using the RSI indicator in isolation will not likely create a profitable trading strategy over the long run.

What it means to buy and sell forex

As with most other leading indicators, the Relative Strength Index can be prone to giving false signals. Therefore, you should incorporate an approach that will allow you to isolate as many false signals as possible, increasing your Win-Loss ratio. In this next section, we will discuss some of the way you can use the RSI tool in combination with price action to increase your chances of a winning trade. You would look to open your trade when you find a RSI signal confirming the direction. However, you will also confirm the price direction with a price action pattern.

This could be a candlestick pattern or a chart pattern, as well as a trend line, channel, ascending or descending tops and bottoms, etc. The stop loss order should be positioned according to the basic RSI rules we discussed above. When you identify the turning point on the chart, you should place your stop above that most recent swing.