RSI The complete guide PDF- This book will attempt to convey the information that a trader would want or need to know about the Relative Strength Index. There is a considerable body of information that has been gathered concering the RSI since 1 978 when Mr. Wilder promoted this indicator in his groundbreaking book.
Author: John Hayden
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The Relative Strength Index (RSI) is one of the most popular momentum oscillators used by traders. It is so popular that every charting sofware package and professional trading system anywhere in the world has it as one of its rimary indicators. Not only is this indicator included in every charting package, but it is not out of the realm of possibility that every system has identical original default settings.
There are many reasons that the Relative Strength Index quickly became so popular with traders. When hand plotted in conjunction with a daily bar chart, it provided interpretative information on market tops and bottoms, chart formations, market reversals, areas of support/resistance, and price/indicator divergence. All of this information
was rolled into one easy to calculate formula, so what was not to like? At this time, enter the personal computer bringing with it the ability to manipulate numbers in te blink of an eye. The personal computer has made the process of decision-making so easy with instant real-time charts and indicator overlays that most traders simply do not know
where to begin.
It is so simple to jump into trading using the preset system default values that novice traders ofen begin trading without testing different parameters or educating themselves on the proper interpretation of an indicator because of the desire to make money quickly! As a result, the RSI is also one of the most widely misused technical indicators!
RSI The complete guide PDF will attempt to convey the information that a trader would want or need to know about the Relative Strength Index. There is a considerable body of information that has been gathered concering the RSI since 1 978 when Mr. Wilder promoted this indicator in his groundbreaking book. While it is impossible to discuss all of
the knowledge that is available on the subject of the RSI, when you have fnished studying this short book you will know how to use it to determine:
1 . The current trend.
2. The best entry/exit prices for a trade.
3. Price levels where contra-trend market retracement will likely end.
4. Basic Price Retracement Theory and Momentum Discrepancy Reversal Points.
5. What is meant by the term “timefame”.
6. How to determine the dominant market “timefame”.
7. When a different “timefame” is negating or overpowering the present timefame.
8. How to determine upside or downside price objectives that have high probability of being reached.
This book is divided into two sections. In Section I, the focus is on developing the basic knowledge of the Relative Strength Index that is necessary to use with the advanced concepts. Without a thorough understanding of the basic concepts that are involved, the trader will have neither the courage nor confdence to consistently take action when the price action conveys a valuable clue.
Section II focuses on integrating the basic knowledge of price behavior, retracement theory and various timefames with RSI theory. Also in Section II, we will lear how to enter and exit trades more profitably.
Table of Contents- RSI The complete guide PDF
Section I – Preparation and Understanding – The Key to Success!
2. RSI Math
3. Price Behavior
4. The Real NatUre of The Market place
5. Price Behavior & The RSI
6. Basic Retracement Theory
7. Summary Section I
Section II – Using the RSI to Tade!
1. Conventional RSI Use 45
2. Professional RSI Use 55
3. Trend Determination Using RSI 59
4. The Truth About Divergence 65
5. Momentum Discrepancy Reversal Points 73
6. Trend Direction Using Momentum Discrepancy Reversal Points 81
7. The Relationship Between Price & RSI Retracements 83
8. Valid Support & Resistance Price Levels 85
9. Help! A Longer TimeFrame Just Jumped in My Puddle! 89
10. Conclusion 91
John Hayden was born in 1955 in Anadarko, Oklahoma. While attending college in 1974 he began trading stocks with Merrill Lynch, and Options with Hornblower Weeks-Hemphill in Poughkeepsie, NY after his classes. This is when Mr. Hayden began his studies of technical analysis using the programming language of APL on an IBM 360 mainframe computer. Since this inauspicious beginning, Mr. Hayden had been a trader of cash gold (1983-1993), 30 Year Treasury Bonds (1993-1997), and wrote his first book The 21 Irrefutable Truths of Trading (2000).
In addition, Mr. Hayden has worked as an account manager for the Managed Funds Division Of Lind-VValdock, the director Of risk management for Directional Research and Trading. He presently resides in Samara, Russia and is the Managing Director for First Volga Investments.
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