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    Scalp-Based BB RSI Dips and Rallies Strategy

    By Bryan Wagner on Wed, 02/01/2012 - 14:12

    The strategy developed in today's video session has a relatively simple premise:

    "Looks for scalping-based short opportunities for stocks (assumed to be relatively consolidating) based on High being above the Upper BB and RSI crossing above 70."

    As we were able to demonstrate, some simple mathematical concepts can be an extremely powerful way to improve your trading.  Below, you can find the long and short versions of the strategy for import into Wizard Lab.  I encourage you to watch the video if you missed today's Prodigio chat as it demonstrates two very good signals that accurately depict the ideas behind the logic.  It's important to remember that, as with all scalping-based strategies, you need to focus on a basket of symbols that you are very familiar with.  This lets you apply your own experience to the trades, which should always be the final governor in any automated or semi-automated system.  It also helps you tune the automated component closely in line with your general trading strategy.

    Great trading!
    Bryan

    AttachmentSize
    BB RSI Scalp Long - Strategy.wiz3.1 KB
    BB RSI Scalp Short - Strategy.wiz3.1 KB
    Joe Osborn on Wed, 02/01/2012 - 14:49
    Title: BB RSI Scalp Long

    I downloaded both of these and then imported them. When I try to open them from my rules, nothing loads.Attached are the files as they were
    imported. Am I missing something?
    Joe

    AttachmentSize
    Bollinger Band Squeeze Out - Strategy.wiz 1.93 KB
    Bollinger Band Squeeze In - Strategy.wiz 1.93 KB
    Joe Osborn on Wed, 02/01/2012 - 15:02
    Title: BB RSI Scalp Long etc.

    Never mind.....I was doing something wrong. I was trying to open by double clicking mouse. I was able to open by 1) clicking on the "Open"
    button, or 2) right clicking mouse and selecting "open".
    Sorry "bout that.
    Thanks,
    Joe

    yhtgju fujki on Sat, 02/04/2012 - 01:15
    Title: Forex Calendar

    The Real-time Economic Calendar only provides general information
    and it is not meant to be a trading guide. Forex calendar commits
    to offer the most accurate contents but due to the large amount of
    data and the wide range of official sources.Forex trading is serious
    business where big money changes hands within seconds.

    Forex Calendar

    Tal Lancaster on Thu, 04/12/2012 - 01:41
    Title: Trying to tweak the Short strategy

    Hello -- I don't know if this type of question is better here or in the strategy forum. So for future reference. What is the preferred location for these types of questions about strategies listed in the videos?

    I was playing with the short version of this strategy and as an exercise I was trying to change the behavior so it not try to trade on a particular false signal. The example I have in mind is that with PCLN at the 4/3/12 15:40 it looks pretty bullish and yet the strategy tried to get into it.

    So the first thing I tried was to change the RSI->Cross Above to RSI->Cross Below. That skipped that trade, but it hurt the overall results of the strategy. The timeframe I was running was from 4/3/12/-4/11/12 and I was just using PCLN for the symbol.

    Is there a more concise way that comes to mind to tweak this that might make this strategy a bit more robust against more bullish signs?

    Thanks.

    Trey Tramonte on Fri, 05/11/2012 - 15:45
    Title: Scalping for Futures

    I'm looking for a good scalping strategy specifically for /CL. Ultimately I want to find/create an intraday starategy that is both short and long. Im looking for very small % hits, does anynoe have any suggestions?