Using Stochastic RSI for Low Risk Bitcoin Trading

[xephyr]

The Stochastic RSI oscillator has been giving low risk entry signals for trading bitcoin with high success rate - Trading Bitcoin using Stochastic RSI

[pera]

looks promising.. but you know what's better? buy and never sell

[xephyr]

looks promising.. but you know what's better? buy and never sell

*lol* true, in a bitcoin bull market it is hard not to make money if you have patience ... the StochRSI has been very good to me for entering and exiting trades. The discipline of following an oscillator helps take emotion out of trades. So does a stop loss:)

[theonewhowaskazu]

looks promising.. but you know what's better? buy and never sell

I'm actually fairly sure that the stoch RSI indicator would outperform buy and hold.

[goxed]

Here are my indicators.

[theonewhowaskazu]

Here are my indicators.

Um, ok.... and how exactly are you using them?

[harounkola]

Ooh.
Thanks for this. I'm leverage trading BTC on BitFinex and simply create buy and sell orders. My BTC amount stays constant, I just add more USD with each successful trade. This will help me trade better.

[Tzupy]

Bitcoincharts has been down for over an hour. Someone else able to access it?

PS. It's working again, what a relief! 

[velacreations]

what time scale are you using for this?  1 day?

do you have a historical profit for 1 year?

[theonewhowaskazu]

what time scale are you using for this?  1 day?

do you have a historical profit for 1 year?

Just look at the chart for 1 year, at least for picking entry points, its fucking foolproof. For exit points, there's probably better options though.

[CMMPro]

Personally I love MACD for entry and exits....and AVG True range to determine the strength of what is happening.

[velacreations]

what time scale are you using for this?  1 day?

do you have a historical profit for 1 year?

Just look at the chart for 1 year, at least for picking entry points, its fucking foolproof. For exit points, there's probably better options though.

it depends on the time scale.  Looking at this on a 30m chart, it is anything but foolproof, or maybe I'm not sure where it indicates good entries.  Is it when the Sto first crosses the 20 line or when it is leaving 20?

what would you suggest for exit points?

[theonewhowaskazu]

what time scale are you using for this?  1 day?

do you have a historical profit for 1 year?

Just look at the chart for 1 year, at least for picking entry points, its fucking foolproof. For exit points, there's probably better options though.

it depends on the time scale.  Looking at this on a 30m chart, it is anything but foolproof, or maybe I'm not sure where it indicates good entries.  Is it when the Sto first crosses the 20 line or when it is leaving 20?

what would you suggest for exit points?

Sorry, daily, for 1 year.

Not sure about exit points, still working on that. It seems to give way too many indicators to exit; it might be a good filter though. You're definately not going to want to sell unless its moving down out of oversold, its just that it indicates to sell too often.

[velacreations]

Sorry, daily, for 1 year.

Not sure about exit points, still working on that. It seems to give way too many indicators to exit; it might be a good filter though. You're definately not going to want to sell unless its moving down out of oversold, its just that it indicates to sell too often.

I've been looking at it at shorter times, like 12h, 6hr, 4, 2, and it does reasonably well at those lower time periods, if you are trading at that high of a frequency.  For a general daily trend, I guess it does well enough.

How could we program this as an algorithm into cryptotrades.org to get email notices and compare backtesting for different time periods?  That might prove to be insightful.