Single-Indicator systems r very risky to use. There will be a lot of signals when u use this system. There must be another way to filter those signals and to get best out of them. How about adding bollinger bands?

Originally posted by Sasha

This system uses just RSI to enter and exit. That is why there r a few Cons but at the same time, people using it for longtime have reported positive results. It is easy to understand but difficult to master. 

Indiators = RSI(2), and RSI(12)

Put RSI 12 on chart and then drag RSI 2 onto RSI 12. Do not put both RSIs separately on the chart but on each other. 

Buy when u see RSI (2) crossing RSI (12) from below.
Sell when u see RSI 2 crossing RSI 12 from above. 

Use trailing SL to maximize profit. 

Thx for sharing. I have a couple of questions.

To trade using this strategy,

What timeframe is best?
Which time is best? 
Which currency pair(s) is(are) best? 

What timeframe is best?
Any timeframe

Which time is best?
Time when market is trendy

Which currency pair(s) is(are) best? 
Any but try it on majors.

Originally posted by Sasha

What timeframe is best?
Any timeframe

Which time is best?
Time when market is trendy

Which currency pair(s) is(are) best? 
Any but try it on majors.

Another question:- Which market session will be the best? London, Newyork, Sydney or Tokyo?

Originally posted by Jogi

Another question:- Which market session will be the best? London, Newyork, Sydney or Tokyo?

It depends on the pair u r trading and timeframe. If u r using shorter timeframes then avoid volatile sessions because u will get too many fake signals. If u r using higher timeframes (5hr) then maybe best thing is to avoid fundamental timeframe. 

Above all, when u will pracitice it, u will know when u enter and when not to.

So what I got from ur message is that this system will generate high number of fake signals if used on shorter timeframes and/or highly volatile times.

Have u ever tried to use any other indicator with it? I am asking because there must be some way to minimize fake signals otherwise it can cause BIG losses.

Using of indicator got to be played very wisely, as it is sort of thing that makes huge difference. I operate under OctaFX who have mighty offering that counts from educational guidance to superb trading conditions counting low spreads, fast execution, over 70 instruments and then there are several demo contests through which we can easily learn and also have chance of winning prizes, so that’s just terrific for all involved and is one major reason why I feel so much more comfortable with them.