RSI Condor Forex Trading

Strategy
The RSI Condor strategy is a very simple forex trading
strategy that beginner forex traders as well as advanced
forex traders can find useful.

With this forex trading strategy, you don’t need to do a lot

of technical analysis because it would probably take just a 5
seconds scan of your forex charts to see if you can trade or
not, that’s how simple it is when you know its trading rules.

Timeframe: Preferably 15mins and upwards

Currency Pair: Any

Indicators: 5EMA, 12 EMA & RSI 21 (Set RSI setting under

Parameters, you have the set the “Periods=21″)

RSI Condor Trading Rules

Buying Rules:

 When 5EMA crosses 12 EMA to the upside, that’s an

indication that the trend has changed to uptrend.
 Next you look at the RSI Forex Indicator and If its above
50, then Buy. I suggest you buy immediately at market
Price.
 Place your stop loss at least 2-5 pips below the low of the
cross-over candlestick.

Selling Rules:

 When 5EMA crosses 12 EMA to the downside, that’s an

indication that the trend has changed to a downtrend.
 Next you look at the RSI Forex Indicator and If its below
50, then Sell. I suggest you sell immediately at market
Price.
 Place your stop loss at least 2-5 pips above the high of
the cross-over candlestick.
TAKE PROFIT TARGETS
Here’s two options you can use to set your take profit
target:

 Set profit to 3 times what you risked. For example, if

you risked 30 pips then set your take profit target at a
price level that when the market reaches it, you will get
90 pips.
 Or if its a buy trade, look to see if there a previous swing
high which the price can reach easily and just make sure
its at least if price reaches that level, you will have 2 or
more times the risked you put for that trade.

TRADE MANAGEMENT
Nothing is certain in the forex market, it is full of
unexpected turns and its really unpredictable.

So you need to protect your profits on profitable trades. And

how you do that is by managing your trade that is profit and
locking in profits as the trade moves in favor by using
trailing stop loss.

Here are two options on how you can trail stop your
profitable trade:
 If price moves in favour and you are in profit, move your
trailing stop and place behind “bottoms” in a buy trade
and above the “tops” in a sell trade. This is the best
trailing stop technique. The chances of you trade being
stopped out prematurely are minimized using this
technique.
 The next option is to move trailing stop by certain
number of pips when price moves by a certain number of
pips. Forex example, if price moves by 20 pips than
move trailing by 10 pips. This means for every 20 pips
price move, you move your trailing stop by 10 pips.

This chart below shows how to use the option 1 trailing stop
technique in a buy trade. Do the opposite for a sell trade.

In this way, you continue to lock in profits as price moves in

your favor:
 POLYGON FOREX SCALPER

What makes the Polygon Scalper so powerful?

We built the Polygon Scalper on a trading strategy that

works for decades…

We didn’t use exotic or speculative techniques – instead we

examined the strategies that professional fund
managers…or what insiders call “The Smart Money”.

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The strategy has been tested, reviewed, refined, and

re-tested to insure that we have the most powerful and
robust tool in the market.

Polygon Scalper is programmed to automatically adapt to

the current market conditions.
We know that no two trading sessions are alike, and your
trading strategy needs to adapt to the market.

Polygon Scalper uses a cutting-edge polynomial algorithm

that adjust system parameters in real-time.

If you are looking for anything between 30-100 pips daily,

the Polygon Scalper is for you.

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