ForexGen Relative Strength Index

Relative Strength Index (RSI) was developed and introduced in his book 'New Concepts In Technical Trading Systems'.

It is one of the most popular technical tools around.
Relative strength Index (RSI) is measured on a scale from 0 -100 with a reading above 70 being overbought and a reading below 30 being oversold. Originally he recommended a 14 period as the setting but I prefer 13. RSI set at 13 on set up What am I trying to achieve with these indictors?
I am using the indictors as overbought and oversold indictors.
Not only that, I want them to be at the absolute maximum of their
overbought or oversold range.

5 major groups of investors who participate in FOREX

There are 5 major groups of investors who participate in FOREX – Governments, Banks, Corporations, Investment Funds, and traders. Each group has varying objectives, but the one thing that all the groups (except traders) have in common is external control. Every organization has rules and guidelines for trading currencies and can be held accountable for their trading decisions. Individual traders, on the other hand, are accountable only to themselves.

This means that the trader who lacks rules and guidelines is playing a losing game. Large organizations and educated traders approach the FOREX with strategies, and if you hope to succeed as a FOREX trader you must play by the same rules.

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