Summary of Reddit Comments on "Trading with RSI"

RSI Trading Tips based on Timeframes:

Check RSI on different time frames:
- For positional trading, check monthly or weekly RSI for bullish signals.
- For short-term or intraday trading, check the daily timeframe for bullishness and smaller timeframes for entry points.
Consider using other indicators along with RSI like MACD, Bollinger Bands, Keltner Channels, Moving Averages (9 EMA, 50 EMA, 200 EMA), price, and volume.

Indicators and Strategies Mentioned:

MACD: Used in conjunction with RSI by some traders.
Bollinger Bands: A popular indicator used alongside RSI.
Keltner Channels: Another indicator mentioned in combination with RSI.
Moving Averages (9 EMA, 50 EMA, 200 EMA): Commonly used with RSI for swing or positional trading.
Price and Volume: Important indicators for trading strategies.
Trend Lines: Used to identify market momentum shifts.
Volume: Emphasized by some over RSI for trading decisions.
RS (Relative Strength Index): Along with EMA from 9-200, as suggested for analysis based on timeframes.

Additional Recommendations and Resources:

User suggested YouTube channels for trading insights: traderlion and Jack Corselis.
Historical minute charts and specific win rates were topics of interest among traders.
One user humorously suggested: "There is only one signal you have to consider: what I do. Just do the opposite and you'll be fine."

Pros and Cons:

Pros:
- Utilizing RSI with other indicators can provide a well-rounded analysis.
- Different time frame strategies cater to various trading styles (positional, short-term, intraday).
- Incorporating various indicators and tools can enhance trading decisions.
Cons:
- Varying opinions on the effectiveness of RSI compared to other indicators like volume, price, and moving averages.
- Success rates and optimal trading times can be subjective and dependent on individual strategies.

Overall, traders use a combination of indicators like RSI, MACD, Bollinger Bands, moving averages, price, and volume, each offering unique insights for different trading approaches. Experimenting with various tools and finding what works best for individual strategies is key in trading success.