Noconas hourly RSI system

[mr_cassandra]

Nocona's latest update

http://www.investorshub.com/boards/read_msg.asp?message_id=8897027

 

[blancspa]

This ia interesting system. I will test it today using odl demo account.

Thanks for posting.

 

[mr_cassandra]

Morning, Nocona went on to spin off other free systems. His latest was NERS , which owes its roots to what Nocna learned from Woodies CCI teachings.

Though Nocona seems to have stepped back from daily posting, he used to post about NERS here.

Investors Hub - CS Group (CSG) Message Board

be sure to read the Ibox at the top of the page, extensive links and explanation of what is being done.

Regards, Steve

 

[blancspa]

Thanks

RSI 5 system (with 2SMA) works as an entry point.
What to use on exit?

Kind Regards

 

[mr_cassandra]

I use my own work and can only make an informed observation based on my own experience. That would be to design an exit point whose parameters fit the most events the most time over as long a period as you can compile data for.

 

[blancspa]

Sum up RSI 5:

13:36 FTSE went 60 pips down and I think is still sliding.
+40 pips (2:1) ratio ( don`t know the exit indicator) on odl Demo account taken in 20 min.

only +3 pips on real account as it rebounced for a while and didnt have a nerve to hold it for that (trading for somebody). But that `s a progress after loosing 7% of the capital yesterday.

two previous trades on demo account worked.

3 out of 3 so far. If it stays that way I might be able to regain faith.

PS
I think you have to wait for the clear 2SMA crossover.
but it works fine.

 

[Chipmunk]

Re: The system explanation

How has the system performed since the posting, almost 6 years ago? Are the short positions anywhere as profitable as the long ones?

Posted by: nocona
In reply to: kenwong who wrote msg# 2687 Date:9/5/2005 8:34:39 PM
Post #of 2903

Kenwong:

QQQQ / RSI 5 Hourly System informatiom:

When the RSI 5 of an Hourly bar closes below 26 BUY QQQQ
When the RSI 5 of an Hourly bar closes above 70 SELL QQQQ

When the RSI 5 of an Hourly bar closes above 74 SHORT QQQQ
When the RSI 5 of an Hourly bar closes below 30 COVER QQQQ

Make your trade at the end of an Hourly bar

Use a 2% stop loss. Set the stop loss when you make your trade
and use it where ever it occurs even if it occurs in mid hour.

Use a Live Chart where the 1st bar is a full hour (9:30 ET to 10:30 ET)

Since 5-24-05 there have been 29 trades with 25 gains, 3 losses and 1 even for a collective gain of + 20.77% w/o margin and a cummulative gain of +50.61% with max margin

Since I have used Rydex 2X funds a lot, I feel perfectly comfortable using max margin.

If you use options, invest only 10% of allocated money in options and invest 90% in QQQQ

Use slightly in the money near term options

 

[Chipmunk]

Hourly RSI

It's been years since the below hourly RSI system has been posted. Has anyone been using it in the ensuring time? Any info on results? Are there any refinements or modifications that have been used that you care to share?
Re the daily RSI, the system can be improved by lowering the RSI entry point from 25 to 15 during the seasonally unfavorable period May through October. There has been alot of quality research showing that this period is below average in stock market performance.
Chipmunk

Posted by: nocona
In reply to: kenwong who wrote msg# 2687 Date:9/5/2005 8:34:39 PM
Post #of 2903

Kenwong:

QQQQ / RSI 5 Hourly System informatiom:

When the RSI 5 of an Hourly bar closes below 26 BUY QQQQ
When the RSI 5 of an Hourly bar closes above 70 SELL QQQQ

When the RSI 5 of an Hourly bar closes above 74 SHORT QQQQ
When the RSI 5 of an Hourly bar closes below 30 COVER QQQQ

Make your trade at the end of an Hourly bar

Use a 2% stop loss. Set the stop loss when you make your trade
and use it where ever it occurs even if it occurs in mid hour.

Use a Live Chart where the 1st bar is a full hour (9:30 ET to 10:30 ET)

Since 5-24-05 there have been 29 trades with 25 gains, 3 losses and 1 even for a collective gain of + 20.77% w/o margin and a cummulative gain of +50.61% with max margin

Since I have used Rydex 2X funds a lot, I feel perfectly comfortable using max margin.

If you use options, invest only 10% of allocated money in options and invest 90% in QQQQ

Use slightly in the money near term options