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Lee, The StoRSI continues to test well (after ten years) on the ES contracts: Mov( ( RSI(8) - LLV( RSI(8) ,8 ) ) / ( ( HHV( RSI(8) ,8) ) - LLV(RSI(8),8) ),3,E) *100 Try +10 & +90 as default triggers. Also, adding a trend qualifier can keep you out of a lot of bad trades. I'm always amused by traders insisting that they must crack the toughest markets available to trade. On the equity side, I am always confronted with the question? "Does this work on the Q's?" As you have pointed out: the ES is a funky monkey. Why force work on market that tends to random walk? I've often asked groups: "If you and your friends wanted to play five on five basketball, who would you pick for your opponents?" Many of us would like to play against a team of Magic, Kareem, Bird, Micheal &
Kobe (just an example). That would be a fun game to play in. Now, if I asked the same question and added that you would be playing for 10k a player, I think you would change who you wanted your oppenent to be (my choice would be to battle the fourth grade team attending the Hellen Keller school for the blind). The score being kept in the trading game is total return (with reasonable drawdowns), No one really cares how big your cahones are ("Real men only trade the indices!"). The bottom line is a simple one: "Trade the easiest vehicles on the board". Stubborn, tough, guys, tend to be the biggest losers. I hope the formula leads you to profitable trading. Take care, Skeets
leeontherun <leeontherun@xxxxxxxxxxx> wrote: Hi All,
Does anyone have any recommendations for a good foundation indicator
that works on the S&P500? It seems to be the hardest one to crack. I'm
aiming for an hourly chart.
The S&P500 characteristically has a lot of break outs with
consolidation periods.
Otherwise are there any books that people can recommend on any gurus
that promote a system that works on the S&P500?
Thanks,
Lee.
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