I've been following his consistency and results more closely than the rules but found this I had filed away.
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
It is important to note, that Nocona used prophet.net live charts.:
Use a Live Chart where the 1st bar is a full hour (9:30 ET to 10:30 ET)
He is always entering/closing his trades at the END of an HOURLY bar (starting with opening at 9.30 am ) i.e.
first hourly bar of the day would close at 10.30 a.m. EST . and Nocona treat’s the last bar as an hourly bar even though it is only 30 min
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. If you do get stopped out, wait for the next signal in the opposite direction.
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
Furthermore he is NOT always in. IF stopped out, he will NOT enter trades in the same direction.
I think there is also a rule about not taking the trade until it crosses back across a 2 sma.
I am not aware of any better system than this one. Imo its a model of simplicity and steady, predictable performance.
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