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Settings for the ES
Posted: Mon Apr 28, 2008 12:58 am
by skeeter
I have spent all weekend trying to find something that I am sure is here somewhere, but guess I will have to ask for help.
Does anybody have suggestions for BuyZone settings for the ES?
Thanks in advance.
BTW, TRO has got to be more than one guy. How can just one person answer so many posts, write code for so many different platforms, and trade also. Kudos.
Posted: Tue Apr 29, 2008 5:55 pm
by eudamonia
skeeter,
Haven't used it much on the ES but on the ER2 my favorite settings are enter a buyzone long trade at +1.1 points above the open or sell at -1.1 points below the open. Stop of 1.2 points and a target of 1.0 points. CraigAudio showed some of his testing with this setting and found it to be favorable. Similar settings should yield good results.
For the ES since it is a 4 tick point instead of a 10 tick point like the Russell I would suggest that your settings should be tighter (as indeed the Russell has more volatility than the ES). Doing some analysis of the volatility and the statistics of the ES should yield you some good settings. Good luck.
Edward
Posted: Tue Apr 29, 2008 6:03 pm
by skeeter
Thanks for the info. I agree the ER2 is a better to trade, but I assume it will change character when it leaves the CME. Do you have an opinion on that?
Posted: Tue Apr 29, 2008 10:14 pm
by Lynx
I remember TRO saying somewhere in here that you can use the statistics indicator to find out what settings to use for the ES. I dont have it and no clue how to use it so cant be of much help but interested in knowing if you guys ever find out. HOpe this helps.
Posted: Wed Apr 30, 2008 3:27 am
by khalid
Skeeter,
When the 12 bar average ES range is 2.00 or greater, I find the following allow lot of winners:
Entry OPEN plus or minus 1.00
Target ENTRY PRICE plus or minus 2.00
STOP ENTRY PRICE plus or minus 1.25
Good luck.
Khalid
Posted: Wed Apr 30, 2008 10:59 am
by skeeter
That is close to what I was using initally, so thanks for the intput. Would that be 12 bars on a 5 minute chart?
Posted: Wed Apr 30, 2008 11:02 am
by khalid
Yes. Average of twelve 5 minutes bars during day session only.
Posted: Wed Apr 30, 2008 4:49 pm
by eudamonia
skeeter,
We'll have to see what happens with the ER2 when it moves exchanges this summer. I suspect that initially there may be some hiccups but it's such a popular instrument I doubt the ICE will want the character of it to change much. Besides that there is always the SP 600 which the CME is introducing to match the market characteristics of the ER2. So we'll see I guess...
Edward