| StockFetcher Forums · Filter Exchange · bollinger bands | << 1 ... 1 2 3 4 5 ... 23 >>Post Follow-up |
| wallman 299 posts msg #26294 - Ignore wallman |
4/22/2003 5:49:08 PM JOE,thanks for the tip on ATR,i believe that ATR(30) could be a very useful tool in setting my initial stop losses,such as a less volitile stock would get a 5% initial stop and a more volitile stock would get 8% or so to give it more room to move,kinda just been eyeballing till now,will try it out,also have found out the hard way that these lower priced stocks are very difficult to put physical interday stops on as many will stop you out in midday only to bounce back and close up for the day,very frustrating,so now i use mental stops instead and sell right before the close if stock is still below my stop,works 100% better,again thanks for your input!! MUDDY |
| no4j 45 posts msg #26311 - Ignore no4j |
4/27/2003 9:17:36 AM Thanks, Wallman!!!!! I was just doing some historical scans and it occurs to me that when the index 200 day moving average is down-trending, would this scan not work well in reverse for selling short? Needs more study but it seems the returns would be better in a down-trending market. This may be obvious but I'd like to hear if anyone has tried it. Also, Wallman, do you take a lot of short term (1 or 2 days) gains and get out? |
| wallman 299 posts msg #26314 - Ignore wallman |
4/27/2003 11:25:31 AM HI NO4J, thanks for the input,i've actually shorted the way you mentioned,found that it works much better for shorts if you use 4 days of price increasing for them but found that 3 days decreasing works better for longs,interestingly even as the market trends down the longs did much better,not so much in % of wins but very much so in the % gains of those wins,it may be due to the fact that i had to change the price values for shorts to $10 to $30 as opposed to $1 to $10 in order to get enough matches to chart and the fact that the brokers i use won't allow shorts on stocks under $5,another problem i had was both brokers more than half the time didn't have shares to sell available and you had to call to see if they could borrow them from another broker,about half and half on that but i wasted a lot of time calling, in the meantime the stocks price would be dropping causeing me to get a lousy entry,many times it's bad enough already because of the "uptick" rule,just wasn't worth it as i was making good gains on the longs anyway,but please don't not test it because of my experiances with it if you feel that it will work,if you do try it you want to see the shadow on the last candle touching or through top bb on the top of the candle and as with longs i've found that some sort of volume increase(with shorts buying pressure),these two factors may not increase the win % much but they point out the biggest gainers of those winners,that's the ones i want to find,as for your ? of holding length,because i trade for a living i began to hold only for only 1 or 2 days, taking quick 5% profits pretty consistantly but then watching very many of them run to 20% or more in a few weeks so what in do now is use a real tight trailer when the price gets to the middle of the bb's and i definatly sell when the price touches the top bb with a RSI(14) of 75 or greater,have missed out on a few 60%+ winners after i sold but i realize i can't have it both ways,i just go to the next play and try to be consistant,everybodys situation is different so i guess there is no real "perfect" holding time,again thanks for your ideas |
| no4j 45 posts msg #26317 - Ignore no4j |
4/28/2003 2:17:18 PM Thanks for the info, Wallman. One more area of concern for me. Do you place your stops GTC or Day? I never can decide if the risk of keeping a stop in place overnight is worth the risk of gapping under it at the open. And if it does, is it best that I stopped out even if the price is well under the stop price. Or would it be best to look for a recovery after the gap? |
| dabonenose 26 posts msg #26318 - Ignore dabonenose |
4/28/2003 3:43:23 PM Muddy, was looking at your earlier posting of screening the prior 3 days on decreasing close price and are you looking to buy on the first day that you get a long tail(shadow). If you do buy at this point, do you just set a limit buy at the BB bottom value? Does it matter if the tail breaks through the bottom of the BB? What is your main decision maker on which stock to buy; is it based soley on the tail and if volume increases. Sorry for all the questions, Dab |
| wallman 299 posts msg #26320 - Ignore wallman |
4/28/2003 10:34:33 PM HI NO4J, regarding stops--for the stocks that i play with my bb method i found out very quickly that i can't use actual physical stops because of their being under $10 which tends to make them very volatile interday,many times my stops would be triggered in the morning only to have them rally in the p.m. and actually close up 3% or more,that is very frustrating,many of these stocks have interday trading ranges of 10% or more so my 5% initial or trailing stops were tripped too often,it's a catch 22 kind of a thing,i need that volatility so i can get as many 20% gains in a few weeks as i do,my way around it is to place a MENTAL stop on the closing price,say a stock i own closes today at $5,if it closes tomorrow at 4.75 or less i will sell at the open the next day,you will find as i said this stock may hit 4.75 interday quite often but close up over $5 in which case you are still in it AND then you move your trailer up in accordance with it's price gain for that day,squeezing even more profit from it,iv'e found this to work great for me,with "normal" over $10 stocks with less volatility i've found that GTC physicals work fine holding overnight,the few times a stock will gap down on open,i have always felt that it's not worth the risk holding waiting for a recovery,it's better to just get out,i've seen hundreds of those kind lose 30% or much more in the following couple days,a couple of those can really devastate a portfolio quickly.....GOOD LUCK,MUDDY |
| wallman 299 posts msg #26321 - Ignore wallman |
4/29/2003 12:22:45 AM HI DAB,first i find the matches for the filter then i chart them to look for tails and volume increases,look at REMC and ALT on 4-25,then i watch open for the ones that open higher,if you can't watch open you can set a "buy limit"order slightly higher then yesterdays close,say 5.05 on a $5 stock,i want to try to catch them with some upward move,as many of the losers i see when i backtest the filter i would never have played anyway cause they opened down and continued down,it's sorta my safety net,as to which stocks to look for first for green i arrange the matches in order of highest volume first and give them a number with highest getting 1,then i put them in order of lowest price first and give them a number,lowest price being a 1,so if stock ABC is second highest volume it gets a 2,if its 5th in price order it gets a 5 for a total of 7,i watch for green and if more then one is up i will go with the lowest total first as this gives me a good combo of low price plus high volume,a combo which i've found to give me the highest % gains with seemingly no more risk,as for tails through bb,yeah that's what i want, the longer the better,part or all of the body too,these often are large gainers ONCE they start their move,if they make it close to the top bb you've got a big gain,if they only make it halfway before your stop is hit it's still real nice,anymore ?'s feel free to ask,sometimes i don't explain real well, GOOD LUCK |
| dabonenose 26 posts msg #26324 - Ignore dabonenose |
4/29/2003 6:40:50 AM Wallman,,,tkx, your response is very clear and I appreciate you taking the time to help. Dab |
| dabonenose 26 posts msg #26328 - Ignore dabonenose |
4/30/2003 12:17:26 AM Wallman,,, do you have a standard time frame for which you hold(ie, daytrade, sell at mid line on BB, sell when break of upper BB). Do you wat for indicator confirmation to sell(ie volume, RSI, etc.) tkx, dab |
| lhv1 7 posts msg #26329 - Ignore lhv1 |
4/30/2003 2:42:55 AM Nice screen, if I would like to short would: SHOW STOCKS WHERE CLOSE HAS BEEN INCREASING OVER THE LAST 3 DAYS AND AVERAGE VOLUME(90)IS ABOVE 100,000 AND CLOSE PRICE IS BETWEEN 1 AND 10 AND PRICE TOUCHED UPPER BOLLINGER BAND(20) work? And why the price limit? It seems to work also with bigger stocks. |
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