| StockFetcher Forums · Filter Exchange · bollinger bands | << 1 ... 3 4 5 6 7 ... 23 >>Post Follow-up |
| wallman 299 posts msg #26344 - Ignore wallman |
5/1/2003 4:21:29 PM HI JANEIRO, no need to thank me,ALGN was a nice play for your first real trade,it closed up another 5% today,it's getting real close to the 75 RSI,so if you want to try and let it run past that 75 just keep an eye on it real close with your mental stop....IMO, GOOD LUCK |
| no4j 45 posts msg #26347 - Ignore no4j |
5/1/2003 6:28:53 PM You got it exactly right, Wallman. I was trying to figure out how much to put into each trade so I would come close to exhausting my allotment but still have enough for the trade of the day. I saw something today that was interesting. I paper traded ROV on 4/28 (in @ 10.67). The low today went to 10.00. That was below the 5% stop. It closed @ 10.17. That's above the stop. From what you said B4 you would still be in the trade because you do not want to stop out intraday. Do I have that right? The only reservation I have about this is not having physical stops on these super-volatile stocks. This is great fun!!! |
| wallman 299 posts msg #26349 - Ignore wallman |
5/1/2003 8:32:16 PM HI NO4J,yeah try to keep it fun,looking at the ROV chart i can see a couple of things that you may have missed,first although ROV showed up on your filter matches in reality it is not a match for me,as it only has 2 down days in a row,on 4-22 it closed at 12.12,on 4-23 it also closed at 12.12,making it an even day,i know by glancing at the candles it appears that it's a down day and the fact that it showed up as match you wouldn't ? it,but i've noticed the stockfetcher filters very often include unchanged days as down days when they are not(that is why i use charts in which the volume bars can be colored red for down days and black or white for up days,you would have spotted that 4-23 was not a down day cause the volume bar was not red at first glance,the first thing my eyes go to is to make sure i've got 3 red bars in a row)the second thing is you say you entered at 10.67 which would make your 5% stop 10.14,you are correct there,BUT it appears that you failed to move your 5% trailer in accordance with the close price of 10.80 on 4-28,which should have made your stop now 10.26 not 10.14,it's very important to always remember to raise your trailer with every closing price that is a new high from when you entered,if you don't your 5% stops will really be 6% or much more if it closes up a couple of days in row,if a stop is put on a buy price of $10 at 9.50 and it runs off to $12 and you don,t adjust it ,if it starts to go down,you may not only give up all of your $2 gain but actually lose money on the trade if it goes below 10 before you realize it,that's why they are called trailing stops,you trail it's upward price move,after a stock moves up more than 5% anything after that is all profit from there and that's a real good feeling,especially when you know from backtesting this filter what big gains it's capable of in a short time,THAT is fun,so if it closed at 10.17 and you had adjusted your stop to 5% of 10.80,you would be stopped out, either you sell right before close or you sell right after the open,it's your choice,this is why i say you should papertrade and then just worry about finding out what is right for you in realtime with numerous but SMALL trades,myself i always sell after the open in hopes of an upward move(if it's big enough i'll continue to hold during the day to see what happens)but you must understand i have traded this filter for over a year realtime and i have confidence in it,as for putting physcial stops on very volatile stocks that's exactly why i don't,because they will trip you out often early in the day and then not only recover somewhat but to close up for the day,but i need that volatility for the chance of a big gain,that's why i automaticaly discard ETF's,mutual funds,and utility stocks when they appear as matches,they are not that volatile,hence low risk but low reward,all these things must be worked out by only you through practice,as everyones situation and objectives for trading are different REGARDS |
| ddsmith2 10 posts msg #26350 - Ignore ddsmith2 |
5/1/2003 8:46:42 PM Wallman, Was wondering what type of money management you use and also what type of "system" do you use to cut losses or take winnings? Thanks, |
| ddsmith2 10 posts msg #26351 - Ignore ddsmith2 |
5/1/2003 9:03:22 PM Wallman, I had not looked at the May 1 posts until now and see that there is alot of info on this subject. Looks like: Enter as you have already described Use a 5% trailing stop on a close basis (and sometimes look to see what happens the next morning first). Money management, 1 to 4 stocks, whatever your comfortable with. Seem about right? Do you ever just take a big winner without hitting the 5%? Tighten the trailing stop tigher than 5%? Any othe tips? etc. Thanks, |
| wallman 299 posts msg #26352 - Ignore wallman |
5/1/2003 9:06:45 PM HI DD, i think that if you haven't read the posts on the bottom bb method from the beginning that you should take the time to do so,as i believe you will find most of your ?'s answered in my replies,if you have any ?'s after doing so please feel free to ask,i'll be more than happy to try to answer them for you |
| AntNet 36 posts msg #26354 - Ignore AntNet |
5/1/2003 9:23:47 PM I've been following the BB system posts and am trying to pull together the rules and exceptions. Is this the correct initial filter? Fetcher [SHOW STOCKS WHERE CLOSE HAS BEEN DECREASING OVER THE LAST 3 DAYS AND AVERAGE VOLUME(90)IS ABOVE 100,000 AND CLOSE PRICE IS BETWEEN 1 AND 10 AND PRICE TOUCHED LOWER BOLLINGER BAND(20)] Results as of mkt close Thursday May 1, 2003 Symbol Last %Chg Vol ROXI 4.84 -7.28 310050 PCS 3.47 -0.86 7666700 DTHK 2.26 -7.76 218900 BNBN 1.43 -10.01 554094 IONA 1.35 -0.74 158150 I'll take it in steps so I don't get to far off track. Tks Bert. |
| no4j 45 posts msg #26356 - Ignore no4j |
5/1/2003 10:14:08 PM Me again. I just turned on the Volume indicator color option in IQCharts. I didn't even know I could do that! Makes it a lot easier. The scan doesn't return the same stocks as stockfetcher does. I'm working on the scan to try and figure out what the diff is. I simply missed the part about moving the trailer up before it hit the center BB band. Got it now. Makes sense. Thanks again! |
| wallman 299 posts msg #26359 - Ignore wallman |
5/1/2003 10:42:59 PM DD, your last post didn't appear on my screen until i posted my answer to your first post somehow,or i wouldn't have asked you to read the posts as you stated you did in your second post(huh?)hope you understand what i'm TRYING to say,anyway sorry for the mix-up,yes you have it right with your 3 statements,but remember it's probably best to go with 1-4 stocks only after you are comfortable with it,yes i tighten the trailer at midpoint of bb to 3%,and yes i take quite a few winners without giving back anything,this is my goal at the beginning of EVERY trade,i will sell the next morning when the stock reaches an RSI(14) of 75 or higher,but as described with my mental stops i will first wait to see if the stock opens higher and watch it and if i don't sell repeat this over again the next day,iv'e actually gotten 4 extra days gains this way,even as the RSI was into the mid 80's,BUT the moment i see red at the open,it's sold,period,no matter if it's .01,you have to remember with these low priced volatile stocks that it's basically a game of momentum,if it starts to turn against you at the open after a good run of a few days or weeks,it could mean the crowd or worse yet mutual funds are taking those profits and i'm not holding to find out,you have to remember many of these stocks that you sell at 75 RSI will keep going so if you use this approach you will have to deal with it,myself, i like getting out giving back nothing so it doesn't bother me,i just try to find another "fresh" one,an example to look at is MNTG,bought 4-14,hit 75 RSI at close yesterday,sold today as it opened .02 down,this stock may only be starting to run,but i got out clean with 24% and there is no use to get greedy IMO, MED is another perfect example of watching the open to see if it opens higher after a stop is hit the day before,bought 3-31, hit midpoint bb 3% stop 4-4,next day it opens green,and finally stopped out with 75 RSI ,opened next day higher but started to slide fast and i sold ,just a little trick like that added 26 days to the trade and an additional 56% profit......AS ALWAYS,GOOD LUCK |
| wallman 299 posts msg #26360 - Ignore wallman |
5/1/2003 11:29:11 PM HI BERT, yes that's the filter and they are the matches......couple of tips,first, because i like to have 10 stocks to chart i will keep adjusting the volume to give me 10,but NEVER lower than 50000,tonite 50,000 will give an additional 3 to chart, of the ones that meet my volume and bottom tail criteria,i will watch for green at open on the original 5 first and if none are up watch the other three,reason i like 10 to chart is because when the market opens crappy there may only be 1 or 2 that show green,gives me more choices to make a better entry from,and another thing is to look for stocks that were on the match list the day before and failed,these have proven to be good gainers in the past,guess it improves the odds somewhat,but not sure,don't like to out-think myself, PCS and ROXI fit that tonite GOOD LUCK |
| StockFetcher Forums · Filter Exchange · bollinger bands | << 1 ... 3 4 5 6 7 ... 23 >>Post Follow-up |
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