| StockFetcher Forums · Filter Exchange · bollinger bands | << 1 ... 4 5 6 7 8 ... 23 >>Post Follow-up |
| knowsenough 54 posts msg #26361 - Ignore knowsenough |
5/1/2003 11:45:31 PM Some advice on Paper Trading.... I am new to the service... as a paying customer, and so am still getting around all the tools here, but I read some posts here and thought I could add a bit of advice from experience. First, once you remotely feel you have some sort of system, start using it right away. Paper trading is not trading at all...why?....the most important ingredient is missing (you) meaning, "your emotions". You'll never truly know if your system "really" works till you put down the cash. Only then will you know what it's really like trading. And remember...it's okay to lose, as losing lessons are "truly" never forgotten, unlike winning. |
| wallman 299 posts msg #26362 - Ignore wallman |
5/1/2003 11:53:53 PM HI NO4J,i use prophetfinance java charts,they are free and real easy to read,if you use realtime charts think they are pretty cheap,i noticed that ROV is an over $10 stock,a friend who has been trading this method with these for awhile tells me that an RSI of 70 is better for your top bb exits,than the 75 used for under $10,i don't know as i stick to under 10 always but it might be worth fooling around with if you are gonna go over 10,if your papertrading goes well let me know how you make out with real trades...... |
| no4j 45 posts msg #26365 - Ignore no4j |
5/2/2003 7:31:07 AM Wallman, Still another question (you've really got something going here). One requirement of the screen is that the price touches the bottom BB. What if the day range is entirely below the band? Is this a stock you would not want to deal with? Oh, about the over $10 stocks. I am paper trading with stocks up to $20. Just trying to see the difference in volatility. And I agree, paper trading is NOT like the real thing. Many people paper trade well but lose discipline when the cash is on the line. |
| wallman 299 posts msg #26366 - Ignore wallman |
5/2/2003 8:23:33 AM HI,NO4J, yeah alot more interest than i thought there would be,most of the time when people see the simplicity of the filter they don't even bother to check it out,as far as bodies entirely out of bottom bb,i love those kind but don't see that many,in fact i will usually watch for green at open on those kind first if they meet volume and tail criteria,think you will find over $10 stocks will work fine,it's just that i first started with 1-10 dollar stocks and am afraid to change,it's the "if it ain't broke thing",ya know.....see ya,muddy |
| dabonenose 26 posts msg #26368 - Ignore dabonenose |
5/2/2003 10:24:23 AM Hey Muddy,,,your making this system very clear. I started day one realtime trading it and so far, I am extremely impressed. The only thing is I pulled the sell trigger early on gainers, but kept the tix in a separate trade so I could follow their progress. This way I could see if they broke down or kept advancing. I only did this for two days and I was convinced. Love this system and your generosity, it's not easy to find these days. I also scan Fetch for potential double bottoms that haven't materialized yet and buy at the second bottom support level. So far 2 for 2 in that department and actually I'm seeing a more rapid advance there, but more risky. Dab |
| wallman 299 posts msg #26369 - Ignore wallman |
5/2/2003 12:07:24 PM HI DAB,i've gotten alot of help with trading over the years,so i don't mind giving back if i can help...pulling the trigger early is fine once you get the confidence,PCS and DTHK today were perfect examples for me cause i know these stocks from past trades,that's the really neat thing if you stick to this system long enough,you'll build up a list that really react well to bottom bb's,PCS volume increase was a little questionable but since i know it from the past that was no problem for me,also i believe DTHK 2nd candle back was an even day,a stock i would discard normally but since i also know that one well,to me it looked like a good play,you will also get to know the ones to stay away from after awhile,a few just fail time after time,knowing these things puts you at an even greater advantage than most folks,but it will just take time,i would strongly suggest you keep some kind of journal and record what you notice everyday about certain things with different stocks,believe me these stocks will turn up again very often,you could just pull up a random backtest of say matches for 100 days ago or so and you would be suprised at the ones that turn up that are matches recently,good luck with your double bottom system,i've found that with any system dealing with bottom bb's,buying on green is pretty important.....see ya,MUDDY |
| dabonenose 26 posts msg #26370 - Ignore dabonenose |
5/2/2003 4:00:58 PM Well Muddy,,,I use the must open green for double bottoms too,,,LOL. It's amazing how many screens can feed off of a core screen. My double bottom always culminates in several down days too, so I figured why not wait till it turns up green to buy, and it works,,,LOL. The basic for the double bottom was generated originally here by the Fetch crew and I just added my little tweaks, like price, volume, etc. etc. Thinking about it,,,this is a bulletin board(delayed chat room,,,LOL). Dab |
| defghca 150 posts msg #26371 - Ignore defghca |
5/2/2003 4:06:37 PM wallman; thank you for the most interesting filter would adding "close 1% above low" insure the formation of a tail would close "decreasing for more than 2 days" catch 3 days, and 4 days and 5 days also i trade on the TSX and unfortunetly due too low volume and or capitalization i have not been able to tweak your system . any ideas or help is appreciated. |
| wallman 299 posts msg #26372 - Ignore wallman |
5/2/2003 6:10:32 PM HI DEFGHA,thanks and your more than welcome...yes,adding close 1% above low should give you a tail,the reason i don't use it is because i want to see every match the basic filter brings up,because as i stated in an earlier post,if you do this long enough and keep some type of journal or your memory is good(mines not)then you will develop a "core" of stocks which are pretty deadly with the bottom bb bounce over the last couple of years,therefor if one of these matches again i may play it even without a tail,but i don't ever recommend that until you are very familiar with these stocks,and yes 2 days decreasing will catch 3 or more the last time i tried it,i just don't use it cause 2 down days never worked even near as well as three and it just gave me more charts to read,since i discarded 2 days anyway,for myself i didn't see the point,if you trade on the TSX and volume and/or cap is a problem then tweaking is a problem and i wish i could help but i have no idea......also i believe that it was your earlier post that requested i post my system that i used profitably for so many years,i will be glad to do that in a few days,it's just that it takes a lot more work to get the feel of it and i didn't think it would be of much interest,but i sorta thought that about this bb method and from the response i guess i was wrong.....so i'll try to get it out on a post this weekend, stay tuned...SEE YA |
| wallman 299 posts msg #26373 - Ignore wallman |
5/2/2003 7:03:58 PM HEY DAB, i like your term "must open green" MOG for short,i've been interested in bb's for years and the one thing i can tell you after all those years that is ALMOST certain to me,is that if you play ANY kind of either beaten down and/or bottom bb method you better make sure you get a "running start" at the open,otherwise it can keep dropping for days if there is no buying interest out there,it seems to be a large but simple to use advantage to give yourself,many huge gains are started just by a little green at the open,if you watch for a few weeks you'll propably see what i mean......GOOD LUCK |
| StockFetcher Forums · Filter Exchange · bollinger bands | << 1 ... 4 5 6 7 8 ... 23 >>Post Follow-up |
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