| StockFetcher Forums · Filter Exchange · bollinger bands | << 1 ... 5 6 7 8 9 ... 23 >>Post Follow-up |
| wallman 299 posts msg #26374 - Ignore wallman |
5/2/2003 8:25:09 PM HEY EVERYBODY, about 6 weeks ago i started adding the methods pics to a fake portfolio on clearstation.com to see what would happen taking these pics and trading them in the worst case scenerio i.e. NO stops and entering "blind" putting in market orders before the open,having no idea if they would open up or down,having no idea if they would open way above my 2-3% buy limit(many did by the way,giving up over 5% at the start of the trade)just typing in the symbols basically and letting em run,up or down,taking no profits and not replacing them with "fresh" picks,well, i don't check too often so when i checked them tonite i was amazed at how they have done so far(there were a few higher priced ones i threw in so i could fill the 40 max allowed port faster)if your not familiar with that site and you want to see how the picks did,here is how......go to CLEARSTATION.COM on the homepage and over in top left corner click on "recommend",then when you're on the recommend page go over to the top right to the "find a recommend list" box and type in "dabomz"(that's me)...i started it because i wanted to see what would happen if someone newer to the method started trading it and would make a few mistakes as it would be only natural to do so(i still make quite a few).......HAVE FUN,MUDDY |
| defghca 150 posts msg #26375 - Ignore defghca |
5/2/2003 9:26:50 PM wallman i take good note of your comments. i will have to work harder on the TSX on the subject of your previous system, it was just intellectual curiosity and also two are better than one. as by my last post your bb system is fantastic...on us stocks. |
| ddsmith2 10 posts msg #26377 - Ignore ddsmith2 |
5/3/2003 11:39:11 AM Wallman, Appreciate, as I'm sure everyone does, your willingness to share your knowledge and wisdom with us. I have reviewed all the past posts and have a couple of questions. Once your stock has moved up to the 75% RSI level, you stated that you will continue to let it run as long as it opens up (green);however, you also will sell if it turns around on you. Any details on what that would look like, such as price drops below the previous days close, 1% below previous days close, etc. On buying first thing in the AM, you like to see it open green and then buy 15-20 minutes later (around 9:50) if the price isn't over 3% of previous days close. What if the stock opens green but by 9:50 is actually trading below the previous days close. Does this make it a no play or maybe an even better play? Thanks a million |
| ddsmith2 10 posts msg #26378 - Ignore ddsmith2 |
5/3/2003 12:02:26 PM Wallman, Another one if you don't mind. On your post to DAB on 4/30 you said you had also bought KOPN. When I look at that chart, it appears to have a very short shadow on bottom compared to top. If you see this also and played anyway wondering what make the difference to make it a play. Thanks again. |
| ddsmith2 10 posts msg #26379 - Ignore ddsmith2 |
5/3/2003 12:10:47 PM Wallman, As you can probably tell, I am studying this morning. One more. Say you are looking at a few stocks. One is green at the open, you wait and watch till 9:50 to make your trade. By 9:50 two others are also in the green, all below the 3% above previous close level. Do you tend to play the one that opened in the green or look at all three equally as options at that point (how far above previous close, volume, price,etc). and choose the best based upon those? Thanks, |
| wallman 299 posts msg #26381 - Ignore wallman |
5/3/2003 1:55:51 PM iHEY DD.....good to see you're studying,good q's,first i am not sure how you would phrase what you are looking for maybe "price decreased from 1 day ago",if a stock opens green then 15 mins later is trading below previous days close if it moves back up to show green by 10:30(just my preference,you can wait as long as you like,then if you still have an opening i would definitly buy),many times you will get a much lower entry this way putting you a couple % ahead at the start if the stock starts to run,there was one a few days ago that opened up .20 then 15 mins later was down .10 but came back to up .05 at 10:15,i believe it was on a $5 stock,so you saved yourself 3% at the entry!..... as you pointed out with KOPN the top shadow is longer then the tail,which NORMALLY would be a throwout for me,BUT it had 2 strong points going for it that i like to see,one was the body was entirely out of bb's and the other being the huge body before it and a big body next to that,if you look back you will see that this is not the way this stock normally trades,i was taught a long time ago that bb's are an expression of the stocks extreme price limits(at that current time)so therefor if any other extreme occurence is going on at the moment such as larger than normal volume,very long tail,or big bodys and/or bodys out of bb's, it has a greater(and quicker!) tendency to reverse the direction of the price movement,in this case back up,returning it to more normal conditions,so body out of bb's and large bodys combined to outweigh the smaller tail making KOPN a play for me,that's what i mean when i say over time you will get a feel for it,since all your concentrating on is getting good at reading bottom bb's moves it shouldn't take long,to get the max out of this system that's all you need,let others worry about the middle and top bb's,you don't need to with this system,like you've heard ,just do one thing but do it well......if more than one stock is green by 9:45 i base my decision on which one to buy entirely on the ranking system i described in my 4-29 post,it takes all emotion out of the picture which for me is perfect,but you may want to trade the one that you just looked the best to you for some reason,but that never worked for me ...if you have any ?'s you know you're welcome to ask......see ya |
| 19546 9 posts msg #26382 - Ignore 19546 |
5/3/2003 1:58:03 PM would putting 2% above low as a filter make for a better tail |
| wallman 299 posts msg #26383 - Ignore wallman |
5/3/2003 2:29:40 PM 19546, putting 2% above low should give you a longer tail....if you are thinking of adding this to the bb filter and only charting those matches you will be doing yourself a great disfavor as every situation is different as described in the case of KOPN, look at BPUR on 3-25..HUGE body,HUGE volume,tiny little tail, a 1% or more above low add-on would not have caught that stock...remember you are trying to increase your odds of big gains ...see ya |
| dabonenose 26 posts msg #26387 - Ignore dabonenose |
5/4/2003 11:30:23 AM Wallman,,,only got one stock on the screen this weekend, however it fills the criteria of a long tail, etc. Also the chart has a great shape to it(channeling in uptrend, with higher highs and higher lows). I think it bodes well for Monday. I'm getting the feeling that the screens lack of available candidates is because the mkt is getting ahead of itself. I will also consider a re-entry of PCS, as long as it doesn't dip below 3.46(5% stop point if I was still in). As you've stated earlier,,,"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". I understand you have accumulated this list over time, however if you don't mind, could you post some of the stocks you would avoid and those that are your favorites. This would give myself and others some flags to keep a special eye on. If you would rather not provide that info, I understand. Dab |
| dabonenose 26 posts msg #26388 - Ignore dabonenose |
5/4/2003 11:33:41 AM Wallman,,,sorry, wanted to post the only stock I returned in my scan was PSO. I bumped vol down to 50K and price up to 15. When I bumped up the price I got 1 other stock, but it's chart looks weird to me and erratic(lots of gaps). Dab |
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