| StockFetcher Forums · Filter Exchange · bollinger bands | << 1 ... 7 8 9 10 11 ... 23 >>Post Follow-up |
| seweiss 2 posts msg #26457 - Ignore seweiss |
5/9/2003 12:46:03 PM Wallman, Thanks for your reply to my last email. After doing a bit of research it seems like trying to use the other indicators (Williams etc.) really does not buy you much for buy signals. I will try to use the visual method as you describe it. A couple of additional questions that I don't think you covered previously: 1) Do you change stops from 5 to 3% with a price close above middle BB or just a touch of the middle BB by the price but not closing above it? For upper BB, would you ever sell a stock with a touch on the upper BB but close below it rather than a close over the BB which you then would sell the next morning if it met other conditions (RSI above 74 etc.)? 2) I am new to buying small volume stocks. Do you use limit buy orders or market orders? I tried to buy OATS today within an hour of the open but my buy limit never go triggered even though I set it a couple of pennies above the last price. Now OATS is back in my range but it is after an hour from the open of the market. Do you still go after a stock if it returns to your buy range later in the day? |
| wallman 299 posts msg #26459 - Ignore wallman |
5/9/2003 2:16:24 PM HI SEWEISS, i have tried fooling around with indicators in the past with bb method,i always return to the simple,basic filter with no indicators,same thing happened every time,using them just kept me out of big winners time and again,while NOT reducing the risk at all,so for the last 9 months i have left it alone trading just that basic filter,takes me less than 10 mins a night,50 mins a week, to get the matches and chart em,for me this is great......i tighten the stop to 3% when it CLOSES ABOVE mid bb,never a touch,....i will always sell next morning on a TOUCH of upper bb if the stock is 75 or higher rsi(unless it opens green whereas i will hold until/if i see red).....i always use market orders because of just what you described happened to you with OATS,and yes i would go after any stock at any time during the day as long as it was in my buy range,the reason for myself to put an hour limit on buying a stock is that it lets me break away from the computer as i've been trading for so long that i just want to go do something else,i'm sorry if i didn't explain that in a past post......please post if you have anymore ?'s......see ya |
| wallman 299 posts msg #26461 - Ignore wallman |
5/9/2003 2:49:47 PM HI SEWEISS,another thing i wanted to point out was after/if you start to build up your acct i don't think that entries are that critical that have to watch every "nickel and dime" as long as they are on green and not gapped up too far,say above 3% from previous close,to prove that point to myself i started a port on clearstation.com of every match of the filter,entering pre-market with no regards to entry price or even if they were on green,go to my post on 5-2 8:25 to see how you can view it,starting in the closed position with the stock OPTN and going upwards into the open positions there are 58 picks of filter matches,51 of which are gains, 88% entering blindly,so once your ahead and get confidence in the system and yourself it doesn't look like it's worth fretting over pennies......MUDDY |
| no4j 45 posts msg #26481 - Ignore no4j |
5/12/2003 8:45:05 AM Wallman....I'm still using your system with great success. Thank you very much. I have one more question, though. The object here is short term profits. If you have a stock that climbs above the certer BB line, you move the stop to 3%. What if that stock straight-lines and never gets stopped out but also never wants to get the RSI up to 75? How long will you keep looking at it before you dump it? Or does it ever really get like that? If a stock get to be 15 days old or so, I would think you would want to take your profit and move on. Wachuthink? |
| defghca 150 posts msg #26482 - Ignore defghca |
5/12/2003 10:40:37 AM wallman what do you say we start bollinger band (1) the sequel; this is getting to be quite a long post |
| wallman 299 posts msg #26483 - Ignore wallman |
5/12/2003 10:42:38 AM HI NO,glad to hear your having great success with it,from some emails iv'e gotten from others you are not alone so this is good to hear,the object is short term profits but as long as price or rsi doesn't stop you out you should let em run,yes some do straight line to 75,as i've said before when price does reach 75 rsi,hold till next open and look for green,if yes hold and watch,if closes green,repeat next day,it's possible to get another 5% or much more out of the trade,i backtested the filter last night and it seems to be stronger than ever i.e. stocks seem to be gaining even after 30 days up to 40 whereas in the past it seemed to be about 10 days less than that figure,my only advice to you regarding lenght of hold is to just let price or rsi dictate when to sell,as you get more accustomed to the method i'm sure that you will come up with your own way of taking profits,this is great as eveyone's situation is different.........wish you continued success,MUDDY |
| gruender 101 posts msg #26491 - Ignore gruender |
5/12/2003 9:03:12 PM Muddy, do you have any suggestions regarding the use of your filter during periods when the market is trending down? When I use your filter and look at weekly results using the SF back tester between mid Jan to Mid Mar 03, I got mostly negative returns over the weekly (5 day) periods, yet when I back test your filter during an up trending market, I got excellent results over the weekly (5 Day) periods. Do you recommend that we don't use your filter during down trending markets or is there some other adjustments you make during the down trending periods? Thanks, Joe |
| wallman 299 posts msg #26492 - Ignore wallman |
5/12/2003 10:15:16 PM HI JOE,that's a great ?,i'm glad you brought that up.....you're right, that period from mid jan to beginning of march will show mostly negetive weekly(5 day)returns but the catch here is as i remember it,is very, very few of them were actual plays as the market was so bad nothing opened green,thus the safety net,in fact the gainers that you do see WERE the only ones to open green,thus my win % was in fact pretty close to any other time during the 19 months,for example if the filter gave 10 matches for a certain day and only 2 were gainers for the week you would be inclined to say you would have gotten smoked that week,but that's not necessaraly true because in fact those 2 gainers were the only 2 plays you should have made under the bb methods entry rule of seeing green,the other 8 opened down and were simply throwouts,2 things i would caution against in a bad trending market is trying to see the stocks trend before the close,as discussed on posts regarding 2:30 realtime filters,then entering before the close(just me, but i would rather wait for the open even in a good market)and also i would leave the volume set to 100000,do not bump down the volume because the lower the volume on a stock the more the market makers can play with it i.e if your looking to sell a stock which is quoted at $5 ,in a bad market the mm's know you want to get out BAD,they will set the bid at like $4.60,that's real bad,on a higher volume stock that's ticking every 30 seconds or so it's much harder for them to manipulate the price as it is with one that is just sitting there not trading for 5 or 10 minutes, there is one other thing i noticed about trading these stocks in a weaker market and that is that the lower priced ones under $5 do not seem to get hit nearly as hard as the over $5 stocks on some of those real bad down days,the reason probably is that the shorting of under $5 stocks is not allowed,so shorts must look elsewhere for their victims........ if i can answer anymore ?'s regarding this time period you mention please feel free to ask.........MUDDY |
| ddsmith2 10 posts msg #26555 - Ignore ddsmith2 |
5/19/2003 5:25:52 PM Wallman, On entering a trade, some of the posts say you look for green at open and then place trades around 9:50. Do you ever take you positions before 9:50 or do you always wait. Also if a stock started in green but has moved out of the green by 9:50, do you hold off on that play? Thanks |
| wallman 299 posts msg #26558 - Ignore wallman |
5/19/2003 7:58:32 PM HI DD, i was waiting to enter till 9:50 up until about 5 weeks ago when i started to enter at 9:45 cause the method seemed so hot,in the past 2 weeks i have even entered at 9:40 on the matches that have really good bottom shadows and large volume increases,it has worked out fine, so for now i will continue as such,if a match starts out green but moves out of the green by my entry time i will wait to see if it goes back to green and holds it for about 5 mins and i will then buy it no matter what time of day.....good luck |
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