duggils
2 posts
msg #58386
- Ignore duggils |
12/21/2007 12:38:37 PM
TRO or anyone else-
I am an active trader but not a day trader. I am fairly new to this site and have been reading a lot about RSI(2).
Could you please help me build THE BEST bottom fishing filter based on RSI(2) for swing trading the long side. What other indicators should be added to an RSI(2) based filter to narrow the list and improve performance. I have searched these forums but haven't been able find what I like.
Thanks in advance for your help.
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joerollo
6 posts
msg #58387
- Ignore joerollo |
12/21/2007 1:15:03 PM
I am fairly new (but have had a couple very good months with this). Try adding trading above 200 day moving average into the mix, it helps alot. I also run one with above 50 & 200 and it is even better (although less ideas).
Still trying to make it better with an exit strategy so I am very interested in this thread.
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duggils
2 posts
msg #58389
- Ignore duggils |
12/21/2007 1:27:20 PM
joerollo-
What is your rest of the selection criteria? RSI(2) below certain level? Anything else beside "trading above 200dma" ?
Are you a swing/intermediate trader?
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joerollo
6 posts
msg #58390
- Ignore joerollo
modified |
12/21/2007 2:13:39 PM
I am reluctant to post as I am relatively new to "swing trading" and trying to fine tune my process. I appreciate everyones posts here.
I am trading long as RS(2) gets between 0.5 and 2.5. I don't have an exit strategy yet, but in my mind I wait for RS(2) to approach 75 and pull the trigger when I feel it is right (I REALLY NEED TO HAVE A BETTER PLAN FOR EXIT). I shoot to hold stock 3-6 days as this seems the sweet spot for ROI.
I also only trade stock over $10 and a PE between 5-50 (I guess I can not completely get 100% away from fundamentals, maybe it is for comfort.) and average volume > 30,000 (although I like higher volumes better).
Also trading above the 200 day moving average (or some other one you see fit) seems very important in my backtesting.
I have a few trades that didn't work and would like to study them to see if there is a pattern for some other criteria to add.
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welliott111
98 posts
msg #58394
- Ignore welliott111 |
12/21/2007 3:53:03 PM
http://forums.stockfetcher.com/sfforums/?q=view&tid=29221&start=0
Copy/Paste the above address and read the whole thread, lots of info.
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joerollo
6 posts
msg #58398
- Ignore joerollo |
12/21/2007 4:20:55 PM
Awesome thread, thanks for pulling up the CLASSIC!
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TheRumpledOne
6,411 posts
msg #58408
- Ignore TheRumpledOne
modified |
12/21/2007 9:42:08 PM
Column rr tells you if it is a 5, 13, 26, 50 or 200 day lowest rsi(2).
Column ma50 = 1 when close above ma(50)
Column ma200 = 1 when close above ma(200)
You don't need any other indicators.
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TheRumpledOne
6,411 posts
msg #62666
- Ignore TheRumpledOne |
5/15/2008 6:42:08 PM
pop
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