TheRumpledOne
6,411 posts
msg #99838
- Ignore TheRumpledOne
modified |
3/23/2011 6:00:39 PM
Use this filter to test stock(s) to see how well they perform over night.
This example shows how many times LNG move 10 cents or more over night during the last 100 days.
OVERXMIN tells you the worst case of the last 100 days. If this number is 60 or higher, you have a winner. I prefer 80 or higher.
As is, LNG did not make 10 cents or more at least 80 times. So I will drop the number down until OVERXMIN reaches 80 or higher. Now I have my TAKE PROFIT target.
If I buy 4000 shares and make $0.03 that's $120 gross. You should be able to "print" at least one $100 bill over night.
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Rick67
64 posts
msg #99843
- Ignore Rick67
modified |
3/23/2011 7:51:13 PM
Hmmm...
I may not know what I am looking at (or doing) yet...but...
I commented out the SYMLIST and got 10775 stocks. Then double clicked on OVERX.
WPO with Long_Profit > .50 looks good.
If I wanted to select the best stocks for this system, is the highest OVERX the column to use?
Thanks,
Rick
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TheRumpledOne
6,411 posts
msg #99856
- Ignore TheRumpledOne |
3/24/2011 6:36:41 PM
Best stocks for this system?
That is entirely up to to you!!
Share price, number of shares, profit per share, volume, etc... are all factored in when making a selection.
A $200 stock for you may not be "best" for the $5 stock trader.
I look at the OVERXMIN column to see the worst case for OVERX during the last 100 days. If this is 80 or higher, I will trade it.
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TheRumpledOne
6,411 posts
msg #99866
- Ignore TheRumpledOne
modified |
3/25/2011 9:04:51 AM
You should be able to find a stock in your price range.
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mahkoh
1,065 posts
msg #99886
- Ignore mahkoh
modified |
3/25/2011 5:48:35 PM
TRO I'm trying to get a grasp of this strategy. If I understand correctly you sell at the open if it gaps up and if it gaps down the odds are strongly in your favor that at some point during the day it will trade near your entry and you can exit at least at breakeven.
It might be an idea to have a column that tells you which of the candidates has the best record of gapping up since this is where you make your money. And another one, maybe even more important, in case the stock gaps down, at which point the odds are no longer in your favor that it will move back up to your entry point. This would be helpful in selecting the place for a stop-loss. The first column isn't that difficult, I could borrow that from your fading the gap filter, but the latter is a bigger challenge that goes beyond my coding skills. Do you think that can be done?
And if not, would you give us some insight on where you would want to place a stop-loss? (assuming you use one)
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TheRumpledOne
6,411 posts
msg #99914
- Ignore TheRumpledOne |
3/26/2011 3:46:48 PM
This filter has nothing to do with gaps.
Yes, if the stock gaps up, you will have a winner.
What this filter does is show you the winners from HIGH to previous close.
Look at the intraday chart of ROYL. You'll see if you bailed, you would have taken an unnecessary loss more than once.
One way to trade this is to buy at the close, put in your take profit limit order and then wait and see.
If you find yourself down at the end of the day, you can either take the loss, let it ride or buy another round to average down.
If you look at the display, you can see the current day profit and the previous 10 days. That should give you confidence to trade this method which was designed for those who can't day trade for whatever reason.
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TheRumpledOne
6,411 posts
msg #99915
- Ignore TheRumpledOne
modified |
3/26/2011 3:48:34 PM
You are right, you can use the code from my GAP STATISTICS filter to see the gap up frequency.
You can use the code from my TRAVEL filter to see how far the stocks travel from low to close or you can look at this:
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mahkoh
1,065 posts
msg #99920
- Ignore mahkoh
modified |
3/26/2011 6:23:32 PM
Maybe this modified fading the gap filter is indeed more suited to trade gaps overnight
The gapratio tells you how many times the stock gapped up for every gap down during the last 100 days. Filldnpct tells you your chances of getting out at breakeven in case it does gap down. If you want to be "market neutral" you can as well select a few with a low gapratio to short at the close. In that case Filluppcnt is the column to look at for your chances if it does gap up.
absgap- 6 weekhigh is also a column to watch, this is the highest gap during the last 30 days. A large gap up or down ofcourse will have an impact on your average gap column.
There's one thing I would like to adjust in this filter: The MA(absgap30) column shows the average gap in % during the last 30 days. This value however is the average value of gaps up and gaps down. I would like to have 2 seperate columns for the up and down gaps. If anyone has ideas on how to accomplish this I would appreciate it.
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TheRumpledOne
6,411 posts
msg #99955
- Ignore TheRumpledOne
modified |
3/28/2011 10:24:32 AM
200 * $0.50 = $100
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TheRumpledOne
6,411 posts
msg #99957
- Ignore TheRumpledOne |
3/28/2011 11:06:32 AM
Added the WStreakMAX and LStreakMAX columns to display the longest winning and losing streaks of the last 100 days.
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