| StockFetcher Forums · Filter Exchange · bollinger bands | << 1 ... 7 8 9 10 11 ... 23 >>Post Follow-up |
| wallman 299 posts msg #26441 - Ignore wallman |
5/8/2003 11:52:29 AM HI SEWEISS,thanks and you are welcome...i have never tried MFI or OBV,but like yourself i have also read that in combination with RSI it will give you 3 differrent ways to measure data,i've never drifted from the basic filter from day one as it has continued to give me fantastic returns,really more than i could ever hope for,but that's just myself so if you feel that adding these indicators could improve performance you should give em a try......i don't use RSI for a buy signal because i know from past experiance with bottom bb's that many times a stock will be in the mid to upper 30's and still bounce off bb's real nice,so i don't want to miss out on those large gains that a RSI would probably do,i just try to keep it simple,and let the tail,volume increase and entry on green act as my safety net,one suggestion if you want to try an RSI of 30 would be to try a WILLIAMS %r -90 to -100 in it's place as a buy indicator as i have talked to an individual who has used both at bottom bb's and has found the williams to be more reliable,i use a RSI at the top to sell because i know from past experiance these stocks often pull back at 75 for awhile,if you are thinking of using say a williams -10 as a sell i wouldn't recommend it,it stops your run at midpoint way too many times,look at TIVO on 4-11,a rsi of 32 which would have keep you out of a 53% gain in just 17 days as compared to a williams -91 which would have put you in,again TIVO on 4-11 if you were in, the williams has you selling at the beginning of the rally with a -2,with an rsi as a sell indicator it's only a 59 giving you plenty of room to run to that 75,that's huge difference on just one stock,imagine over the course of a year.....as always,good luck |
| petrolpeter 439 posts msg #26443 - Ignore petrolpeter |
5/8/2003 12:47:44 PM I just got a surprise Wallman when some of the stocks from the 'Price touches bottom BB scan'start turning up they enter the 'RSI(5) crossed above 25' or the 'W%R(27) crossed above -90'scans I have posted below.The very next day actually.I concidered these my lowest entry scans until I saw yours.Here are some symbols from those scans that rose similar to the BB scan but did not quite touch the lower BB.CYPB,CDIS,VIRL,ANEN,FCGI,IO,going back 6 days or so.Im' starting to see stocks begin at your BB scan and go through the RSI and %R scans all the way to RSI 75 sell signal,thats cool.Some of us are not as good at precise trading entries and safty nets as you are Wallman ,I know Im' not and these two 'next step' scans help with conformation of the uptrend.Pete |
| wallman 299 posts msg #26445 - Ignore wallman |
5/8/2003 3:56:46 PM HI PETRO i think you have come up with a great idea there,especialy for people newer at this,i've been following this method for 19 months,so naturally i should be a little better than someone new to this as to entries and safty nets as you state,in time if you stay with it you'll have it down too,in the meantime while you are learning to get comfortable with it your way should prove very profitable,after all when you see the gains that this method is capable of,does it really matter if you enter one day later at a conformation that you are comfortable with,it doesn't .....neat how they run right through those scans from bottom bb to 75,huh,keep looking and you'll see it all the time,thanks for the symbols,i'll check em out ........please post with what you find out in regards to your "next step" scans,could really help out the newer folks.......HAVE FUN |
| AntNet 36 posts msg #26452 - Ignore AntNet |
5/9/2003 12:41:08 AM Hi Muddy, Did you get the e-mail re: your method? Bert. |
| wallman 299 posts msg #26453 - Ignore wallman |
5/9/2003 6:17:15 AM HI BERT,YES,i got the email,you did a SUPER job,looks like you know the system better than i do!!.....i will email you this p.m. regarding changes and add-ons.......THANKS FOR A GREAT JOB........MUDDY |
| 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 |
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