bankwalker
30 posts
msg #86525
- Ignore bankwalker |
1/18/2010 8:04:05 PM
If a watchlist is created with pairs of short/long etfs (bgz/bgu. fas/faz, etc.) this method should have trades occuring in strong bear markets also as about half should be above their MA(200) at any given time.
|
miketranz
961 posts
msg #86526
- Ignore miketranz |
1/18/2010 8:18:11 PM
Larry Connors a good salesman...
|
BarTune1
441 posts
msg #86527
- Ignore BarTune1 |
1/18/2010 8:21:08 PM
Hell Mike, I just knew you had to get in there .... especially the talk of using no stops .... must be driving you crazy ....
|
miketranz
961 posts
msg #86532
- Ignore miketranz |
1/18/2010 9:51:43 PM
BT,I just couldn't help myself.Trading with no stops? Who does he think he is,Warren Buffet?
|
chetron
2,817 posts
msg #86543
- Ignore chetron |
1/19/2010 7:08:30 AM
EXITING WHEN THE RSI CROSS 70 IS ALL WELL AND GOOD, IF YOU ARE WATCHING THE SCREEN, BECAUSE IT MIGHT HAPPEN DURING THE DAY AND THEN GO BACK DOWN. IS THERE A WAY TO FIGURE WHAT THE PRICE NEEDS TO BE TO TRIGGER THE RSI AT 70 SO YOU CAN SET IT FOR YOUR PROFIT STOP?
|
BarTune1
441 posts
msg #86544
- Ignore BarTune1 |
1/19/2010 8:18:34 AM
Yeah, you can estimate it Chet. However, the actual exit strategies are to exit end of day after a cross of the RSI(70) or MA(5).
And, I can tell you from successfully playing this system hundreds of times, you don't want to get out exactly at those points. You would really hurt your overall results by doing so.
As I have said to Keven before, in actual fact, many times when these ETFs of Stocks cross that line, they do it "violently" and you get a hell of a lot better price than the RSI(70) or MA(5) alone. Vice versa on shorts.
When I cant be by my computer, I often set sell orders at the previous days close MA(5) + 3% for stocks and a smaller % for ETFs depending upon whether you are using single, double or triple leveraged ones. These orders have triggered many many times.
|
chetron
2,817 posts
msg #86545
- Ignore chetron |
1/19/2010 8:36:30 AM
THANX, BarTune1
|
drew9
171 posts
msg #86551
- Ignore drew9 |
1/19/2010 9:33:25 AM
After reviewing hundreds of ETF charts, I believe it is beneficial in most cases to exit the following morning after a crossing RSI(2) at 70. When a stock gains momentum, it tends to gap up in the morning and there seems to be some additional gains by doing this than at the previous close.
|
Kevin_in_GA
4,599 posts
msg #86554
- Ignore Kevin_in_GA |
1/19/2010 9:42:54 AM
Bartune:
Posting early today I see. I thought you would like this thread topic.
Connors VIX-based strategy might be a better play than this one. This, however, is the basis for a lot of Connors celebrity, and I just wanted to see how well it played out in backtesting.
Guess I'll set up a similar test on that one this week.
|
chetron
2,817 posts
msg #86562
- Ignore chetron
modified |
1/19/2010 10:06:25 AM
THANX, drew9
but is it any good for shorting??????????
IF YOU REALLY WANT......
macbull's twist....
DO YOU LIKE THIS??????
|