trosen128
8 posts
msg #115709
- Ignore trosen128 |
10/6/2013 12:57:52 PM
Hi, does anyone have a screen that could scan for stocks that have dipped below a positive sloping 20/21 MA and have created a green candle? Here's a video for a better description...
http://www.youtube.com/watch?v=MPCmKGSfHas
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four
5,087 posts
msg #115710
- Ignore four
modified |
10/6/2013 3:28:55 PM
Sounds good to have an 80% or better situation. However, the presenter doesn't identify returns (percentage). Doesn't identify stop-loss or profit taking. Doesn't identify draw downs. He doesn't say what his returns are using this strategy. More candy...
Kevin does a much better job with his systems.
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Kevin_in_GA
4,599 posts
msg #115716
- Ignore Kevin_in_GA |
10/7/2013 8:18:25 AM
Just watched this - honestly, this is not a system but rather an opinion about how to "buy a dip". Nothing said about returns or how to exit. This is classic CNBC - buy, buy, buy. They never talk about exiting a trade, only entering one.
Four's opinion about my system development aside (but thanks, dude), you really need to have a solid entry AND exit strategy in place, and backtest it for at least 5 years through a series of different markets - I tend to use the 10 year period from 1999-2010 since this contained both strong bull and strong bear markets.
And for God's sake stop watching CNBC - worst thing a trader can do.
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miketranz
961 posts
msg #115725
- Ignore miketranz |
10/7/2013 1:32:18 PM
I agree with Kevin,turn of the talking heads.You may want to look at this pullback filter:Price is between .50 and 12
High reached a new 6 month high 3 days ago
Price below high 6 month high last 2 days
Average Volume(30) is above 1000000
draw rsi (3)
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