rsarno
103 posts
msg #34880
- Ignore rsarno |
1/14/2005 6:46:44 AM
"TheRumpledOne: Study Wallman's WAIT FOR GREEN. Master that and you'll be rich."
Hope you dont mind i took this into its own thread, i felt it deserves it.
You can talk to wallman about a pop, a spike, a rebound, a pullback, an oversold status, regardless what you are talking about his answer always involves "wait for green"
I dont doubt his wisdom or his *eyes* for even a second, his 40+ years of trading experience should not be taken lightly. so im very confident there is some confidence to be placed in this method.
However i just cant understand "wait for green" for some reason! Everytime i see a stock doing what i think is "holding green" it turns out to be just testing resistance and then tanks soon after.
As well i was thinking that his method seams to find some big jumpers, so would it be wise to just run his filter on yesterdays close and see if it closed between 1%-3% green? wouldnt that be "holding green"?
I am at work durring day so cannot view a stock that turns green at 11am and then go look at candles or volume or anything ... i am pretty much stuck with EOD data, or premarket (premarket has not worked out for me and now im avoiding it)
thanks
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oldsmar52
104 posts
msg #34883
- Ignore oldsmar52 |
1/14/2005 10:35:52 AM
I work like you also so its just meaningless for me to try and understand lots of the details some of the people use since I can't be at a computer during the day, but I'll tell you what works best for me.
1) I only play triple matches that have an RSI(2) below .3
2) In the morning I put a limit buy on them anywhere from 3-6 cents below
yesterday's close. (Just a guess on my part, totally random...but I always
offer to buy today below yesterday's close.)
3) If I get them fine, if not wait till tomorrow for others.
Extremely simple but it works great for me. If you have any advice for me, I'm
always open.
Frank
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acervapsych
39 posts
msg #34891
- Ignore acervapsych |
1/14/2005 10:11:31 PM
I also work all day but, I do have a chance to look at the market between 6:30am to 7:00 am before I go to work. (Pacific Time). The night before I look for stocks below RSI(2) 4 and touching lower linear regression line. Then I look at the 3, and 6 month chart and the 1 year chart. Then I check for confirmation on the 5 day / 5min chart with a low RSI(2). In the morning I watch them for about 10 to 20 minutes. If they hold green then it’s pretty safe that they will stay green the rest of the day. Around 6:50am most stock will do a minor correction. That’s when I put in a limit order base on the real time intraday chart. After my order is filled, I set a tight stop.
My advice is to study 5 stocks and become familiar. In my case I only trade most of the time GE, CX, HD, DELL, AVP and sometime others. Good idea to have a trading plan. Good Luck!
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peaking67
22 posts
msg #45777
- Ignore peaking67 |
7/13/2006 2:27:05 PM
This is for oldsmar52;
Back in 1/14/2005 you wrote about a filter that "works best for me.
1. I only play triple matches that have an RS(2) below .3......."
Pls explain "triple matches".
Thnx, Sid
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four
5,087 posts
msg #127759
- Ignore four |
3/29/2016 9:07:50 PM
pop
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