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General Discussion · "Wait for Green" Support and Resistance
alichambers
msg #50810
4/2/2007 1:07:48 PM

Hi,

I remember reading a TRO post in 2005 which said the following:

=========
I adapted WAIT FOR GREEN to the 60 minute chart and/or 15 minute chart. If the previous candle is RED, you set a BUY STOP at the previous candle's closing price + .01. You do NOT try to buy at the bottom, you wait for green.

Couple this entry strategy with 60 minute rsi(2) < 1 and you can rake it in, especially on stocks like GOOG and SHLD.

On other thing to point out is to know the support/resistance numbers for the stock you are trading... you don't want to enter right below resistance! So sometimes your entry may be a penny or 2 higher.
=========

I have two questions about this:

1. How do you calculate the support/resistance numbers?

2. How does RSI(2)<1 work and how do I apply it?

Many thanks,
Alex

General Discussion · "Wait for Green" Support and Resistance
alichambers
msg #50824
modified
4/3/2007 4:09:29 AM

Thanks.

So assuming I am not hitting the support/resistance lines, do you use the close or open of the previous candle as entry points?


General Discussion · "Wait for Green" Support and Resistance
alichambers
msg #50854
4/4/2007 10:25:50 AM

Thanks all. A great help.

With ref to TRO's last thread about "Close" ... now I'm thinking about it, it would have to be the close and not the open, because as the price transitions from one candle to the next, it will always be around the previous close!!! I obviously wasn't thinking before posting. :)


General Discussion · "Wait for Green" Support and Resistance
alichambers
msg #50859
4/4/2007 1:31:14 PM

Actually TRO - another quick question.

Does 60min RSI refer to the 60mins just passed (ie. ending when the last 60min candle ends), or ongoing into the current 60min session?

AC

Filter Exchange · $2-3 gain every 2 to 3 weeks
alichambers
msg #43030
4/17/2006 7:23:23 PM

Hi,

I'm new to SF and have been having a look round the forums. I think I have become a little lost.

I've been looking at money management plans and have come up with one that would give nice profits if I could hit a couple of stocks that make $3 gain in 2 weeks or so. I live in the UK and have the advantage of being able to spread bet on US stocks. It's tax free!

I'm looking for a filter that would:

1. Trade stocks with a market cap > $1billion (I already have this)
2. Daily volume > 100,000 (I already have this)
3. Have a good chance of gaining $2-$3 in 2 weeks

The problem is with 3). I appreciate no-one can predict the future, but if anyone has a filter that is fairly reliable in this area, I'd be really grateful.

Many thanks,
Alex Chambers


General Discussion · A good system for trending stocks
alichambers
msg #44079
5/23/2006 6:46:55 AM

Hi,

I've been experimenting with Wilders SAR and DMI for entry points into a trending stock. I've noticed that EOD stocks such as GOOG trade very well with this technique. I haven't any formal data - I've just been making manual observations.

I basically wait for the SAR to change direction, then confirm the direction with the DI lines (DI lengths 4 and 14 work well) - ie. if SAR indicates GO LONG, don't go long if +DI line is below -DI line, and vice-versa.

I use an EOD low trailing stop strategy, with a stop-space % added to knock out some volatility. I'm writing a computer programme to find optimal DMI settings against trailing stops and all stop space percentages. I don't own Tradestation, etc but am pretty handy with Visual Basic - and you can download all price data free from Yahoo to use for testing.

However, how does one find nicely trending stocks such as GOOG to trade? GOOG has moved:

$475 - $350 from Jan - Feb 06
then up to $400 and back
then up to $450 and back again

... ie. it TRENDS well (sorry for shouting).

The DMI/SAR system works really well in trending stocks.

Can anyone suggest a SF scan to look for stocks going up and down and trending nicely like this every month or so. I can then apply my system.

Thanks,
Alex


General Discussion · A good system for trending stocks
alichambers
msg #44785
6/9/2006 6:26:00 AM

It looks like an interesting system. Have you backtested it on others - what sort of ROI?

I spreadbet in the UK and I've love to trade GOOG. However, it is such a high priced stock that trading it would violate my 5% money management principle - very often the initial stop can be 1000 points below the buy price.

Alex



General Discussion · Anyone know a broker who allows orders to sell on market close?
alichambers
msg #46675
8/30/2006 10:18:15 AM

Hi,

The thread title says it all - does anyone know a broker who allows orders to sell on market close? I'd like to put an order in out of hours for the next day's open, then have it automatically close at that day's close price.

If anyone knows of a spread betting company that does this, that would be even better!

Cheers,
Alex


General Discussion · anyone successfully trade Forex?
alichambers
msg #43260
4/28/2006 6:34:14 AM

I agree - Forex is well behaved. I've been making the transition from stocks to Forex for the following reasons:

- It trends well
- Low margin requirements
- Very liquid
- Difficult to be manipulated
- It's highly leveraged
- Stocks are prone to unpredictable movements - up and down. Good if you catch them, not so good if not

I live in the UK and the spread betting margin for forex is low. For example, one point of gain in GBP:USD is 0.0001! Betting 3 per point of movement (conservative; you can bet up to 99) can yield some nice returns.

However, this is the main reason I have gone into Forex:

YOU CAN BACKTEST YOUR STRATEGY
(sorry for shouting there)

The penny dropped recently. Instead of randomly picking stocks that I "thought" may go up or down, I can now run a utility I have written on the Forex to buy and sell according to my strategy and see how much money I make over a period of time. This eliminates a lot of guesswork from the game. If a currency doesn't yield profitable results over 5-10 years, THEN I DITCH IT. Sure - I lose a bit during whipsaws, but I can cut those down with stop losses.

I'm working on a simple moving average entry/exit strategy. Initial tests show a very nice gain. And I'm always 100% in the market - either long or short, depending on the moving average signals.

I'll keep ya'll posted.

Alex

PS- TheRumpledOne: Which fib levels do you use?


General Discussion · anyone successfully trade Forex?
alichambers
msg #43298
4/29/2006 6:38:45 AM

TheRumpledOne: Thanks

I use spread betting, and this is betting. I don't buy the underlying Forex, but place a bet as to which direction the currency will move. It's only available in the UK and is 100% TAX FREE (it's classed as gambling)! You can also spread bet on stocks which meet the following criterea:

- UK: Market Cap > 50m
- US: Market Cap > $1b

It's much more leveraged than the currency itself, so I prefer it.

How do you use Fib levels - wait for a retracement to a fib level then buy as the price bounces off?

And do you have any details of the Tunnel Method with an ema(34) filter?

Alex



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