Railwhore
69 posts
msg #52038
- Ignore Railwhore |
6/7/2007 3:24:45 AM
While this filter is nice, if you are going to use this filter you need to pick with extreme caution. For example, shorting aapl from this filter would be absolute suicide. For newbs: indicators follow price! So many forget this simple rule.
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TheRumpledOne
6,411 posts
msg #52084
- Ignore TheRumpledOne |
6/8/2007 2:17:26 PM
Well, it's not the filter to blame if you shorted AAPL.
If an instrument is making HIGHER LOWS, then it's going up.
You need a FLAT TOP, LOWER LOWS, LOWER HIGHS, etc.. to trigger a short, right?
"IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!"
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nikoschopen
2,824 posts
msg #52085
- Ignore nikoschopen |
6/8/2007 3:27:26 PM
Or, better yet, here's another cliché:
It doesn't matter how you get to your chosen destination as long as you get there, period.
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zhanglini
9 posts
msg #53702
- Ignore zhanglini
modified |
7/31/2007 12:51:37 PM
This is a weird filter, some times it is good LONG, sometimes it is a good SHORT.
See below my back testing:
Period Trades RW WL ROI Per Trade
02~03 long 35 1.69 2.09 49% 2.66%
04~05 short 50 2.57 2.72 59% 3.48%
06~0707 long 51 1.55 1.55 29% 1.81%
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danglin
37 posts
msg #53717
- Ignore danglin |
7/31/2007 6:19:35 PM
You have to be careful with this filter. Stocks selected may be on a longer upswing. Try this instead:
SET{VO%, ATR(10)/ EMA(10)}
and show stocks where WEEKLY RSI(2) ABOVE 99.7
and RSI(2) above 90
AND AVERAGE VOLUME > 100000
AND CLOSE ABOVE 5
AND ADD COLUMN WEEKLY RSI(2)
AND ADD COLUMN RSI(2)
AND ADD COLUMN VO%
AND ADD COLUMN ATR(10)
AND ADD COLUMN EMA(10)
sort column 5 descending
"RSI(2) above 90" Works for me i.e. Use Weekly RSI(2) > 99.7 AND current RSI(2) > 90. Whne both of these clash above 90 it's time to take a short trip south. You can scalp with this filter for short term puts if you want to trade options.
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nikoschopen
2,824 posts
msg #53720
- Ignore nikoschopen |
7/31/2007 8:03:01 PM
If a rising tide can lift all boats, what would happen once the surf becomes turbulent? In this environment, you don't need a particular filter since just about every stock will be affected. What is required, on the other hand, is a meticulous timing and that can only be learned with experience.
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