tokyoseminole
2 posts
msg #44527
- Ignore tokyoseminole |
6/2/2006 5:44:10 AM
OK, I have looked at this forum lookin for the right RSI (2) to use, but there seems to be many variations, can someone post the right one for my style,
basically I am a short term trader (2-5 days) looking for stocks that are oversold and due for a TA bounce. I usually research stocks the night before and make a list of 10 that I want to focus on, then watch the 1st 1/2 hour of the open and buy 1 stock, then I leave it alone and continue to watch the technicals/candles after each close.. so far I am doing pretty well.. actually since I started using stockfetchers I am 3-0 ( CBAY, XSNX & CHTR, I am using multiple filters to make a watch list, but I am still looking to perfect my entry point, it seems I am always eithr to late or always afraid that stock will continue to drop as might entry could have been wrongly analyzed. Of course there is always risks, but I am trying to improve my system. Thanks
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TheRumpledOne
6,411 posts
msg #44552
- Ignore TheRumpledOne |
6/2/2006 8:51:42 PM
OK, I have looked at this forum lookin for the right RSI (2) to use, but there seems to be many variations, can someone post the right one for my style,
basically I am a short term trader (2-5 days) looking for stocks that are oversold and due for a TA bounce. I usually research stocks the night before and make a list of 10 that I want to focus on, then watch the 1st 1/2 hour of the open and buy 1 stock, then I leave it alone and continue to watch the technicals/candles after each close.. so far I am doing pretty well.. actually since I started using stockfetchers I am 3-0 ( CBAY, XSNX & CHTR, I am using multiple filters to make a watch list, but I am still looking to perfect my entry point, it seems I am always eithr to late or always afraid that stock will continue to drop as might entry could have been wrongly analyzed. Of course there is always risks, but I am trying to improve my system. Thanks
...............................................................................
RSI(2) < 1 is the core of all of the RSI(2) filters.
Add
60 day slope of the close above 0
and you have uptrending stocks that are at/near the bottom.
Add your own price/volume criteria.
That ends the SELECTION phase.
The next part is TRADING - entry/exit.
Since you are trading at the open keep 2 things in mind:
1) Fade the gap
2) If you are going long, make sure the price is above the previous day's close and/or previous day's midpoint (high + low)/2.
Those are RULES OF THUMB.
Remember, stock prices either:
1) go up
2) go down
3) stay the same.
No reason to fear #2 unless you also fear #1 and #3.
Don't think of trading in terms of right/wrong or mistakes, instead think of what happens as events. Sometimes you make profitable decisions and sometimes you don't, it is that simple.
The only mistake would be NOT following your own rules, plans, tactics, etc.
HTH.
MAY ALL YOUR FILLS BE COMPLETE.
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luc1grunt
622 posts
msg #44554
- Ignore luc1grunt |
6/2/2006 8:54:04 PM
Well spoken Avery
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as214
184 posts
msg #44565
- Ignore as214 |
6/3/2006 1:35:03 AM
Add "and price is 3 percent or greater beneath DMA(28,-14) and watch the sea of green and the percentages increase on an offset. Ive said it before and Ill say it again ..." Combining RSI2 with DMA 28,-14 is the most powerful and deadly combo Ive ever seen before. Unbelievable..
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TheRumpledOne
6,411 posts
msg #44569
- Ignore TheRumpledOne
modified |
6/3/2006 12:48:19 PM
Add a Bell and a Whistle:
The RDcount column tells you how many times during the last 5 days RSI(2) WAS < 1 AND price WAS 3 percent or greater below DMA(28,-14).
as214, is that what you had in mind?
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tokyoseminole
2 posts
msg #44574
- Ignore tokyoseminole |
6/3/2006 8:25:26 PM
thank you all for spending the time on this, I will give a try.. this board has some very high level knowledge, I really glad I joined.
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TheRumpledOne
6,411 posts
msg #46810
- Ignore TheRumpledOne |
9/9/2006 3:29:26 PM
Pop to the Top
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tmaugham
115 posts
msg #48438
- Ignore tmaugham |
12/7/2006 1:26:05 PM
pop
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traderblues
195 posts
msg #48452
- Ignore traderblues |
12/7/2006 9:02:21 PM
Add 1 more parameter:
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TheRumpledOne
6,411 posts
msg #48461
- Ignore TheRumpledOne
modified |
12/8/2006 10:52:33 AM
Thought you might like to know how many days CCI(50) has been above 0 and the TREND of the CCI(50).
HTH.
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