marine2
963 posts
msg #34993
- Ignore marine2 |
1/28/2005 12:41:55 AM
Try this filter out forum members. It looks simple but it's effective. Here it is:
show stock having MA(50) increasing previous 120 days
and price is below MA(50) previous 1 day
and price is increasing previous 1 day
and slow stochastic %D is below 25
and date offset is 63
It's a momentum play. A stock that has run up in a consistant manner then pauses to refresh itself before continueing its journey upward. Tell me what you think. If you think you can tweek it a tad sure show us what's on your mind.
Marine2
|
jpistell
123 posts
msg #34998
- Ignore jpistell |
1/29/2005 8:36:24 AM
Marine2,
Thats a tasty little filter. It buys weakness in an established uptrend. Smart. The worlds best filters sell strength (rather than sell stop) I pasted in a "Take Profits" line that came from one of my filters. It gives you a visual line to put a limit order in at.
G'Luck,
Trader Joe
|
marine2
963 posts
msg #35004
- Ignore marine2 |
1/30/2005 3:53:38 PM
Thanks jpistell in taking the time to look at this cute nifty filter and adding your touch to it too. Simple filters like this can be quite rewarding.
I do think by tweeking the MA situation could perhaps create more excitement, not sure but the door of opportunity is certainly wide open in this regard. Creativity off a base filter like this could make it even better?
If I find more tweeks to this one I will continue to post it within this thread.
Again thanks for looking at it.
Marine2
|
jpistell
123 posts
msg #35009
- Ignore jpistell |
1/30/2005 7:20:56 PM
Marine2,
Filters are like golf clubs. You need to see the environment you're in then find the club(read: filter) that will work best. Not one club it the right tool for every shot.
Filters fall into and out of "phase" of the market. You're filter works well because it waits and waits and waits. Should the market roll over (ala a multi-month rout) Your win/loss ratio will go in the toilet. On the flip side, in a strong bull run market, your filter will miss a million other trades while it waits and waits and waits.
As an example, in a mini-bear market, lets say you use the 50ma, and, after a 8 week bear market, maybe the 200ma is now the magic line (because all the 50's are headed lower) --->AND, because the bulls are weak, the dips aren't V shaped for the stochastics to nail it easily.
Filter writing is is exploring the vast amounts of variables.
G'Luck,
Trader Joe
|
marine2
963 posts
msg #35016
- Ignore marine2 |
1/30/2005 10:04:28 PM
jpistell
Yes, I understand what your saying. Your golf club analogy is very pertinent in our stock filter creating. Which is why I currently have 99 other filters made up to cover every situation possible either when the market is flourishing,and when the market is sliding to the downside, or when it's tanking.
This is just another example of how many variables we must cover to be on top of this ever changing market.
Since I belong to a major brokerage house to which they have screens covering approximately 12 different scenario situations. They cover the fundamental aspect of stock picking and not technical analysis. What those screens find will be fundamentally sound candidates for me to then run through my "Technical Combine". This "Technical Combine" is my 100 filters I have created to find any those screened fundamentally sound stocks caught in one of my filters for buying. Yes, it's always much better to wait until the market is happy and going up to play the game. But sometimes, even if the market is souring, if you have the right type of filter, you can still find a "diamond in the rough".
I use Clearstations market watch section to grab the different market graphs and do a intraday check on each of them. If either the NYSE or the NASDQ shows its time to buy stocks (when I look at the key conditions I have asked the graph to give me) then its green light time.
As you can see, my way might not be someone elses way but to each his own as they say. It works for me so far and thats what is important.
Happy investing and thanks very much for your input.
Marine2
|
jpistell
123 posts
msg #35021
- Ignore jpistell |
1/31/2005 2:17:25 PM
Marine2,
I like what you got goin' on.
I've never been smart enough to limit my TA scans thru a fundemental filtering 1st. Thats "win-win" thinking. I use to work with Loius Navalier's picks, but they were almost all high RS picks.
G'Luck,
Trader Joe
|