four
5,087 posts
msg #101874
- Ignore four |
7/29/2011 10:29:21 PM
reference: http://www.rockwelltrading.com/day-trading/members/free-content/video-1-the-three-best-indicators/
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csupati
25 posts
msg #101878
- Ignore csupati |
7/30/2011 7:22:02 AM
four
You may be good, but you never provide any explanation, so your posts are completely useless, at least for me.
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duke56468
683 posts
msg #101879
- Ignore duke56468 |
7/30/2011 8:48:37 AM
He did give you a very COMPLETE explanation of the filter. Thanks four.
http://www.rockwelltrading.com/day-trading/members/free-content/video-1-the-three-best-indicators/
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four
5,087 posts
msg #101881
- Ignore four
modified |
7/30/2011 12:46:00 PM
TO: csupati
IMPORTANT: use my posted filter for the below explanation. DO NOT USE Rockwell -- I didn't.
EXAMPLE: Go back to Thursday, May 26, 2011 and look at symbol BIG. The first show was on May 19. It took 7 days to hit the "corner". All of our attempts at a buy fail initially because of the High + .05 buy requirement.
This is the "perfect" picture (May 26). We hit the "corner" that occurs that day in RSI(7). BUY: 31.83 + .05 is the limit for the next day.
Some may wait until the first instance of "RSI(7) > RSI(7) 1 day ago". To each their own.
We catch MACD(2,3,1) below 0 and let the others get-on-board and we ride higher. Perhaps we take our sell when "MACD(2,3,1) > 0".
The Rockwell video is where I started my thought process and then I started working my own thoughts. Someone might wish to implement his criteria and requirements for Stockfetcher.
As I have said before I usually buy the High + .05 or .03. I have difficulty with the "getting out of the trade part" and yet have patience waiting for the buy to occur. My filters are sometimes "early" perhaps some would DCA down.
Watch your stops and profits. I backtest visually (keep offsetting the date). Feel free to back test the filters using YOUR criteria and requirements.
--- Second Example ---
April 18, 2011 : CRUS
Show occurs one day early (April 18). Buy would occur next day when MACD(2,3,1) and (in this case) RSI(7) are greater than previous day.
15.65 + .05 = 15.70 buy limit for next day.
--- Third Example ---
April 25, 2011 : LPS
The "corner" in RSI(7) occurs. But with High + .05 for a buy, it never buys. However, April 27 would set-up for the buy on April 28. Greater risk because MACD(2,3,1) > 0 ? ???? It depends on your style of trading. 20/20 hindsight -- we saw a nice profit.
HTH
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wkloss
231 posts
msg #101882
- Ignore wkloss |
7/30/2011 1:31:33 PM
csupati
Some time back I expressed the same concern about Four's filters. There is something you should consider.
When someone asks for help with a filter, Four is one of a select few who quickly provide help.
Four and those others should be thanked.
Bill
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csupati
25 posts
msg #101892
- Ignore csupati |
7/31/2011 12:20:36 AM
Yes, you are right. I also really appreciate Four's help in filter creation. This is an undoubted fact. From the other hand, I like to understand the logic behind the filters, since we all know that a filter itself is far from being a STRATEGY that everyone needs in stock exchange.
When someone requests help in creating a filter and you provide help him/her in this, this is one thing, but when you post a new filter, it would be always very useful to provide the idea and logic behind it.
Sorry, I did not mean to offend anyone here, this is a very useful forum, especially if it is really USEFUL.
Four, thanks for your explanation to the filter you posted.
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