chetron
2,817 posts
msg #55640
- Ignore chetron
modified |
10/11/2007 10:22:50 PM
THANX AGAIN TRO FOR ALL YOU'RE IDEAS. I PROBABLY CAN'T IMPROVE ON YOUR IDEAS, BUT THIS HELPS ME UNDERSTAND THEM BETTER, I HOPE.
/* SETTING THE RANGE */
SET{VAR1, HIGH - LOW}
/* SETTING THE PREDICTED 10-MINUTE VOLUME OF A STOCK */
SET{VAR2,VOLUME * 0.01}
/* ASSUMING I CAN GET AT LEAST 10% OF THE RANGE IN A TRADE */
SET{VAR3,VAR1 * 0.10}
/* SETTING THE NUMBER OF SHARES NEEDED TO MAKE $200 ON THE TRADE */
SET{VAR4,200 / VAR3}
/* THE COST TO ENTER THE TRADE */
SET{VAR5,CLOSE * VAR4}
/* RATIO OF PRICE V. PROFIT */
SET{VAR6,CLOSE / VAR3}
/* RATIO OF RANGE GROWTH RATE, IF THE RANGE USUALLY INCREASES THE NEXT DAY, MAKING THE 10% SHOULD BE EASY?! */
SET{VAR7,COUNT(VAR1 > VAR1 1 DAY AGO,100)}
ADD COLUMN VAR1 {RANGE}
ADD COLUMN ROUND(VAR2,1) {AVG_DAY_VOL}
ADD COLUMN VAR3 {10% PROFIT}
ADD COLUMN ROUND(VAR4,2) {QUANTITY_NEEDED}
ADD COLUMN ROUND(VAR5,1) {COST}
ADD COLUMN ROUND(VAR6,1) {REDUCE_THE_RISK}
ADD COLUMN VAR7 {WIN/LOSS_RATIO}
VAR3 > .0099 AND VAR2 > VAR4 AND VAR6 < 250 AND VAR5 < 20000
CHART-TIME 10 DAY
SORT COLUMN 5 DESCENDING
ENJOY
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dccolt
19 posts
msg #55644
- Ignore dccolt |
10/12/2007 12:06:56 AM
Hello Chetron:
Your dashboard type filter looks very interesting... if it originated from TRO's ideas, I am highly curious to know more about it. Can you explain more about what it guages and more about how positive entries can be made using it??? Thanks in advance
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chetron
2,817 posts
msg #55646
- Ignore chetron |
10/12/2007 7:07:10 AM
Hello Chetron:
Your dashboard type filter looks very interesting... if it originated from TRO's ideas, I am highly curious to know more about it. Can you explain more about what it guages and more about how positive entries can be made using it??? Thanks in advance
********************************
THIS FILTER IS MY ATTEMPT TO BETTER UNDERSTAND DAY-TRADE SCALPING.
I WANTED TO USE THE "HIGH/LOW" DIFFERENCE, VAR1, RATHER THAN "OPEN/CLOSE 1 DAY AGO" GAP, BECAUSE I CAN SEE THE PROFIT BETTER.
I AM USING VAR2, 10 MINUTE DAILY VOLUME GUESS-TO-MATE, TO MAKE SURE THAT I DON'T PICK STOCK THAT CAN'T HANDLE MY TRADE, OR THAT MY TRADE IS NOT THE TOTAL DAILY VOLUME. WHEN I WAS PAPER TRADING, I MADE THE MISTAKE OF NOT TAKING IN ACCOUNT THE VOLUME, IE: STOCK RISES $1 AND ONLY 1 SHARE SOLD.
VAR3, IS 10% OF THE RANGE, WHICH I USE AS A MINIMUM PROFIT, BECAUSE YOU DON'T USUALLY GET THE WHOLE HIGH/LOW RANGE IN ONE TRADE.
VAR4, SETS UP HOW MANY SHARES I HAVE TO BUY TO MAKE $200 WITH VAR3 AS MY PROFIT. TRO LIKES TO PRINT $100 BILLS, BUT HE IS IN ARIZONA. I HAVE TO ADJUST FOR INFLATION AT BOSTON RATES, LOL. I NEED $200 BILLS JUST FOR COFFEE.
VAR5, HOW MUCH THE TRADE SHOULD COST ME, ONLY APPROXIMATE ARE BEING USED HERE.
VAR6, I AM TRYING TO GET MORE BANG FOR MY BUCK. IF VAR3 IS .20 AND I HAVE 2 STOCKS TO PICK FROM. ONE IS $5 AND THE $50 EA. I LIKE TO TAKE THE $5 STOCK FOR THE TRADE AND PUT LESS MONEY AT RISK, THE SMALLEST VAR6.
VAR7, COUNTS THE HIGH/LOW RANGE THAT INCREASES THE NEXT DAY, WHICH I HOPE PROMOTES MY PROFIT TO BE REALIZED THAT MUCH QUICKER, BECAUSE THIS FILTER IS A WATCHLIST MAKER FOR THE NEXT DAY.
I AM USING 1/2 OF VAR3 AS MY BUYZONE, AND DON'T BE GREEDY.
ENJOY, CHET
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dccolt
19 posts
msg #55653
- Ignore dccolt |
10/12/2007 4:53:20 PM
Thanks for the information. I am going to study it some more. I think the filter has some interesting potential.
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chetron
2,817 posts
msg #55658
- Ignore chetron |
10/12/2007 6:23:06 PM
i think my filter is more money mangement than anything else. i am concentrating more on how i trade more than what i trade. thanx again tro
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TheRumpledOne
6,411 posts
msg #55677
- Ignore TheRumpledOne
modified |
10/13/2007 12:47:47 PM
chetron:
Let me suggest you use High - Open and/or Open - Low.
This is the basis of my BuyZone or Milk The Cow strategies.
Trying to capture the range is trying to guess the top and/or bottom.
But taking the High - Open and Open - Low is simple. Price starts at the open and has to "range". All you have to do is go with the flow to capture the profit. This filter I posted looks for stocks where high - open is above $.50 at least 81 times in the last 100 days. Fishing in a barrel!!
Stocks usually stay above or below the open. All you have to do is take advantage of this knowledge. Trading the same "ranging" stock, day after day gives you an advantage of "knowing" how the price usually moves. Of course, you can look at the statistics to get a further edge.
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