alhajri
9 posts
msg #30722
- Ignore alhajri |
1/19/2004 4:59:52 PM
Hi all
iam daytrading since five years but i saw most trader not like it . somtime i
correct my stock from my filters in stockfetcher and some stock take it with
INPLAY from briefing . but since six months take all day stock from screens
from all markets and now i want find this stocks from any forumla from stockfetcher where [ total volume / hours into the trading day ] multiplied by 6.5 ( trading hours in a day ). this is a simple formula that I use to decide how the volume % is acting during the day . It's a good idea to avoid entering new positions the first 15 minutes of the market open . Only trade breakouts that have excellent volume % relative to its 60 day volume average. I generally only trade breakout stocks that exceed their 60 day moving average. Some programs like Medved Quote Tracker already do this for you. The 60 day moving average can also be found on Yahoo Finance under detailed quotes. Trading breakouts with big volume % greatly enhances your chances for a successful trade. This is especially true when Day Trading or Swing Trading
for example :
Stock XYZ has a breakpoint of $20.00 with a 60 day average volume of 400,000 shares. At 11:30 eastern time, stock XYZ broke the $20.00 price resistance (breakpoint) and there has been 100,000 shares traded so far.
Should you go long this breakout stock since it has broken the $20.00 resistance? The answer would be NO, because by using the following formula, the adjusted volume is only 325,000 shares, which does not meet or exceed the 400,000 share 60 daily average volume.
and thanks all
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TheRumpledOne
6,411 posts
msg #30789
- Ignore TheRumpledOne |
1/24/2004 12:44:00 AM
Interesting...
How exactly do you set up QuoteTracker to do this for you?
Thanks in advance.
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travlr
80 posts
msg #30806
- Ignore travlr |
1/24/2004 11:03:39 PM
"i want find this stocks from any forumla from stockfetcher where [ total volume / hours into the trading day ] multiplied by 6.5 ( trading hours in a day )."
alhajri,
Unfortunately, SF only screens end of day Data.
Avery,
You seem like you might be one to get intrested in programming/automating some of your trades. I have alot of fun with WLD3...FWIW.
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