JoeGrossinger
165 posts
msg #27787
- Ignore JoeGrossinger |
8/12/2003 8:54:56 PM
Don't have the patience for some dog to rise from the grave?
Don't like buying stocks that look like they have one leg in the grave and one on a bananna peel?
Use the following filter
Show stocks where close reached a new 26 week high 3 days ago
and Average Volume(90) is above 500000
and close is between 1 and 5
It's very simple, looks only for movers and returns only winners.
You have to look out for overbought situations with the RSI(2) and RSI(15) functions but you don't have to worry too much about these stocks taking a 30% or more plunge towards the volume bars.
With a little work on your buying rules and a bit of charting this one filter can make you more than a gratifying series of returns.
No magic, just utilizing what Stockfetcher offers and putting in a little bit of work.
You can expand or contract the volume requirement and the price range to suit you. This filter will work for you in good times and bad.
It's all you really need.
No real work went into it. It simply looks for stocks that are going up.
http://www.koliga.com/forum/index.php
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risjr
229 posts
msg #27789
- Ignore risjr |
8/12/2003 10:21:17 PM
Great Filter Joe
But it has several hundred stocks returned every day!!
How do you further narrow your search criteria?
Just too many charts to review!!
Any further suggestions?
Thanks in advance
Ron
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risjr
229 posts
msg #27790
- Ignore risjr |
8/12/2003 10:41:38 PM
Hey Joe
May have answered my own question!
adding "and rsi above 50"
this returns lot of green, and lots of double digit green for the last 1-5 days!!
And no cliff droppers! You mite have the mother lode here?!?!
I'll keep playing with it!!
Anyone else reading this. Please play with it and let us know any refinements!
Hey Joe, sure beat the bottom
Sure beats the bottom fishing for crums that have been going on lately!!
Thanks!!
Ron
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JoeGrossinger
165 posts
msg #27793
- Ignore JoeGrossinger |
8/12/2003 11:52:19 PM
Well, you know, I do a lot of bottom fishing, I use the MM, I use Holy Grail's filter and some I have written, but it's kind of depressing opening each market session with nothing but red. Sure enough some of them turn green and thats great. However, sometimes I just like to see green right off the bat.
The secret to that simple filter is Money Management.
You are buying winners, so there is little waiting around.
It goes up fine, you make money.
It goes down 4% you are out and on another stock making money.
It's quick, because your money is in constant play.
Far too many times I have had to wait a week or 4 for the dang gutter rat to start moving. Not with these babies. They only get picked because they move.
They key is very low losses and constant gainers.
The immediate application of the 4% stop loss is critical! Don't let them slide.
Somebody stated that they got too many hits. I only got 5 hits when I ran it.
Buy the 1st pick because of volume and move on down if you have more money.
The stocks are highly liquid so buying a thousand shares at a time should be no problem.
I set up a thread on my forum where I am going to start papertrading this baby tomorrow, just to show that sometimes simple is best.
http://www.koliga.com/forum/viewtopic.php?t=1668
Getting back to getting too many hits, please note that the average number of shares I'm looking for is 500,000 and not 50,000.
I like liquid stocks where you can slip in and out without notice.
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TheRumpledOne
6,411 posts
msg #27803
- Ignore TheRumpledOne |
8/13/2003 2:23:50 PM
Hey Joe, you said you didn't use the "HG" filter (and techinically you don't).
Now you claim you do?
Which one is it?
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TheRumpledOne
6,411 posts
msg #27804
- Ignore TheRumpledOne |
8/13/2003 2:28:44 PM
I just tried:
RSI(2) would have entered you sooner and cheaper each time!!
Joe G. you can't beat:
SHOW STOCKS WHERE RSI(2) < X where X is < 10
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risjr
229 posts
msg #27805
- Ignore risjr |
8/13/2003 3:03:38 PM
Whatever he's using Avery, sure is a duzy isn't it?!?!? How's it compare to your 'SECRET FILTER"?
RON
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risjr
229 posts
msg #27806
- Ignore risjr |
8/13/2003 3:35:56 PM
By the way, this is BUYING HIGH, AND SELLING HIGHER!! NO BUY LOW AND SELL HIGH, WITH BOTTOM FISHING!!
No real surprises, these stocks are on the move with no/extremely minimal headfakes!!
These stocks on on the move, with high momentum!!
RON
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TheRumpledOne
6,411 posts
msg #27810
- Ignore TheRumpledOne |
8/13/2003 4:40:09 PM
A dozy it is..lol!
Doesn't compare.
Like I said, look at the charts for the stocks selected by the filter.
Everytime, RSI(2) gets you in lower for a higher profit.
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jthehut
124 posts
msg #27813
- Ignore jthehut |
8/13/2003 4:59:46 PM
RumpledOne: is there any specific magic to rsi(2)? For example, have you played with rsi(3,4,5,6,7, etc.)
Just curious,
jabba
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