nibor100
1,085 posts
msg #161813
- Ignore nibor100 |
5/2/2025 10:13:14 AM
Inspired by TRO's recent posts on Price Action State, the past few days I have been running a filter most nights to create a Watchlist of stocks to monitor their performance the next day.
The premise is to use Larry Williams Down Range Down Close condition and target the lower risk situation of High minus Open (as opposed to High minus Prior Close) to scalp 2 cents or more the next day.
a. So I run this filter the night before or before 9:50am of the trading day:
b. then I save all of the result stocks to a watchlist I previously created, in this case (ThursdayNighMay1), and then I run this next filter periodically through the day to monitor positive price action:
c. Generally, I've found that a healthy majority of the stocks, on a given day, achieve a High price more than 1 cent above the Open.
d. My watchlist named ThursdaynightMay1 has 73 symbols for monitoring today. I've downloaded a CSV of yesterday's results and expect to post some stats later.
Ed S.
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nibor100
1,085 posts
msg #161814
- Ignore nibor100 |
5/2/2025 11:36:44 AM
The stats I promised:
100 symbols
71 had (high - open) gains of greater than 1 cent
avg gain a little over 9 cents, skewed by the largest at $1.02
13 others had gains of 1 cent or less with the rest at 0 gains
55 had (high - prior close) gains of greater than 1 cent
avg gain almost 13 cents, skewed by the largest at $1.59
13 others had gains of 1 cent or less and 5 with 0 gains
27 had losses with avg of -2 cents and largest loss at -7 cents.
Ed S.
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nibor100
1,085 posts
msg #161815
- Ignore nibor100 |
5/3/2025 3:38:48 PM
The stats for yesterday:
73 symbols
(high - open)
46 had gains of greater than 1 cent
avg gain a little over 13 cents, skewed by the largest at $1.45
16 others had gains of 1 cent or less with the rest at 0 gains
(high - prior close)
55 had gains of greater than 1 cent
avg gain almost 17 cents, skewed by the largest at $2.51
12 others had gains of 1 cent or less and 2 with 0 gains
5 had losses with avg of -2 cents and largest loss at -6 cents.
(close - prior close)
25 had gains of greater than 1 cent
avg gain almost 17 cents, skewed by the largest at $1.09
11 others had gains of 1 cent or less and 7 with 0 gains
30 had losses with avg of -5 cents and largest loss at -20 cents.
Ed S.
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TheRumpledOne
6,527 posts
msg #161816
- Ignore TheRumpledOne |
5/4/2025 11:54:35 AM
"The premise is to use Larry Williams Down Range Down Close condition and target the lower risk situation of High minus Open (as opposed to High minus Prior Close) to scalp 2 cents or more the next day."
You think there is lower risk buying the open? Based on what?
Just curious.
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nibor100
1,085 posts
msg #161817
- Ignore nibor100 |
5/5/2025 11:56:27 AM
From an Opening price perspective, buying these groups of stocks at the prior day's close will result in some of them having immediate losses at the Open.
Some of those losses will most likely be overcome during the day of trading but some won't; whereas buying only at the Open price, means only the activity of the trading day governs whether there are gains or losses.
Theoretically, if one could sell any(all) of the stocks bought at the open, at their High(s) of the trading day, no stock could have a loss as the High of the day could never be lower than the Opening Price.
the filter below shows example columns of those situations for my group of symbols for today.
Ed S.
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