therm
5 posts
msg #159565
- Ignore therm |
9/6/2022 10:44:41 AM
Hi and sorry for the late reply. His story is amazing, but we need to remember than he has spent hours and hours training his eyes and practising and taking in information on stocks and the market. It's like Michael Jordan telling you all the tips and tricks he knows, but it won't make us great basketball players unless we practice practice practice...and even then we will probably not reach his level. This being said, it' s great foundation to learn from.
As per your questions:
- I looked it up and indeed the treshold is 30%, so one could change that in the 1 month screener.
- For the manual scan -> I export the list to a CSV, load them in excel (through the data tab), add a simple formula to achieve the TradingView import format and paste that in a text file which I import in TradingView. (Might sound complicated, but it really isn't.) I then manually screen them for interesting setups and set alerts.
I took a look at the TV indicators you have added. They seem interesting, but I have already given up at looking for an indicator that will help me to decide when to buy and when to sell. I like the sell rules of Qullamaggie. They are very simple. As for the buying, it's an art. So one needs to practice and review their trades. Trading on technicals is all about price and volume. So the only indicators I have on my TV window are moving averages and TaPlot pocket pivot indicators to easily detect accumalation and distribution days. For the rest I try to keep my chart clean. I have recently even removed the different bar colors for up and down days. I think it distracts from seeing the setup.
Additionally, I might want to say that I have temporarily disabled the volatility contraction and close to ATH requirements. The first because I also want to capture other patterns and find out what trades the best. The second because I ran into a video of Qullamaggie explaining how high RSI is not necessarily the right indicator to focus on in prolonged down markets. Often, most beaten up stocks will make the most violent moves up when the bull restarts, at least in first instance.
See here: https://www.youtube.com/watch?time_continue=14&v=iO9Brr2F8zk&feature=emb_title
That channel is full of great videos btw, also on the setups that Qullamaggie trades.
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