StockFetcher Forums · General Discussion · When markets are in a pullback.<< >>Post Follow-up
Mactheriverrat
2,864 posts
msg #158418
Ignore Mactheriverrat
1/18/2022 5:24:32 PM

When markets are in a pullback. I'm more inclined to not go chasing Bullish setup in equities. I was shown some years ago that when markets are is a pullback that its not a good idea to be Bullish. Traders be from the newest to the big funds are inclined to put selling pressure on really good setups. Let stocks re-set and setups will fall back into place.

In other words " Do be trying to catch falling knives".

snappyfrog
490 posts
msg #158419
Ignore snappyfrog
1/18/2022 8:38:40 PM

This is true if one only trades stocks. Options allow one to
trade both ways. Money can be made faster when in a
downtrend than in an uptrend most times. "Elevator down,
stair steps up".

I am not promoting options, especially to those that have
not studied how they work and all of the moving parts.

miketranz
922 posts
msg #158420
Ignore miketranz
1/18/2022 9:45:34 PM

[
Fetcher[ CLOSE ABOVE MA(200)
RSI(4) BELOW 25
PRICE BETWEEN 1 AND 50
/*EXIT WHEN THE RSI(4) CLOSES ABOVE 55*/
DRAW MA (10) DRAW MA (20)
PRICE ABOVE 10 AND Average Volume(30)ABOVE 2000000
]

Larry Connors

xarlor
468 posts
msg #158422
Ignore xarlor
1/19/2022 8:03:41 AM

I like Larry Connors systems for their simplicity, clear-cut entry/exit rules, and most importantly, because they are profitable. Added ticks for entry/exit to mike's filter.

Fetcher[
CLOSE ABOVE MA(200)
set{enter,count(RSI(4) BELOW 25,1)}
RSI(4) BELOW 25,1
PRICE BETWEEN 1 AND 50
/*EXIT WHEN THE RSI(4) CLOSES ABOVE 55*/
set{exit,count(RSI(4) crossed above 55,1)}
DRAW MA (10) DRAW MA (20)
PRICE ABOVE 10 AND Average Volume(30) ABOVE 2000000
enter > -1
exit > -1
draw RSI(4) line at 25
draw RSI(4) line at 55
]



miketranz
922 posts
msg #158423
Ignore miketranz
1/19/2022 11:47:03 AM

Looks good.Beware of falling knifes...

StockFetcher Forums · General Discussion · When markets are in a pullback.<< >>Post Follow-up

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