StockFetcher Forums · Filter Exchange · bollinger bands<< 1 ... 4 5 6 7 8 ... 23 >>Post Follow-up
299 posts
msg #26352
Ignore wallman
5/1/2003 9:06:45 PM

HI DD, i think that if you haven't read the posts on the bottom bb method from the beginning that you should take the time to do so,as i believe you will find most of your ?'s answered in my replies,if you have any ?'s after doing so please feel free to ask,i'll be more than happy to try to answer them for you

36 posts
msg #26354
Ignore AntNet
5/1/2003 9:23:47 PM

I've been following the BB system posts and am trying to pull together the rules and exceptions. Is this the correct initial filter?


Results as of mkt close Thursday May 1, 2003

Symbol Last %Chg Vol
ROXI 4.84 -7.28 310050
PCS 3.47 -0.86 7666700
DTHK 2.26 -7.76 218900
BNBN 1.43 -10.01 554094
IONA 1.35 -0.74 158150

I'll take it in steps so I don't get to far off track.

Tks Bert.

45 posts
msg #26356
Ignore no4j
5/1/2003 10:14:08 PM

Me again. I just turned on the Volume indicator color option in IQCharts. I didn't even know I could do that! Makes it a lot easier. The scan doesn't return the same stocks as stockfetcher does. I'm working on the scan to try and figure out what the diff is. I simply missed the part about moving the trailer up before it hit the center BB band. Got it now. Makes sense. Thanks again!

299 posts
msg #26359
Ignore wallman
5/1/2003 10:42:59 PM

DD, your last post didn't appear on my screen until i posted my answer to your first post somehow,or i wouldn't have asked you to read the posts as you stated you did in your second post(huh?)hope you understand what i'm TRYING to say,anyway sorry for the mix-up,yes you have it right with your 3 statements,but remember it's probably best to go with 1-4 stocks only after you are comfortable with it,yes i tighten the trailer at midpoint of bb to 3%,and yes i take quite a few winners without giving back anything,this is my goal at the beginning of EVERY trade,i will sell the next morning when the stock reaches an RSI(14) of 75 or higher,but as described with my mental stops i will first wait to see if the stock opens higher and watch it and if i don't sell repeat this over again the next day,iv'e actually gotten 4 extra days gains this way,even as the RSI was into the mid 80's,BUT the moment i see red at the open,it's sold,period,no matter if it's .01,you have to remember with these low priced volatile stocks that it's basically a game of momentum,if it starts to turn against you at the open after a good run of a few days or weeks,it could mean the crowd or worse yet mutual funds are taking those profits and i'm not holding to find out,you have to remember many of these stocks that you sell at 75 RSI will keep going so if you use this approach you will have to deal with it,myself, i like getting out giving back nothing so it doesn't bother me,i just try to find another "fresh" one,an example to look at is MNTG,bought 4-14,hit 75 RSI at close yesterday,sold today as it opened .02 down,this stock may only be starting to run,but i got out clean with 24% and there is no use to get greedy IMO, MED is another perfect example of watching the open to see if it opens higher after a stop is hit the day before,bought 3-31, hit midpoint bb 3% stop 4-4,next day it opens green,and finally stopped out with 75 RSI ,opened next day higher but started to slide fast and i sold ,just a little trick like that added 26 days to the trade and an additional 56% profit......AS ALWAYS,GOOD LUCK

299 posts
msg #26360
Ignore wallman
5/1/2003 11:29:11 PM

HI BERT, yes that's the filter and they are the matches......couple of tips,first, because i like to have 10 stocks to chart i will keep adjusting the volume to give me 10,but NEVER lower than 50000,tonite 50,000 will give an additional 3 to chart, of the ones that meet my volume and bottom tail criteria,i will watch for green at open on the original 5 first and if none are up watch the other three,reason i like 10 to chart is because when the market opens crappy there may only be 1 or 2 that show green,gives me more choices to make a better entry from,and another thing is to look for stocks that were on the match list the day before and failed,these have proven to be good gainers in the past,guess it improves the odds somewhat,but not sure,don't like to out-think myself, PCS and ROXI fit that tonite GOOD LUCK

54 posts
msg #26361
Ignore knowsenough
5/1/2003 11:45:31 PM

Some advice on Paper Trading....
I am new to the service... as a paying customer, and so am still getting around all the tools here, but I read some posts here and thought I could add a bit of advice from experience. First, once you remotely feel you have some sort of system, start using it right away. Paper trading is not trading at all...why?....the most important ingredient is missing (you) meaning, "your emotions". You'll never truly know if your system "really" works till you put down the cash. Only then will you know what it's really like trading. And's okay to lose, as losing lessons are "truly" never forgotten, unlike winning.

299 posts
msg #26362
Ignore wallman
5/1/2003 11:53:53 PM

HI NO4J,i use prophetfinance java charts,they are free and real easy to read,if you use realtime charts think they are pretty cheap,i noticed that ROV is an over $10 stock,a friend who has been trading this method with these for awhile tells me that an RSI of 70 is better for your top bb exits,than the 75 used for under $10,i don't know as i stick to under 10 always but it might be worth fooling around with if you are gonna go over 10,if your papertrading goes well let me know how you make out with real trades......

45 posts
msg #26365
Ignore no4j
5/2/2003 7:31:07 AM

Wallman, Still another question (you've really got something going here). One requirement of the screen is that the price touches the bottom BB. What if the day range is entirely below the band? Is this a stock you would not want to deal with? Oh, about the over $10 stocks. I am paper trading with stocks up to $20. Just trying to see the difference in volatility. And I agree, paper trading is NOT like the real thing. Many people paper trade well but lose discipline when the cash is on the line.

299 posts
msg #26366
Ignore wallman
5/2/2003 8:23:33 AM

HI,NO4J, yeah alot more interest than i thought there would be,most of the time when people see the simplicity of the filter they don't even bother to check it out,as far as bodies entirely out of bottom bb,i love those kind but don't see that many,in fact i will usually watch for green at open on those kind first if they meet volume and tail criteria,think you will find over $10 stocks will work fine,it's just that i first started with 1-10 dollar stocks and am afraid to change,it's the "if it ain't broke thing",ya know.....see ya,muddy

26 posts
msg #26368
Ignore dabonenose
5/2/2003 10:24:23 AM

Hey Muddy,,,your making this system very clear. I started day one realtime trading it and so far, I am extremely impressed.

The only thing is I pulled the sell trigger early on gainers, but kept the tix in a separate trade so I could follow their progress. This way I could see if they broke down or kept advancing.

I only did this for two days and I was convinced.

Love this system and your generosity, it's not easy to find these days.

I also scan Fetch for potential double bottoms that haven't materialized yet and buy at the second bottom support level.

So far 2 for 2 in that department and actually I'm seeing a more rapid advance there, but more risky.


StockFetcher Forums · Filter Exchange · bollinger bands<< 1 ... 4 5 6 7 8 ... 23 >>Post Follow-up

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