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Filter Exchange · V2 & V1 - Value Zone
davesaint86
msg #158967
modified
4/11/2022 10:36:56 AM

https://www.tradingview.com/x/JVUVS5Nz/

Here is a valid (if it closes like this by the end of the day) Return to Value V1 trades. Price also bounced off the 50(MA).

Filter Exchange · V2 & V1 - Value Zone
davesaint86
msg #158966
modified
4/10/2022 5:10:09 PM

https://www.tradingview.com/x/XdVGeph3/
https://www.tradingview.com/x/6jXD1RHS/
https://www.tradingview.com/x/csFGjZ7X/
https://www.tradingview.com/x/nM1hIM8b/
https://www.tradingview.com/x/WsgQWD66/
https://www.tradingview.com/x/6288O3ik/

Nice.

There are Return to Value V1 / ss and Higher Low V1 /V2s. The criteria for both are shown in the links, along with examples I've created with notes.

With Return to Value V1/V2s, price moves into the Value Zone (between the +1 and -1) ATR bands from above. Price is supposed to consolidate at least two days before a new V1/V2 are created. I was not able to figure out how to add this to the filter, which is important to see. So the current V1 and V2 filters return many invalid signals so I think the filters need to be corrected. However, what is funny, is that I've been monitoring the invalid signals and many still spike up for at least one day.

With the Higher-Low V1/V2s price comes into the Value Zone from below. No consolidation is needed, just the spike-down candle needs to be a higher-low.

Davesaint

General Discussion · Learning
davesaint86
msg #158953
4/9/2022 9:44:04 AM

https://www.youtube.com/watch?v=JAGgL40_ntI

New free price action course

General Discussion · Gossett Trading & Mentoring - 2/12/22 - Review of last week's stock trades & potential stock trade set ups for the upcoming week
davesaint86
msg #158950
modified
4/8/2022 3:23:15 PM

It was supposed to be over. He taught everything that is in this video below.

https://www.youtube.com/watchv=nmP9Elib1N4&list=PLkb1P7LeRBLLH1hPwxGAKWLQwjjwAyOeO&index=6

Screenshot of Scanner
https://www.tradingview.com/x/J8KeqVoB/

He wants to give me one more lesson on ICT. (No extra cost). I'm supposed to be granted access to the scanner and to Steve Burns trading room once the training is done. He showed me the scanner and it's better than what I created in SF. Tuesday, he taught me Double Bottoms Bullish Divergence and vice-versa. I took the Home Depot trade at the close yesterday since it had this pattern at the time. You can see what it did today.

@davesaint86,

Is your one on one course over? Did you graduate with honors :)

Have you compared his scanner, that you now have access to, against your SF filter for V1s, to see if they return the same group of stocks?

Thanks,
Ed S.

General Discussion · Gossett Trading & Mentoring - 2/12/22 - Review of last week's stock trades & potential stock trade set ups for the upcoming week
davesaint86
msg #158924
4/3/2022 2:09:24 PM

https://www.tradingview.com/x/OMlgmbU7/

Here was a valid V2 signal that the V2 SF filter picked up. Play with the offsets on both the V1 and V2 filters I posted. The results are pretty good for the ones that are valid and adhere to the rules.

General Discussion · Gossett Trading & Mentoring - 2/12/22 - Review of last week's stock trades & potential stock trade set ups for the upcoming week
davesaint86
msg #158923
4/3/2022 1:30:27 PM

Ed - All good points.

He looks for confluences of several signals. So say he buys AMD on a 300-day price crossover - he will look and see if price is also crossed up from the -3 Keltner channel band or the MACD turned positive or some other confluence. Usually if there is not a confluence he does not buy. On a daily basis before the market closes he sends me a list of what he may buy. He waits to literally the last 15 seconds or less to pull the trigger. He told me with his trading partner they mostly trade SPY, QQQ, AAPL, MSFT). He trades what you see in his weekly videos. I think he has been pretty transparent. When the market was going down, he reported more losers than winners and the losses he took. He told me he averages between 12 - 18 percent per year from what I remember. He is not claiming 50%+ per year like a lot traders out there on YouTube. He told me his real bread and butter trades are the Return to Value V1/V2 and the Lower-High V1/V2 trades which he usually day trades these signals. He doesn't mentioned these trades in the weekly videos unless he is using the daily or higher timeframes in his charts.

You may find this guy interesting. He calls people out that do not publish their P&L.

https://www.youtube.com/c/REALPLSHOWN



I went back to his weekly video of 3/22 where he backtests the 300 day moving avg crossovers for AMD.

1. ETF Replay standard backtest results for any stock that issues dividends is to include the effect of receiving dividends and reinvesting them, while this doesn't matter for AMD, since they don't issue dividends; for many other stocks it can affect backtest results. Another neat feature of the ETF Replay site is their comparison backtest page of their normal Total Return vs. just Price Return in which we can choose any length time period for that comparison.

2. Gossett repeatedly states in his videos that he does not hold positions thru Earnings and doesn't like to get into positions when Earnings are approaching near term.

a. Generally, the longest period between consecutive Earning dates for most stocks is 63 trading days which for simplicity, I'll assume that is the maximum number of days that Gossett has ever been in a Deep Dip trade. (There are many other reasons due his methodologies that he probably is never in a trade that long)

b. The AMD backtest he ran shows the avg hold period for the winning trades was 429 days which clearly is much longer than 63 days, kind of an Apples and Oranges comparison to my way of thinking.
In fact, AMD's shortest winning trade for that backtest was 251 days.

3. He often talks positive Risk Reward when reviewing backtest results such as AMDs yet in most instances the %of winning trades is much lower than the % of losing trades, in AMDs case 31% winners and 68% losers, probably would not matter much if he could let the winners run full term but that clearly is not how he trades. To me it seems like more risk than reward in that instance.

4. AMD's backtest shows about a -85% Max Drawdown which does not seem to phase him a bit, but if my thinking is correct, if you don't hold the winners longer than 63 days their gains don't get as high and then if you then trade the same string of consecutive shorter duration losing trades, the MAX Drawdown percentage will probably increase.

In a change of topic, I noticed that in his videos he shows in each trade he takes his profits and losses achieved but I have yet to run across any statement from him related to long term success rate or achieved annual % gains or losses. Nor does he ever mention if he sets yearly trading goals.

Ed S.

General Discussion · Gossett Trading & Mentoring - 2/12/22 - Review of last week's stock trades & potential stock trade set ups for the upcoming week
davesaint86
msg #158920
4/2/2022 5:54:57 PM

Gossett and his trader partner added a new trading strategy into their arsenal.

https://www.youtube.com/watch?v=tmeCWULSTHc

I haven't watched the whole video yet. I think it might have to do with Institutional Order Blocks and keying off these levels where the order blocks were purchased or sold. Also, there is a whole series of videos.

General Discussion · Gossett Trading & Mentoring - 2/12/22 - Review of last week's stock trades & potential stock trade set ups for the upcoming week
davesaint86
msg #158919
4/2/2022 5:51:24 PM

All were Deep Dip Buys. I have the Adjust for Dividends option checked in TradingView. See link below. GPRE was a Deep Dip Buy because the price on March 22nd closed above the MA(300). Gosset added the MA(300) into the arsenal due the prolonged downturn. By the way, StockFetcher does not take dividends into consideration or has an option to adjust for dividends.
https://www.tradingview.com/x/NW5hMppP/

Below is a Weekly trade I took at the end of the day on Friday. The trade is a closed above the weekly MA(200).
https://www.tradingview.com/x/tj7fDedP/

From Greg Gossett about adjusting for dividends and splits. I sent him a question about this topic and below is his response.

"So the signals for the MRK trade on the weekly for me was a rejection of the 200 SMA.

I understand from your question that on your charts the 200 SMA was not tested.

This is not uncommon. My charts are set to adjust for dividends and splits.

Check your charts to make sure you are adjusting for dividends and splits.

Often times over the years my charts do not match up with other people and this is usually the reason.

I have attached a weekly chart of my MRK charts for reference.

Now on IWM the signals were a rejection of the 30 RSI and a rejection of the 100 SMA and a rejection of the -3rd ATR channel on the weekly.

I have also posted a screen shot of the IWM trade.

So if we are not matching up then most likely it is the adjusting for dividends and split setting I mentioned above.

Try and adjust the settings. If you can great but for some reason if you cannot and we still cannot sync up then it's not a problem.

Just trade the charts that you have in front of you.

It's really just about picking the level that is on your charts and respecting those levels.

I hope that this helps David and let me know if changing the dividend setting get's up synched up correctly."


@davesaint86
I started using the Gosset system trading live on March 15th...
=====================================================
Which of Gosset's strategies are you using as your AAPL, SPY, AMD and GPRE trades wouldn't be Deep Dip Buys?

Different Types of Deep Dip Buys
▪ Close Under & Close Back Over the 200 SMA or 250 SMA
▪ Intra-Day Rejection and close above the 200 SMA or 250 SMA
▪ Bounce at the 200 SMA or 250 SMA and close above
▪ RSI Reading Goes Below and then closes Back Over the 30 RSI
When using the Deep Dip Buy Approach it should be applied only to stocks and indexes that
have been back tested and are shown to have profitable long term results using the Deep Dip
Buy Approach. In the next three slides I have listed the Indexes and Stocks that do back test
positively over the long term using the 200 SMA and 250 SMA levels.

General Discussion · Gossett Trading & Mentoring - 2/12/22 - Review of last week's stock trades & potential stock trade set ups for the upcoming week
davesaint86
msg #158917
modified
4/1/2022 5:20:45 PM

Thanks! Below are settings that he recommends. He did admit to me that he uses the EMA version sometimes because it's faster.

Which Charts Indicators I use
and their settings (Page #2)
Keltner Channel Settings
• Number of Bars used in Average = 20 SMA (if not available then EMA)
• Factor Settings = 1 through 3 Standard Deviations
• When finished you will have three separate Keltner Channels above and
below the price
• The (+) and (-) 1 ATR Channel should be colored green
• The (+) and (-) 2 ATR Channel should be light grey color with a thin line
• The (+) and (-) 3 ATR Channel should be dark grey color with a thick line

Filter Exchange · V2 & V1 - Value Zone
davesaint86
msg #158899
modified
3/27/2022 2:50:55 PM

Here is the V1 & V2 Gossett video.

Gosset stated to me that Kerry Lovvorn told him in reality one could find 1-3 good V1 or V2 setups per week. Below are some of the criteria which separates the good from the bad ones. I should also mention that Gosset looks for a confluence of other buy signals in all of his strategies. For example with a V2 buy signal the MACD may be signaling a buy along with a major moving average cross.

https://www.youtube.com/watch?v=g0NbCVTfvXg&list=PLkb1P7LeRBLLH1hPwxGAKWLQwjjwAyOeO&index=8
During my search I found plenty of V1 and V2 signals.

V1 & V2 Return to Value Zone
Price comes back from above into the Value Zone (+1 & +-1)
Price should consolidate at least two days
Look for a rejection of -1 Keltner line – increases the odds
If the Day 1 bar is larger than 1 ATR do not take the trade – it is a distribution bar
Close above the +1 ATR – which means closing above value
Price comes back from above +1 ATR into the Value Zone (+1 & +-1)
Price should consolidate for at least two days
Look for a rejection of -1 Keltner line
If the Day 1 bar is larger than 1 ATR do not take the trade – it is a distribution bar
The End of the Day Stop is the is a close at the Midpoint of Bar 2 Washout Bar
If the buy bar closes above the +1 ATR channel do not take the trade
Sideways motion leads to trends
V1 and V2 are false breakouts to the downside than reverses (Cause traders to sell their positions)
Valid V2 with good consolidation of three days after coming into the Value Zone from above. The best V1 and V2 signals have no gaps. Gap should gap a ¼ of an ATR or less.





https://www.youtube.com/watch?v=g0NbCVTfvXg&list=PLkb1P7LeRBLLH1hPwxGAKWLQwjjwAyOeO&index=8

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