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Filter Exchange · Bottom Filter
nibor100
msg #159075
5/16/2022 8:17:02 PM

That is probably one of the 2 most expensive improvements to add to SF, and would probably price out 40% of current users, I'm guessing...

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
nibor100
msg #159065
5/16/2022 12:05:11 PM

My most recent round of questions and answers to and from G. Gossett...500 trades a day sounds like an awful lot to me:

Ed S.

"Hi Ed,
Trading is mixed.
Swing trades have been down last months but thankfully I have had a record day trading month so far.

So I have answered your questions below in green.

1. Since Dr. Elder is very keen about record keeping, I was trying to set up a spreadsheet to document your trades presented in your weekly video series, as well as my own, and I'm kind of stumped on how to easily handle documenting the Partial Profits 10% position reductions, at 0.45 ATR levels above prior closes, as well as the various levels of Trailing Stop mode reductions of 50% of remaining position off, as it appears in some cases you reduce by 50% as many as 3 times in one trade.
Could you explain how you document keeping track of those items trade by trade?

Yes it is hard to keep track of it all with profit targets and trailing stops.
To be honest I used to enter all the trades into my platform so I could get all of the stats but I don’t do it anymore.
One entry and one exit is pretty easy but with my day trading I some times place up to 500 trades a day to it consumes too much time to enter them all in.
That being said it definitely is a good practice to enter your trades each day. (unless you make 500 trades a day like me)

2..Related to the same subject, I found looking at a couple of your older daily videos that you sometimes took 6, to 7 or more 10% profit targets during a given stock's day trade, but that you seem to only set 3 levels of 10% profit targets on your weekly videos relating to the various swing trades.
So, do you take a maximum of 3 profits targets per day per trade on the swing trades, if the price moves enough or more?

My standard practice is to only set three profit targets per day. It is very rare to hit all three but that is my process. Yes there are time that I hit more than three and in those situations I manually just add the 4th, 5th, 6th etc. intra-day if and when they happen.

3. Did you get your Value Zone range idea for the +1 and -1 ATR/Keltner Bands from Dr. Elder, or Steve Burns, or Kerry Lovvorn? Or is it your own technique?

I got this mainly from Kerry Lovvorn who is Dr. Elder’s trading and business partner.
Dr. Elder uses them as well but I mainly learned this from Kerry.
Hope that these answers helped Ed.
Have a great upcoming week!

Filter Exchange · Bottom Filter
nibor100
msg #159062
5/12/2022 5:18:49 PM

1. You can ignore the "nz" pine script function as it just declares a variable can be added to even when the first instance referenced doesn't exits yet. So it really has no effect on the equation per se.

using the default values of fast=40 and slow=60 PB boils down to :

.041667* today's close -.04167*close 1 day ago +1.791667 * PB 1 day ago -.802083 * PB 2 days ago

which, as Xarlor alluded to, definitely requires variable looping which SF doesn't allow us to do.

2. StrataSearch was a remarkable program considering all of its capabilities, unfortunately it had a few odd quirks along the lines of our own SF's odd quirks.

3. Has "the King" considered assembling a group to buy out/ take over SF daily operations with a user group for prioritizing improvements? With all of your board member contacts perhaps you could pull it off. At the very least I would like to know if SF would continue to exist if something negative happened to the current owner(s).

I suspect the current owner(s) is happy with the level of monthly income SF generates, and the little effort required to keep SF running daily. I assume there is no longer a programmer, and probably no site administrator, as the answers to help inquiries are generally vague and non-responsive. So no salaries to take over, a data provider payment and leasing of servers to run the website and perhaps some overhead costs and voila a real King of SF!! :)

So bumping up the fees a little bit to add at least a programmer to add at least one new feature a month, and perhaps paying the data provider for monthly data, etc. (I chose monthly because it is probably the easiest/cheapest to add on)....

Ed S.



General Discussion · ^SPX or SPY Comparison Crossover
nibor100
msg #159035
5/7/2022 7:18:46 AM

@snappyfrog,

What I seem to notice is that the crossovers you are interested in on WTI only happen on the SF "historical" chart displays and not the regular full size charts of WTI when running your filter; have you noticed the same?

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
nibor100
msg #159033
5/7/2022 12:41:59 AM

@davesaint86,

1. I've finished documenting his 4 months of weekly videos, and I seemed to notice that he might not have an actual written down trading plan as in a couple of instances he seemed to make spur of the moment decisions different that his usual ones.
Do you know if he has a formal set of trading rules to follow that are written down?

2. Also, there were a few instances where he didn't know for sure what if any 10% share reduction 0.45 ATR profit targets had been taken on a particular stock which would seem to indicate he doesn't keep an accurate log/history of his trades.
Do you if does keep a trading log?

3. Preliminary findings from his 4 months of weekly trading videos documenting his Daily, Weekly, and Monthly trades shows that he has been in 49 trades so far this year, 2 are still Open as of last weekend and 47 have been closed. 24 trades were closed before reaching any 0.45 ATR profit targets were he takes off 10% of his shares in the trade.

The majority of his trades have been losers but it will take a while to figure out exactly how many ended up being profitable due to the profit target methodology and the trailing stop mode executions where he takes 50% of shares out of the trade .

It doesn't look like he could possibly gain 15-18% profits this year averaging 3 trades per week while only risking 1/2 a % of his trading capital per trade as he has a lot of small losses to overcome and only 8 months to do it in and now he has the market and mathematics working against him.

Thanks,
Ed S.



General Discussion · ^SPX or SPY Comparison Crossover
nibor100
msg #159025
5/5/2022 12:06:39 AM

What are those 2 lines did a filter produce them?
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
nibor100
msg #159017
5/2/2022 8:00:42 PM

Below is a link to a TradingView chart with my working spreadsheet of Gossett's trades based on his first 5 weeks of weekly videos, doesn't look that good thru early February.

I plan to collect all 4 months of his trading results for further analysis.

Ed S.

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

General Discussion · Gossett Trading & Mentoring - 2/12/22 - Review of last week's stock trades & potential stock trade set ups for the upcoming week
nibor100
msg #159016
5/2/2022 1:31:11 PM

@davesaint86,

Below is Gossett's reply to my prior email:
Ed S.

"Hi Ed,
Nice to hear from you.

I have replied to your questions below:

1. I noticed on the latest weekly video in your discussion of your monthly LUV trade you didn't mention the upcoming earnings date, did you remember to get out before Luv reported earnings?

Yes I did. Whenever I enter a position that is near to earnings I put the earnings date of the chart and also if it is before or after the market closes. So yes I did get out.

2. In that same video you mentioned around minute 17 that you are using "About 1/2%" for position sizing. I'm not sure how you can do your various Stop calculations on "About 1/2%" don't you need a specific value?

I am not sure why I said about ½ of a %. My apologies. I do figure all of my position size and emergency stop based on ½ of a % of the total capital that I have on the day that I take the trade. This is very conservative but I do trade large accounts and this risk percentage fits my personality and risk tolerance nicely.

3. Once again, in that video, you mention that "92% of prices hold on or tend to go up at the -3rd ATR Channel". I've searched the internet fairly well and I can find no mention of that 92% level anywhere. Did you perform some personal backtesting study to determine that number? Can you provide the source? Is it specific to only Keltner Channels that are based on 20 period moving averages, or does it apply when the moving averages are at different levels?

I learned this percentage from Dr. Alexander Elder. I studied with him one on one for three days and he is who taught me about Keltner channels and their chances of holding certain levels. For example the 2nd Keltner channel hold prices 88% of the time.

I hope this helped answer your questions.
If you have any more please just let me know.
Hope that you are doing well Ed!

General Discussion · Gossett Trading & Mentoring - 2/12/22 - Review of last week's stock trades & potential stock trade set ups for the upcoming week
nibor100
msg #159014
4/29/2022 6:43:25 PM

@davesaint86,

In regards to my question 2, thanks for the spreadsheet visual but my question to him was basically how do you substitute the phrase "about 1/2%" for either your 5,000 number or the 10,000 number. I was kind of asking a facetious question....

In regards to my question 3, I had the same understanding about what he meant by the 92% at both 3 ATRs.
However, what I really want to know, is where he got the 92% from, as a well known trader, Linda Bradford Raschke, with many more resources than Gossett; did a write-up on Keltner Channels based on 20 period moving avg and found that 95% of prices are contained within 2.5 ATRs.

Remember your are dealing with a part time inquiring mathematician here....as put in a famous tv series from long ago "Just the Facts Mam, Just the facts"

Thanks again,
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
nibor100
msg #159012
4/28/2022 4:09:43 PM

@davesaint86,

I agree with your "What I'm doing different" approach as I think he trades a bit too much unless he's doing so to keep advertising his One on One course.

I've sent him another email with questions as shown below:
If he answers those I'll be sending him some more as the more I watch his weekly videos the more questions come to mind.

"Hey Gregg,

Thanks for you reply and I do have more questions and will probably continue to have more in the future :)

1. I noticed on the latest weekly video in your discussion of your monthly LUV trade you didn't mention the upcoming earnings date, did you remember to get out before Luv reported earnings?

2. In that same video you mentioned around minute 17 that you are using "About 1/2%" for position sizing. I'm not sure how you can do your various Stop calculations on "About 1/2%" don't you need a specific value?

3. Once again, in thiat video, you mention that "92% of prices hold on or tend to go up at the -3rd ATR Channel". I've searched the internet fairly well and I can find no mention of that 92% level anywhere. Did you perform some personal backtesting study to determine that number? Can you provide the source? Is it specific to only Keltner Channels that are based on 20 period moving averages, or does it apply when the moving averages are at different levels?"

thanks,
Ed S.



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