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Filter Exchange · bollinger bands
msg #26347
5/1/2003 6:28:53 PM

You got it exactly right, Wallman. I was trying to figure out how much to put into each trade so I would come close to exhausting my allotment but still have enough for the trade of the day. I saw something today that was interesting. I paper traded ROV on 4/28 (in @ 10.67). The low today went to 10.00. That was below the 5% stop. It closed @ 10.17. That's above the stop. From what you said B4 you would still be in the trade because you do not want to stop out intraday. Do I have that right? The only reservation I have about this is not having physical stops on these super-volatile stocks. This is great fun!!!

Filter Exchange · bollinger bands
msg #26339
5/1/2003 9:40:21 AM

Wallman, Thanks again. I have been using use sytem for 3 days and haven't sold any yet but they are all green! I'm taking a liking to it for sure. Discipline will be the name of the game. One more question.... What do you think is a typical holding time for this system. I'm asking because of money management. If I set a fixed amount for this system, it would help to get an idea of approx. how many positions I could be holding on average. My guess from what I can already see is about 8-10 days. That would equate to 8-10 positions so a good amount to invest in each stock would be about 10% of the allocated funds for this system. Am I close?

General Discussion · Tools Of The Trade
msg #26319
4/28/2003 8:40:32 PM

Stockfetcher (Technicals)
SmartMoney Screener (Fundamentals)

Filter Exchange · bollinger bands
msg #26317
4/28/2003 2:17:18 PM

Thanks for the info, Wallman. One more area of concern for me. Do you place your stops GTC or Day? I never can decide if the risk of keeping a stop in place overnight is worth the risk of gapping under it at the open. And if it does, is it best that I stopped out even if the price is well under the stop price. Or would it be best to look for a recovery after the gap?

Filter Exchange · bollinger bands
msg #26311
4/27/2003 9:17:36 AM

Thanks, Wallman!!!!! I was just doing some historical scans and it occurs to me that when the index 200 day moving average is down-trending, would this scan not work well in reverse for selling short? Needs more study but it seems the returns would be better in a down-trending market. This may be obvious but I'd like to hear if anyone has tried it. Also, Wallman, do you take a lot of short term (1 or 2 days) gains and get out?

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