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Filter Exchange · best % gainer is by far in back testing
ranbaker
msg #27050
6/25/2003 12:00:10 AM

Backtesting if fine for entertainment purposes. If one tinkers long enough they can get extremely high % results. Since I am not a historian I try to keep my scans to that which provides a list of charts that may be ready to play. Backtesting and then using that criteria for future results generally falls far from what the back test came up with.

Fact is that if their was one "holy Grail" it would soon cease to continue working. For example, lets say we all new the bottom of a stock was 25 bucks, and it tops at 26 bucks. Well pretty soon folks would be selling a little bit earlier to get out before someone else, and continue more and now it tops at 27.50, etc., until it fails completly.

I have found that their are many ways to play and win at this game. But S/R is still king. Find your support and resistance areas and use'em. A visual on the chart is often the best way.

Want to go long? Wait for resistance to be broken, enter your position, place your stop behind support, and see what happens. You'll win some and lose some.

Want to short? Wait for support to be broken, enter position, and place stop behind resistance, and see what happens. You'll win some and you'll lose some.

You can centainly play off support and short off resistance as well. And naturally your stops are pretty easy to find.

Let your risk managment preserve your capital and you'll still be able to have more losing trades then winning and come out many $'s ahead.

It's more important to learn How To Trade then What To Trade!

Personally, I can be wrong 66% of the time and still break even.

Anyway, SF is a great site. I enjoy tnkering too ;)

ranbaker@attbi.com






General Discussion · Day Trading
ranbaker
msg #27047
6/24/2003 2:10:20 PM

Petro, I look for range breaks, breakouts, and PB to the 20ma for strong trending stocks. Set ups happen every day. Never seems to be a lack of them.

I limit my world to the S&P500, and Naz100, stocks trading with a min volume of 500k, an ATR min of 1.2, and price between $25-$65 though I do trade above the $65, especially with hime builders lately. But very very rarly trade stocks less then $25.00. Short or long makes no difference to me. I trade the chart. I try to trade what I see, not what I think should happen. Also, I know my stop before entering a trade. My risk is the same for every trade I take.

I prefer to swing, but DT and occasionally scalp.


ranbaker@attbi.com


General Discussion · Just Buy It!
ranbaker
msg #27033
6/23/2003 9:56:51 PM

I generally swing and day trade, so am looking for min. moves of around 3 points. So, it may not pertain to your situation. However, I recommend using a limit order with a price that is a little above the bid. This will act as a market order with a limit for added protection.

When a stock triggers a position I want to enter asap. So, let's say is $45.12 x $45.15, I will enter a limit of say $45.21. This says buy with a market order but pay no more then $45.21. Most times you will get price improvement. You will get the best price like a market order. For me a nickle is not worth missing the larger run. Playing only the bid will miss many of the "best" runners.





General Discussion · low budget trading
ranbaker
msg #27032
6/23/2003 9:47:53 PM

Here is my opinion for what its worth. Trading penny stocks is far risker then trading better quality stocks. I much rather trade 100 shares of a quality stock then 1000 shares of a penny.

I see this common mistake amongst new traders. Many new traders seem to flock to trading penny stocks because they can buy a large number of shares. Most don't even realize the risk they are assuming when trading pennies. Heck, most don't even use a stop or know where to place them. However, if you are going to play them at least understand your risk and develop a risk managment system that fits your budget.

You can make a pretty good income from a low risk of $250 dollars even. Most of my trading friends risk an avg of $500 per trade. So when you buy 5000 shares of a .25 cent stock what are YOU risking? Hmm, lets take a look. Lets say I buy 5000 shares of a $1.00 stock. I went long at $1.00 I see the best stop at .75. So thats a 25 cent stop. So if stopped out you will lose $1,250.00 Ouch!!

Oh well, I am not here to lecture.. Just trying to save someone a few bucks ;)

Ranbaker@attbi.com





General Discussion · Day Trading
ranbaker
msg #27030
6/23/2003 9:35:12 PM

I have been trading for a number of years now. As far as trading the news, I try to avoid news plays all together. One of the common mistakes many new traders make is playing news, and playing penny stocks. My advice is to trade the chart. Trade what you see and not what you expect to happen. Trying to "guess' how the market will respond to news can be a tough job.


General Discussion · Income Tax Reporting
ranbaker
msg #26808
6/9/2003 9:49:16 PM

http://www.greencompany.com/Traders/Software.shtml


General Discussion · How to scan within the naz100 and s&p500
ranbaker
msg #26806
6/9/2003 8:13:23 PM

Is it possible, and if so, what is the format to scan within the naz100 and s&P500 only?

Thanks!!


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