StockFetcher Forums · Filter Exchange · Any ideas?<< >>Post Follow-up
11 posts
msg #59495
Ignore makabootycall
2/6/2008 10:30:49 AM

win 22% <--------------disgusting BUT.....
lose 60%
ROI 5452.95% <-----------------similar percentages through the years
reward/risk 3.05
I am using a 100% profit stop and a 5% stoploss with a max holding period of 1 clearly this filter does NOT find winners, however with the profit stop and stop loss, the back test has shown excellent monetary gains. here is the filter
find stocks where close is greater than .01
and where close is less than .05
and atr(3) is greater than .009
and add column avg volume(14)
add column atr(5)
add column high minus low
add column high 1 day ago minus low 1 day ago

and the advanced options
Select by atr(3) descending
entry/exit: open

Would an approach such as this be viable?

64 posts
msg #59513
Ignore dkatz
2/6/2008 9:00:45 PM

probably not --- execution prices would be the issue --- you have to factor in the bid/ask spread, what price do you get in at and out at etc ... it's hard enough on high priced stocks to pinpoint your entry price, with penny and sub-penny its even harder, also you can't short these puppies in the real world --- has to be on the shorting list for your broker and anything under $5 doesn't qualify as far as I know

724 posts
msg #59514
Ignore 13th_floor
2/6/2008 9:23:14 PM

With IB you can short any price stock,even the true pennies,not always a ton of shares but if you're fast you can gobble some up most times.

Here's one straight from my IB short available list.

DPAC @ .02

Symbol: DPAC
Availability: 300'000

11 posts
msg #59519
Ignore makabootycall
2/7/2008 8:23:35 AM

I have no intentions of shorting, although with such lopsided performance numbers, shorting wouldn't be a bad idea, if you could short penny stocks. Can penny stocks be purchased using a direct access electronic trading system? In my short trading experience, precise price entry was as simple as a click when the desired price was reached. Perhaps you should consider finding a TRUE direct access broker (most the online brokers advertise using a SIMILAR description are NOT). In order to get around the pattern day trader rule, I used offshore broker with direct access availability, execution was literally as fast as one could click (I only traded on NASDAQ because NYSE, more specifically their execution process does nothing but rob you of precious profit). But I don't know if penny stocks even have the possibility of being bought like, as they aren't generally on NASDAQ.

724 posts
msg #59527
Ignore 13th_floor
2/7/2008 11:27:31 AM

Myself I have no qualms with shorting pennies on IB.
I only short down as low to the .30 ones and almost always get my short shares.

Right now I have ROHI short from .54 and SCEY from 1.37 and added more to my MIVA short at 2 here at 1.75

StockFetcher Forums · Filter Exchange · Any ideas?<< >>Post Follow-up

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