StockFetcher Forums · Filter Exchange · Anyone uses Connor's High Probability ETF Trading?<< 1 2 3 4 >>Post Follow-up
drew9
171 posts
msg #84316
Ignore drew9
12/12/2009 12:16:40 PM

Forgot to mention one item, Connors advocates buying and selling the stocks using his strategies at the close. I do not have the ability to pull up screens at 3:45 PM each day and then purchase/sell the the applicable stocks. My results were based on SF buying at the open the next day and selling at the open the day after RSI(2) crosses 75. It is possible that the results could be better if you can buy at the close but there is no way for me to test it. I will say though that I do believe after looking at hundreds of charts that the results are better selling at the open the next day!

duke56468
683 posts
msg #84317
Ignore duke56468
modified
12/12/2009 12:41:41 PM

Bar Tune
Can you tell us at what RSI(2) level you used as entry and on what time frame? Thanks

davesaint86
268 posts
msg #84339
Ignore davesaint86
12/12/2009 7:40:57 PM

PVX is another good stock to trade when the RSI(2) drops below 20. You usually do not have to wait for it to drop below 10.. It's usually good for a 1% or higher gain. I sold my PVX on Friday that I purchased for $6.32 for a 3.27% gain. Also PVX pays a distribution dividend of over 10% per year. See below.

Provident Energy Trust (Provident) (TSX:PVE.UN - News) (NYSE:PVX - News) today announced that its December cash distribution of $0.06 per unit is payable on January 15, 2010 and will be paid to unitholders of record on December 22, 2009. The ex-distribution date will be December 18, 2009. The Trust's current annualized cash distribution rate is $0.72 per trust unit. Based on the current annualized cash distribution rate and the TSX closing price on December 10, 2009 of $6.89, Provident's yield is approximately 10 percent.

For unitholders receiving their distribution in U.S. funds, the December 2009 cash distribution will be approximately US$0.06 per unit based on an exchange rate of 0.9507. The actual U.S. dollar distribution will depend on the Canadian/U.S. dollar exchange rate on the payment date and will be subject to applicable withholding taxes.



davesaint86
268 posts
msg #84340
Ignore davesaint86
12/12/2009 7:44:35 PM

http://www.finviz.com/quote.ashx?t=pvx&ty=c&ta=1&p=d

I forgot to add the chart. I like where the price is sitting at resistence.

Dave

richo
74 posts
msg #84348
Ignore richo
12/13/2009 9:56:40 AM

Drew9

Can you list your watchlist of 20 ETFs

Thanks

Rich

miketranz
716 posts
msg #84350
Ignore miketranz
12/13/2009 10:43:56 AM

Chet,I would like to ck out the Gil Blake filter,but its only available to advanced members.Can you tweak it so the regular members can see it? I'm assuming you read about Gil Blake in "New Market Wizards".In this filter,are you scanning for follow through days,after a long range day appears? If so,is this method still valid in today's market,as a high percentage play? Blake states he would not take a trade unless it was at least 70% or more in his favor.Thanks ,Mike.........

pirate67
99 posts
msg #84351
Ignore pirate67
12/13/2009 11:19:21 AM

Does Connor say anything about stop lossses or getting out of the 10-30% of his trades that don't make it using his various strategies?

chetron
2,817 posts
msg #84352
Ignore chetron
modified
12/13/2009 11:33:52 AM

@ miketranz,

SORRY, NO ON BOTH COUNTS.

I SEARCHED THE WEB AND FOUND AN EXCERPT OF GIL'S, THAT'S ALL I WENT ON.
I CAN'T TWEAK THE FILTER ANY MORE, BECAUSE I NEEDED TO COUNT THE RESULT OF A PREVIOUS 2 COUNTS TOGETHER, THE FILTER WAS KICKED UP A NOTCH.

BarTune1
404 posts
msg #84353
Ignore BarTune1
12/13/2009 11:34:12 AM

Duke,

I normally only consider ETFS that are RSI(2) < 2 or >98. I try to enter either on a pull back or short when they are up again. I also work, so there is not a definative time at which I enter. Sometimes I will enter a limit order to enter if I am tied up during the day. Then I have to take a guess at the lower side if buying. I had other orders in this past week that did not fill.

I also consider the %B, the looks of the chart and whether the market is overbought or oversold at the time.

It would be difficult to quanitify all this as most of it has come from experience. You simply have to get a feel for the market which you can only do trading lots and with real money.

I traded a number of other stocks successfully this week like AMZN. But there, I'm normally scanning for RSI(2) <1 or RSI(2) >99.

I'm no expert ... just a part time trader enjoying some success supplementing my income.

duke56468
683 posts
msg #84361
Ignore duke56468
modified
12/13/2009 1:00:17 PM

Bar Tune
Thanks for sharing. Do you usually trade off the 1hr time frame on your chart or shorter time frames? You are right paper trading is OK for a short time but nothing teaches faster than putting up real (hard to come by) MONEY.

StockFetcher Forums · Filter Exchange · Anyone uses Connor's High Probability ETF Trading?<< 1 2 3 4 >>Post Follow-up

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