StockFetcher Forums · Filter Exchange · Filter for one week return: good features<< 1 2 3 >>Post Follow-up
newskate
29 posts
msg #27390
Ignore newskate
7/15/2003 10:02:51 PM

Jim, you mention the term "money management" in your post - I've seen it elsewhere as well - what does that mean exactly?

Stephen


jim_c_hill
61 posts
msg #27402
Ignore jim_c_hill
7/16/2003 12:23:35 PM

Stephen
The term "money management" broadly deals with the concept of risk versus profit and how to manage your portfolio so that it achieves your financial goal.It can be as simple as ensuring that every stock you purchase has a stop loss of say 8-10%, or that you invest no more than 2% of your capital in a single stock and have a portfolio of at leas 8-10 stocks. It can be more complex and use sophisticated concepts such as optimal sizing versus capital, or using seasonality of the market to help you with risk/reward. You want to ensure that you do not risk your capital in such a way that you enhance your opportunity to lose your capital. Obviously, one can take enhanced risks but the reward must have very enhanced. If taking this route one has to limit losses quickly.

If you are new to the field, then you should consider the simple ideas first: Always protect a position with a stop loss, not a mental stop loss, and limit your investment in any single stock.

Jim



sf4drp
4 posts
msg #27404
Ignore sf4drp
7/16/2003 3:18:55 PM

Jim,
How do you achive following? (BTW: I am quoting this from your post on 7/15/2003 2:03:02 PM )

" To convince yourself that it does fairly well, even in down markets, start with Wednesday May 15, 2002 in a performance test starting date (around 288 days back as of this date, July 15th) and then start moving forward using the one day forward button. Do this one day at a time for many weeks. It actually shows many positive days in very negative markets; not every time, so money management is necessary, but in most it does well. It will also do well in bull markets, again not perfectly. Many times it will choose only one or two stocks. So, it will be a win or loss but easily followed. "

Can you do this under StockFetcher ? or is that a some different tool you are using ?

-Thanks,
DP


newskate
29 posts
msg #27405
Ignore newskate
7/16/2003 4:10:07 PM

Jim, thank you for your time. This has all been so helpful. If you don't mind, I'd like to share my thinking and results thus far for your (and others) input. Here goes!

I've been paper trading for about 6 weeks with the intent to launch into the market with $25M as a starting point, likely at the end of the summer.

I've tried quite a few strategies using filters here and from other sites, the ones here have been most helpful, but many do work. I believe the up / steady market has helped, so I've been testing every filter I've come across from Jan 1 this year to account for down times. My goal is to "quit" work in 2 years, believing if I average 3% / week gain, I can do this and make investing my full time job.

My approach has been to look for 1 to 10 day buy / sell cycles using various filters. I'm always invested across 8-10 stocks and use upper limits to capture profits. I've not been using down limits as I only buy stocks that I believe will reach the upper limit in some short amount of time. I'm running about 80% win/loss with some portfolios better than others. I've not been looking at the charts all along before I buy, but when I've started doing critiques, I've discovered I'm becoming comfortable seeing things that should've happened, etc. The charts are helping greatly and are becoming the way I do business.

I worry at times being able to follow some of these strategies when my profits add to the trading power. So I'm working on larger volume searches as well as some of the lower priced / lower volumes I've found recently.

I'm trying to stick with a few indicators and become more comfortable with them, versus adding new. I'm a technogeek anyhow, so the curiosity is painful, but I also know that there's a ton I don't know so I'm trying to focus. 2 of my best friends are joinging me in this quest, so we're helping each other as well.

Thus far - my worst portfolio is meeting my goals. The best one is up 30% in the last month, and I have another up 18% since I started 2 weeks ago. Not bad on paper - soon the game really begins.

I've not selected a broker yet, all seem to have something good. Most of the less expensive ones I've never heard of so I'm nervous about that. But, I do know commissions can be killers. Good thing the above results are inclusive of $10 per trade, both ways.

Any insight and critique is welcome. I'm not sure why but I'm amazed at how helpful eveyone has been, sometimes I think such a bad picture is painted that we assume we're on our own. My payment is to help others as best I possibly can

Stephen


newskate
29 posts
msg #27406
Ignore newskate
7/16/2003 4:39:05 PM

Jim, thank you for your time. This has all been so helpful. If you don't mind, I'd like to share my thinking and results thus far for your (and others) input. Here goes!

I've been paper trading for about 6 weeks with the intent to launch into the market with $25M as a starting point, likely at the end of the summer.

I've tried quite a few strategies using filters here and from other sites, the ones here have been most helpful, but many do work. I believe the up / steady market has helped, so I've been testing every filter I've come across from Jan 1 this year to account for down times. My goal is to "quit" work in 2 years, believing if I average 3% / week gain, I can do this and make investing my full time job.

My approach has been to look for 1 to 10 day buy / sell cycles using various filters. I'm always invested across 8-10 stocks and use upper limits to capture profits. I've not been using down limits as I only buy stocks that I believe will reach the upper limit in some short amount of time. I'm running about 80% win/loss with some portfolios better than others. I've not been looking at the charts all along before I buy, but when I've started doing critiques, I've discovered I'm becoming comfortable seeing things that should've happened, etc. The charts are helping greatly and are becoming the way I do business.

I worry at times being able to follow some of these strategies when my profits add to the trading power. So I'm working on larger volume searches as well as some of the lower priced / lower volumes I've found recently.

I'm trying to stick with a few indicators and become more comfortable with them, versus adding new. I'm a technogeek anyhow, so the curiosity is painful, but I also know that there's a ton I don't know so I'm trying to focus. 2 of my best friends are joinging me in this quest, so we're helping each other as well.

Thus far - my worst portfolio is meeting my goals. The best one is up 30% in the last month, and I have another up 18% since I started 2 weeks ago. Not bad on paper - soon the game really begins.

I've not selected a broker yet, all seem to have something good. Most of the less expensive ones I've never heard of so I'm nervous about that. But, I do know commissions can be killers. Good thing the above results are inclusive of $10 per trade, both ways.

Any insight and critique is welcome. I'm not sure why but I'm amazed at how helpful eveyone has been, sometimes I think such a bad picture is painted that we assume we're on our own. My payment is to help others as best I possibly can

Stephen


risjr
123 posts
msg #27641
Ignore risjr
8/1/2003 6:22:57 PM

Hi jim c hill

I've run your filter, and it works fantastic! But I'm getting some major errors on date offsets. I run it with minor modifications, price .75 to 5, and I'm getting stocks dropping off after same day screening. And I also get stocks that are being added after just a few days, that never appeared before, at all, in anyway shape or form!!

If you run this filter and change the price from between .75 and 5.00, one selection has done over 300% WAVX, but it was not on the initial screen on close of business tuesday, 29 jul 03. I wish it was!! Tickers seem to drop off, and appear at random!!

Can you provide any help? Or do we have some serious flaws when backtesting filters??

Thanks for a great filter!!


risjr


muddytraks
40 posts
msg #27642
Ignore muddytraks
8/1/2003 9:03:29 PM

I have been having good luck with this one. Show stocks where Average Volume(90) is above 80000 and close is between .2 and 50
and close is less than 15% below the close 52 week high and accumulation distribution has
been increasing over the last 1 day and high is greater than high 1 day ago and open is
greater than close 1 day ago and close is greater than close 1 day ago and close is above
day position(0.50) and close is greater than open and low is greater then low 1 day ago
and close is greater than high 1 day ago and volume gained more than 70 percent over the
last 1 day


TheRumpledOne
6,362 posts
msg #27652
Ignore TheRumpledOne
8/2/2003 2:14:13 PM


Good luck with your filters and trades


muddytraks
40 posts
msg #27668
Ignore muddytraks
8/3/2003 1:45:00 PM

Heres my filter. I simply look thru the stocks that shoe up and come up with some mighty fine plays ready to breakout. HERE, close is less than 5% below the 6 week high close and volume is greater than 100000 and close is greater than .2 and Closing price gained more than 1 percent over the last 1 day and volume gained more than 10 percent over the last 1 day


JoeGrossinger
165 posts
msg #27674
Ignore JoeGrossinger
8/4/2003 12:37:13 AM

The discussion has drifted from an extremely valuable filter.
I tried the last filter on page one but found it not anywhere near in performance from the original.

In looking at the rare failures it seems to me there are two things to look for.

1. The open must be higher on the day you buy than the day before when the scan was made.

2. The volume must be higher on the scan day than the day before.

The original filter does not return very many hits and that is fine because the ones it does are highly accurate.

The first filter in this thread deserves to be paper traded and commented on. It deserves study and probably will make folks a lot of money.

jim_c_hill deserves a lot of credit for developing this filter and a huge thanks for publishing it.
Thanks Jim, you did a great job!


StockFetcher Forums · Filter Exchange · Filter for one week return: good features<< 1 2 3 >>Post Follow-up

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