StockFetcher Forums · Filter Exchange · How to finding stocks to daytrade<< 1 2 3 4 >>Post Follow-up
clam61
92 posts
msg #44112
Ignore clam61
5/23/2006 10:23:35 PM

im beginning to get better at using linear regression, rsi(2), ema(150)

so far i have been trading TIE because it is somewhat volatile during the day

i want to find stocks that ....

are volatile
and are trending steadily upwards like TIE and ERS used to do.


using "X day slope of price is above 0" or "ma(X) above 0" does not necessarily guarantee an even descent, just that the overall price has been increasing.

how to write a filter to find a stock that has been ascending evenly for x period of days and that on average fluctuates in price x% each day?


stocktrader
293 posts
msg #44115
Ignore stocktrader
modified
5/24/2006 12:55:15 AM

The Next NTRI trend filter is pretty good for this. They have to be traded though.

With the way the market has been lately.......
Everyday I screen two groups of stocks for the following day.
Those that are more than +10% and -10% for the day.
These are very volatile, in a daily sense.

As example, today the 23rd I "shorted" PEIX at resistance R2 for +$700 in just 14 minutes.
Everyday, play the highs and lows.

This is pretty risky and one has to be very alert and watch the indicators.

good luck.

11:03:03 >> <EXECUTION> Bought 2000 shares of PEIX @28.9325 at 11:03:04 using Short account
11:03:03 >> Order to [Limit Buy to Cover 2000 shares of PEIX] was received and confirmed with [XZA6575200
11:03:03 << Sending [Limit Buy to Cover] order for [2000 shares of PEIX] [Day] [RegSession] [Limit @28.95]
10:49:48 >> <EXECUTION> Sold Short 300 shares of PEIX @29.32 at 10:49:48 using Short account
10:49:48 >> <EXECUTION> Sold Short 1000 shares of PEIX @29.32 at 10:49:48 using Short account
10:49:48 >> <EXECUTION> Sold Short 100 shares of PEIX @29.32 at 10:49:47 using Short account
10:49:48 >> <EXECUTION> Sold Short 100 shares of PEIX @29.32 at 10:49:47 using Short account
10:49:47 >> <EXECUTION> Sold Short 100 shares of PEIX @29.32 at 10:49:47 using Short account
10:49:47 >> <EXECUTION> Sold Short 100 shares of PEIX @29.32 at 10:49:47 using Short account
10:49:36 >> <EXECUTION> Sold Short 100 shares of PEIX @29.32 at 10:49:36 using Short account
10:49:36 >> <EXECUTION> Sold Short 100 shares of PEIX @29.32 at 10:49:36 using Short account
10:49:36 >> <EXECUTION> Sold Short 100 shares of PEIX @29.32 at 10:49:36 using Short account
10:49:23 >> <ORDERUPDATE> Order [Sell Short 2000 shares of PEIX] [XMB687620060523] was updated w
10:49:23 >> Order Modify for [Sell Short Limit 2000 shares of PEIX] was received and confirmed with [XMB687
10:49:22 << Sending Modify for [RegSession] order [XCA159720060523] [old limit=29.35, new limit=29.31]
10:48:41 >> Order to [Limit Sell Short 2000 shares of PEIX] was received and confirmed with [XCA159720060
10:48:41 << Sending [Limit Sell Short] order for [2000 shares of PEIX] [Day] [RegSession] [Limit @29.35]





glm47
51 posts
msg #44117
Ignore glm47
5/24/2006 12:55:18 AM

Firstly, using a indicators which are so widely disparate (148 periods) is very unlikely to yield any patterns that are even remotely reliable. If you are going to use the RSI(2), you probably want to use it in conjunction with indicators which use periods of no more than 30 days. In fact, I would suggest you use combinations of indicators of 2,7,10,20,and 30 periods together to get a much better clearer pictire of what is going on.

Secondly, you are not going to find too many stocks that ascend evenly. I suspect the only reason they may look 'even' is because you are looking at them through charts of long time frames. Take the time to study charts in many different time frames to get an undertanding of how the same ascent or descent looks from various perspectives, it will open your eyes to a whole new world. If you look at any Daily chart with 5 minute candles/bars, it will look anything but 'even'.

Go here and put in a symbol:

http://www.prophet.net/analyze/javacharts.jsp

Click the Detach button and play around looking at it on minutely, hourly, daily, weekly, monthly and yearly charts.

Finally, I want to respond to a couple of your recent posts...

I quote 'I'm sure you are aware of this, but what other signal do you look for to make sure the bottom is absolute? Looking at support can help, but that seems to work w/o the use of RSI(2)'

There is no reliable indicator that shows absolute bottom or top of a trend. If there was, once again we would have no stock market. Don't waste your time looking for one. What you need to do is spend the time to read as much of the archives as you can and take the time to learn how many of the indicators work by applying them to your own charts. Once you get an understanding of how many of them work, you will be in a much better position to decide which ones are most reliable for you. There is no Holy Grail.

Quote two 'You "wait for green"? but what does green mean? Intraday green or after the closing bell green? Because it might jump a little during the day and then continue to fall, just as the QQQQ did today.'

The QQQQ along with EVERY other stock in every stock market 'jumps a little during the day and continues to fall.' Now, thats not to say that often times many of them at some point reverse and head north and into positive territory again, but none of them head north without a few hiccups along the way. It appears you seem to believe there is some magical indicator that will let you avoid what is essentially typical market movements and zero in on only the movement you like. I will say it again, Don't waste your time looking for it, you won't find one...

This response ended up being a little more critical than I anticipated but I feel the need to drive home some points that I have learned from the numerous trading talent that frequents this forum. It seems to me that at this juncture in your trading endeavors, you are a trying to find a quick and easy way to profits.

My advice to you is to take the time to study the stock market through the use of numerous highly regarded books, study numerous TA indicators on thousands of charts and read the entire contents of the archives on this forum. During this time you should also be testing your strategies on trading simulators (Investopedia/Zacks) and through other forms of paper trading. If, like most of us that are starting out, you do not have $25K to fund your account, you should have plenty of study opportunity while building your account through limited (Pattern Day Trader) constraints.

If you take the time (many months) to learn and understand how the stock market works and how to use the multitude of tools which can assist you in measuring it, you stand a much better chance of becoming one of the 2% of Daytraders that make it. If you insist on rushing into the market using a few pointers you found on a forum, you will most certainly become of one of the 98% that do not...




glm47
51 posts
msg #44118
Ignore glm47
5/24/2006 1:02:58 AM

Stocktrader, thank your lucky stars you didn't lose your internet connection or have to make an emergency visit somewhere during that Short!!

PEIX was up 17% on the day, you're azz would have been hurting...lol


stocktrader
293 posts
msg #44119
Ignore stocktrader
modified
5/24/2006 1:17:14 AM

You're right :)

It was quite a ride!

Dip in and out....

The indicators were pegged and I was at R2. Pretty confident it was headed down. Covered into downward strength.



stocktrader
293 posts
msg #44120
Ignore stocktrader
modified
5/24/2006 1:36:16 AM

Oh, and since PEIX did more than +10% today....
It is a potential play for tomorrow, and maybe a better short play.

PEIX was more than -10% on the 22nd and more than +10% on the 23rd. That is a stock that can move!



heyen
124 posts
msg #44131
Ignore heyen
modified
5/24/2006 8:38:03 AM

Quote: "There is no substitute for experience, and experience ends up costing you."
(SSChart)

Otherwise there would be no motivation for learning

;-)



clam61
92 posts
msg #44146
Ignore clam61
5/24/2006 5:00:22 PM

glm47,

thanks for taking the time to help me.
I want to discuss some of the things you said.



"Secondly, you are not going to find too many stocks that ascend evenly. I suspect the only reason they may look 'even' is because you are looking at them through charts of long time frames. Take the time to study charts in many different time frames to get an undertanding of how the same ascent or descent looks from various perspectives, it will open your eyes to a whole new world. If you look at any Daily chart with 5 minute candles/bars, it will look anything but 'even'. "
----------------------------------------------------------------------------------------------------------
Sorry, I mean evenly from a daily perspective. If you look at ERS and TIE, they had periods of even ascent compared to something like AAPL


"I quote 'I'm sure you are aware of this, but what other signal do you look for to make sure the bottom is absolute? Looking at support can help, but that seems to work w/o the use of RSI(2)'

There is no reliable indicator that shows absolute bottom or top of a trend. If there was, once again we would have no stock market. Don't waste your time looking for one. What you need to do is spend the time to read as much of the archives as you can and take the time to learn how many of the indicators work by applying them to your own charts. Once you get an understanding of how many of them work, you will be in a much better position to decide which ones are most reliable for you. There is no Holy Grail. "
----------------------------------------------------------------------------------------------------------

When I said "what other signal do you look for to make sure", I meant "what other signal do you look for that is a signal". I realize there are no absolutes and nothing in the stock market can be predicted 100%. As of right now, I use RSI(2) < 1, I look at trendlines, I use the ema(150), support and resistance levels. Anything else?



"Quote two 'You "wait for green"? but what does green mean? Intraday green or after the closing bell green? Because it might jump a little during the day and then continue to fall, just as the QQQQ did today.'

The QQQQ along with EVERY other stock in every stock market 'jumps a little during the day and continues to fall.' Now, thats not to say that often times many of them at some point reverse and head north and into positive territory again, but none of them head north without a few hiccups along the way. It appears you seem to believe there is some magical indicator that will let you avoid what is essentially typical market movements and zero in on only the movement you like. I will say it again, Don't waste your time looking for it, you won't find one... "
----------------------------------------------------------------------------------------------------------

I realize there is no magic indicator. It has been said that using RSI(2) < 1 and waiting for green is a very solid sign to jump in long. However, I am asking how it is a sign to go long when it can just as easily head south. I am asking why waiting for green will give you an edge, even if the RSI(2) is < 1. I was hoping TRO or someone else knowledgeable could explain why waiting for green gives an edge


clam61
92 posts
msg #44147
Ignore clam61
5/24/2006 5:02:50 PM

Today I shorted and went long on TIE.


I used a 1 minute period chart and RSI(5), as well as RSI(2) on a 5 minute period chart

It worked well except for two times where the RSI was very high/low and the stock kept running/falling.

This happened when the stock changed a trend


clam61
92 posts
msg #44148
Ignore clam61
5/24/2006 5:10:36 PM

for people that use rsi(2), what period chart do you use it on? i find that a 1 minute chart is too short of a period.


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