StockFetcher Forums · Filter Exchange · MONDAY GAP UP AND GAP DOWN TRADING SYSTEMS<< 1 ... 10 11 12 13 14 >>Post Follow-up
Kevin_in_GA
4,553 posts
msg #105187
Ignore Kevin_in_GA
2/29/2012 2:08:01 PM

Update:

Monday Gap Down Candidates:

FIRE - Gap filled for a gain of 2.20%
EMKR - Gap not filled, currently at a loss of -9.8%
CKP - Gap filled for a gain of 2.06%

Monday Gap Up Candidates:

DYN - Gap filled for a gain of 2.00%
CLDX - Gap filled for a gain of 2.28%
CPST - Gap filled for a gain of 3.33%

5 of 6 filled. Right now EMKR is still in play, although I expect that it will end at a loss and drag the profit down. Right now assuming an equal bet on each, the net is profitable.

mahkoh
894 posts
msg #105188
Ignore mahkoh
2/29/2012 2:09:49 PM

If IB is your broker sign up for the new add ons. Its $39 a month and waived if you paid $100 on commissions. With it you get the ability to display some 150 symbols simultaniously . Copy the SF lists into IB pages, add column gap and sort by it.

jnafach
74 posts
msg #105255
Ignore jnafach
3/5/2012 12:08:22 AM

Hi Kevin, ho can you guarantee to buy at opening price, as if yoy put open markt price you can not, nd if you put limit you may not meet that

csupati
25 posts
msg #105351
Ignore csupati
3/10/2012 1:02:20 AM

I am in TradeMonster.
It is not possible to upload a list of symbols for alert, so I put the first 10 of the Russel 2000 screening results manually with the defined limit price to open on Monday (PANL, GPOR, ATPG, SMP, TWI, GLNG, ICGE, GEOI, FIRE and MOVE (BRY I omitted because the price was above 50$).
During the first couple of hours on Monday 7 out of 10 were triggered. 6 out of 7 triggered closed the gap during the week and the positions could be closed with about 2% gain (TWI, GEOI, ATPG, PANL, MOVE and GPOR). Only GLNG had to be closed on Friday with -1.6% gain (loss).
So far so good, thanks Kevin.

csupati
25 posts
msg #105491
Ignore csupati
3/17/2012 4:00:03 AM

Hi everybody,

This is my experience reg this system during the last twoo weeks (I was playing only with Monday Gap Down).
My method is the following:

1. I use another sorting criteria of the stocks that go to watchlist. For this I added some rows to the code:

set{pct1, gapdown80 / 80}
set{pct2, gapfill80 / 80}
set{chance1, pct1 + pct2}
set{chance, chance1 * 100}
add column chance{max chance}

Sorting by the column "chance". This takes into account not only the percentage of gaps filled (pct_gapfill), but both the number of gaps down and the number of gaps filled during the last 80 weeks (I do not see why 10 out of 10 should be better than 10 out of 11, or 11 out of 13, etc.)

2. I make the watchlist during the weekend and put the first X stocks (on the week 5 Mar I put only 10, on the next week 12 Mar I put 20) manually on the Alert section of my Trading Platform (TradeMonster). It does not allow to upload a CSV file as a whole, but it can alert me real time when the stock hits the limit entry price (0.98 x close previous week) I set for it. When it happends after the opening on Monday during the first 1-2 hours, I open the position manually with the limit to close price equal to close previous week.

Results:

Week 5 March: out of 10 stocks on alert 7 were triggered and the positions opened during the first 2 hours. 2 stocks closed the gap (not a real gap, probably would be more exact to call it difference between the opening price and the profit taking limit to close price) on the same day 5 March. Another 4 could be closed during the week and only one (GLNG) did not close the gap and had to be closed with 1.6% loss on Friday. The other 6 closed each with about 2% gain.

Week 12 March: out of 20 stocks on alert 12 were triggered and opened during the first hour on Monday. 11 positions could be closed during the week with 2% of gain each and only one (CVI) had to be closed on Friday with 0.2% gain by not hitting the 2% taking gain limit to close price.

It's very good so far, isn't it? Comments are appreciated.

mahkoh
894 posts
msg #105493
Ignore mahkoh
3/17/2012 4:44:47 PM

If I understand correctly you trade stocks that have MOVED towards the limit entry in the first 2 hours of trading and you select them using statistics for stocks that have OPENED below.

csupati
25 posts
msg #105499
Ignore csupati
3/18/2012 12:27:43 AM

Correct.
The symlist I am selecting the stocks from is the result of Kevin's original filter with slight modification mainly in the sorting principle (I do not use Kevin's "sharedlist" because of the difficulties to update it).
I select the first 20 stocks in the list and put them into the TradeMonster's Alert section with the condition "last price < limit entry". I do not actually care whether the stock opens below or above the previous week close, if it goes down and hit the limit entry price during the first 2 hours I open it.

This is the filter I use to select the list of stocks.

Fetcher[
/*KEVIN'S TRADE THE WEEKLY OPEN GAP DOWN STRATEGY - LONG PLAY*/

/*FIRST, SET KEY VARIABLES*/
set{horizontal1, weekly close 1 week ago}
set{horizontal, horizontal1*0.98}
set{trigger, close *0.98}
set{open1, weekly open}
set{prevlow, weekly low 1 week ago}

/*SECOND, DETERMINE IF A GAP DOWN OCCURS, AND IF IT WAS SUBSEQUENTLY FILLED*/
set{gdopen, weekly open}
set{gapdown, count(gdopen below horizontal,1)}
/*set{gapdown2, count(weekly open above weekly low 1 week ago,1)}
set{gapdown, gapdown1 * gapdown2} */
set{stats, count(weekly high above horizontal1, 1)}
set{gapfill, gapdown * stats}

/*THIRD, COUNT THE FREQUENCY OF GAPS DOWN THAT WERE FILLED OVER THE LAST 80 WEEKS*/

set{gapdown80, count(gapdown above 0.5, 80)}
set{gapfill80, count(gapfill above 0.5, 80)}
set{pct_gapfill, gapfill80 / gapdown80}
set{pct1, gapdown80 / 80}
set{pct2, gapfill80 / 80}
set{chance1, pct1 + pct2}
set{chance, chance1 * 100}


/*NOW ADD COLUMNS WITH KEY DATA AND SORT THEM FROM HIGHEST PERCENT GAP FILLED TO LOWEST*/
add column gapdown80 {Gaps down}
add column gapfill80 {gaps filled}
add column pct_gapfill {% of gaps filled}
add column trigger {limit entry}
add column chance{max chance}

sort on column 9 descending

/*SET A MINIMUM FREQUENCY FOR GAPS DOWN*/
gapdown80 above 5

/*STANDARD LIQUIDITY REQUIREMENTS*/
Market is Russell 2000
close between 5 and 40
average volume(30) above 100000
volume above 100000

/*Percentage gapfill requirement*/
pct_gapfill > 0.8

chart-display is weekly
draw gapdown
draw gapfill
]



novacane32000
273 posts
msg #105502
Ignore novacane32000
3/18/2012 8:16:14 AM

csupati
You are not waiting or rather looking for a gap you just want a 2% drop from the close on Friday-is that right?

I am wondering if the max chance statistics would apply here since there is no gap??

Correct me if I am wrong but the thinking here is that the stock price will return to the close of Friday just as in the gap study Kevin did??

Interesting.

Billirider321
62 posts
msg #105505
Ignore Billirider321
3/18/2012 2:14:09 PM

only concern with this strategy is when market is in meltdown mode. You will be triggering all the buysand no exit is planned. Other than that this is awesome plan.

csupati
25 posts
msg #105516
Ignore csupati
3/18/2012 11:09:03 PM

novacane32000

*** You are not waiting or rather looking for a gap you just want a 2% drop from the close on Friday-is that right?

Yes, correct. I was just wondering what if there is a gap less than 2% or even no gap but the stock goes down very quickly? Can it be considered as gap condition? I may of course be wrong but it deserves a try.

*** I am wondering if the max chance statistics would apply here since there is no gap??

Max chance only sorts the stocks listing first those with maximum number of gaps down and gaps filled and with the highest probability to gap down (or go down) again. Yes, there may not be a gap at all or it may be less than 2% but I consider them in this strategy as gaps.

*** Correct me if I am wrong but the thinking here is that the stock price will return to the close of Friday just as in the gap study Kevin did??

Absolutely right. it may work during sideway move or uptrend.



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