StockFetcher Forums · Filter Exchange · New here: What is your screen you bet money on?<< 1 2 3 4 5 ... 6 >>Post Follow-up
wallman
299 posts
msg #35584
Ignore wallman
4/12/2005 11:04:18 PM

Ha,low RSI(2) rocks,The Rump and i have said this over and over again on these forums,seems like it's too simple for most folks,they want to get their money's worth out of SF by using 100 different filters,too funny


corsino
259 posts
msg #35585
Ignore corsino
4/12/2005 11:28:40 PM

Leaddog

I too went further back, to an offset of 130 days and lowering the offset in 5-day increments, not 1 day at a time , and holding for a week.There were 11 up weeks, 5 down weeks, and 9 weeks with no picks.
The result was +211.64 %. However, that percentage was greatly affected by one week with a +184.71 % gain , and a week with a -59.11 %. Throwing those two out, still resulted in a decent + 86.04 %.
I might try to figure out some money-management scheme that would make it possible to survive the occasional disastrous week. Maybe like having some money in reserve. I may try actual trading it with a very small amount of money, and see how it goes.



corsino
259 posts
msg #35586
Ignore corsino
4/12/2005 11:50:27 PM


Wallman

It is true that based on a relatively low backtest period, that particular RSI (2)filter performed the best out of about 25 filters on my list. Of course,I just used it strictly as a mechanical filter, without doing any DD on the stocks. It is possible that other filters might do as well if the trader set further criteria, such as " only buy on green", etc..
But I just wanted to keep it as simple as possible.


wallman
299 posts
msg #35588
Ignore wallman
4/13/2005 7:48:48 AM

Corsino,i think all one can really ask of a filter is to give you "live" candidates to watch,even a filter with 50/50 gains/losses can be a great one for that person if they learn to trade it,i.e. learn the characteristics of certain stocks that hit your filters,learn to look for certain things like buy on green hold,buy on crosses of even dollar marks,on big pullbacks to even dollar marks and holding there,large volume spikes,small candles followed by very large ones etc.,in other words learn how to trade to suit your style ... an example of what is for me a super trading filter but to the eye is only so so with usually a 50/50 ratio is " stocks where ADR(10)is above 8%" ave daily vol(90)>100k,price between 1 and 5,about as simple as it gets but learning to trade these as mentioned above can produce awesome returns,i concentrate on the big vol ones that traded over or near 1 mil shares for that day,yesterday it turned up 15 such stocks,7 gains 7 losses 1 even,nothing great BUT it turned up OWENQ that opened with a gap,this is a stock i KNOW from the past that can run big when it starts,i got in right at open at 3.52 and sold shortly after it broke 4 then dipped back under 4 at 3.98,later in the day it caught and held 4 and as we noted in our chatroom was vol SPIKING right there at 4,i entered again at 4.03 and rode it all the way to 4.68 where i sold before the close,a 13% and a 16% gain from 1 stock from a filter that went 50/50 for the day because i've learned to trade it ... Good Luck,regards, Muddy


corsino
259 posts
msg #35590
Ignore corsino
4/13/2005 10:23:32 AM

Wallman
I agree that there a lot of clues that a trader learns by experience that enhances his results. At the same time, a lot of those "clues" may work well for the day-trader but not so well for a swing trader. For instance,"buying on green" may work well for a day trader, but I don't know what the statistics would be over a period of a week or so. The filters I checked included several indicator "crossovers" but none really stood out for the backtest period.
Now, "knowing a stock" may have some merit.I've started checking the "historical" feature in stockfetcher, and there does seem to be stocks that have good percentage rates on some filters.


jclaffee
81 posts
msg #35597
Ignore jclaffee
4/14/2005 3:37:56 AM

Hi, corsino. . .

If you like the general idea of the low RSI(2) screen, see if it's PRINCIPLES are adaptable to your trading style. Low RSI(2) appears in all time frames, including daily and weekly, as does the concept of "holding green". For instance, in MY universe, "holding green" means "closed higher today than yesterday".

What is RSI(2)? It's an oscillator that rings your bell when a stock is selling at a price so low that it's likely to go up from that level. Is it 100% infallible? No. Is it "highly predictive"? It is in my scheme of things and that scheme is not day-trading.

When discussing low RSI(2), thanks are always due Holy Grail, The Rumpled One and wallman for their insight and generosity (along with many "fellow travelers" who have contributed to these forums on this topic).

Jim


corsino
259 posts
msg #35602
Ignore corsino
4/14/2005 9:40:08 AM

Hi Jim
Well,I've read most posts concerning filters and am aware of the difference of opinion about RSI(2),which is pecfectly natural since you can't expect everybody to agree on everything. Actually, it is good that there are differences of opinions and people are continually searching for something better.I myself have developed some filters which in theory looked like they should be profitable, but the backtesting did not live up to the expectations.
I realize that you can't expect any filter to be perfect and a lot depends on how a person uses it.But at the same time, I believe that some filters, over time, are basically better than others. Although some expert traders can no doubt make money using any filter (some don't even need or use a filter), probably most of us can use any help we can find.
Actually, my interest in filters is not so much to make money for myself ( although that would be nice), but partly to keep my retired brain functioning. So when I notice a new filter being posted, specially the "clickable" ones,I like to run a quick backtest on it out of curiosity. I have noticed that the length and complexity of the filter has no bearing on the results of the backtest. Usually,the results are inversily proportional to the length.



jclaffee
81 posts
msg #35609
Ignore jclaffee
4/14/2005 2:54:45 PM

corsino,

it sounds like the bod may be retired but the microprocessor remains fully engaged!

Jim


corsino
259 posts
msg #35613
Ignore corsino
4/14/2005 7:33:08 PM

For Whatever It's Worth....

I've been playing around with the new Backtesting feature, running the same filters as before on it, but the results are basically the same.

From 12/31/2004 to 4/14/2005 ,the RSI (2) filter I posted before, showed an ROI of +265.89. I didn't run all of the remaining 24 filters on my list, but so far, the closest one had an ROI of +123.56.

Now, I didn't originate the filter, only made minor modifications to it. To me, it's immaterial who originated it,I'm only interested in results.So I'd be interested to know if somebody can find a filter that gives a similar high ROI for a backtest of several months.

Since it's a mechanical filter, there is no guarrantee that it would provide the similar results in actual use. Probably not, when greed and fear are added to the filter.



paul14
10 posts
msg #35647
Ignore paul14
4/17/2005 11:52:54 PM

Andreas, do you rank in Trade or the Fasttrack Spreadsheet?


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