StockFetcher Forums · Filter Exchange · bollinger bands<< 1 2 3 4 5 ... 23 >>Post Follow-up
janeiro
25 posts
msg #26285
Ignore janeiro
4/21/2003 9:59:09 AM

Hi WALLMAN...

>>p.s i tried your email from message on 4/17 but keeps getting returned with bad address(?)<<

first read my email address (the capital letters...) than do exactly what it say...(to218775@REMOVEMEhotmail.com)...it's a very well know trick...if you can try to get in touch with me before the market open...maybe I have something to share with u.

ciao David



wallman
299 posts
msg #26286
Ignore wallman
4/21/2003 11:13:35 AM

DAVID, i tried everything,couldn't get through,try me.....muddtruckf250@aol.com


janeiro
25 posts
msg #26291
Ignore janeiro
4/22/2003 5:26:18 AM

Wallman,

I sent a couple of emails yesterday but they did not even bounce back...did u get them?

ciao D


wallman
299 posts
msg #26292
Ignore wallman
4/22/2003 10:09:57 AM

one thing i wanted to mention when using this method which is often overlooked is the risk/reward factor,in this case when chosing between 2 stocks that fit the criteria consider the width of bottom bb from top bb,say both are $5 but top band on one is $6 and the other is $7,if first one goes halfway to top bb that's a 10% gain,if other one does that's a 20% gain,of course bb's will expand/contract after you enter but you have no way of knowing how much until after the fact so it's a good starting point,it's been my experiance that both 5-6 and 5-7 have about an equal chance to get halfway so 5-7 gives you 10% more reward for the same amount of risk!,this really adds up over a period of a couple months as you can see,those new to bb's,a great place to check em out is BOLLINGERONBOLLINGERBANDS.com, as always good luck and have fun,MUDDY


gruender
101 posts
msg #26293
Ignore gruender
4/22/2003 1:00:42 PM

Muddy, you make a good point; that is why I either use "add column atr(10)" or "add column atr(30)" to my filters so that I can see what is the "volatility" of the price before I select the stock that I am going to buy. However, we must remember, the greater the volatility, the greater the risk. Therefore we need to keep a close eye on the more volatile stocks.

Good Luck, Joe


wallman
299 posts
msg #26294
Ignore wallman
4/22/2003 5:49:08 PM

JOE,thanks for the tip on ATR,i believe that ATR(30) could be a very useful tool in setting my initial stop losses,such as a less volitile stock would get a 5% initial stop and a more volitile stock would get 8% or so to give it more room to move,kinda just been eyeballing till now,will try it out,also have found out the hard way that these lower priced stocks are very difficult to put physical interday stops on as many will stop you out in midday only to bounce back and close up for the day,very frustrating,so now i use mental stops instead and sell right before the close if stock is still below my stop,works 100% better,again thanks for your input!! MUDDY


no4j
45 posts
msg #26311
Ignore no4j
4/27/2003 9:17:36 AM

Thanks, Wallman!!!!! I was just doing some historical scans and it occurs to me that when the index 200 day moving average is down-trending, would this scan not work well in reverse for selling short? Needs more study but it seems the returns would be better in a down-trending market. This may be obvious but I'd like to hear if anyone has tried it. Also, Wallman, do you take a lot of short term (1 or 2 days) gains and get out?


wallman
299 posts
msg #26314
Ignore wallman
4/27/2003 11:25:31 AM

HI NO4J, thanks for the input,i've actually shorted the way you mentioned,found that it works much better for shorts if you use 4 days of price increasing for them but found that 3 days decreasing works better for longs,interestingly even as the market trends down the longs did much better,not so much in % of wins but very much so in the % gains of those wins,it may be due to the fact that i had to change the price values for shorts to $10 to $30 as opposed to $1 to $10 in order to get enough matches to chart and the fact that the brokers i use won't allow shorts on stocks under $5,another problem i had was both brokers more than half the time didn't have shares to sell available and you had to call to see if they could borrow them from another broker,about half and half on that but i wasted a lot of time calling, in the meantime the stocks price would be dropping causeing me to get a lousy entry,many times it's bad enough already because of the "uptick" rule,just wasn't worth it as i was making good gains on the longs anyway,but please don't not test it because of my experiances with it if you feel that it will work,if you do try it you want to see the shadow on the last candle touching or through top bb on the top of the candle and as with longs i've found that some sort of volume increase(with shorts buying pressure),these two factors may not increase the win % much but they point out the biggest gainers of those winners,that's the ones i want to find,as for your ? of holding length,because i trade for a living i began to hold only for only 1 or 2 days, taking quick 5% profits pretty consistantly but then watching very many of them run to 20% or more in a few weeks so what in do now is use a real tight trailer when the price gets to the middle of the bb's and i definatly sell when the price touches the top bb with a RSI(14) of 75 or greater,have missed out on a few 60%+ winners after i sold but i realize i can't have it both ways,i just go to the next play and try to be consistant,everybodys situation is different so i guess there is no real "perfect" holding time,again thanks for your ideas


no4j
45 posts
msg #26317
Ignore no4j
4/28/2003 2:17:18 PM

Thanks for the info, Wallman. One more area of concern for me. Do you place your stops GTC or Day? I never can decide if the risk of keeping a stop in place overnight is worth the risk of gapping under it at the open. And if it does, is it best that I stopped out even if the price is well under the stop price. Or would it be best to look for a recovery after the gap?


dabonenose
26 posts
msg #26318
Ignore dabonenose
4/28/2003 3:43:23 PM

Muddy, was looking at your earlier posting of screening the prior 3 days on decreasing close price and are you looking to buy on the first day that you get a long tail(shadow). If you do buy at this point, do you just set a limit buy at the BB bottom value? Does it matter if the tail breaks through the bottom of the BB?

What is your main decision maker on which stock to buy; is it based soley on the tail and if volume increases.


Sorry for all the questions,

Dab


StockFetcher Forums · Filter Exchange · bollinger bands<< 1 2 3 4 5 ... 23 >>Post Follow-up

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