StockFetcher Forums · Filter Exchange · bollinger bands<< 1 ... 8 9 10 11 12 ... 23 >>Post Follow-up
wallman
299 posts
msg #26483
Ignore wallman
5/12/2003 10:42:38 AM

HI NO,glad to hear your having great success with it,from some emails iv'e gotten from others you are not alone so this is good to hear,the object is short term profits but as long as price or rsi doesn't stop you out you should let em run,yes some do straight line to 75,as i've said before when price does reach 75 rsi,hold till next open and look for green,if yes hold and watch,if closes green,repeat next day,it's possible to get another 5% or much more out of the trade,i backtested the filter last night and it seems to be stronger than ever i.e. stocks seem to be gaining even after 30 days up to 40 whereas in the past it seemed to be about 10 days less than that figure,my only advice to you regarding lenght of hold is to just let price or rsi dictate when to sell,as you get more accustomed to the method i'm sure that you will come up with your own way of taking profits,this is great as eveyone's situation is different.........wish you continued success,MUDDY


gruender
101 posts
msg #26491
Ignore gruender
5/12/2003 9:03:12 PM

Muddy, do you have any suggestions regarding the use of your filter during periods when the market is trending down? When I use your filter and look at weekly results using the SF back tester between mid Jan to Mid Mar 03, I got mostly negative returns over the weekly (5 day) periods, yet when I back test your filter during an up trending market, I got excellent results over the weekly (5 Day) periods. Do you recommend that we don't use your filter during down trending markets or is there some other adjustments you make during the down trending periods?
Thanks, Joe


wallman
299 posts
msg #26492
Ignore wallman
5/12/2003 10:15:16 PM

HI JOE,that's a great ?,i'm glad you brought that up.....you're right, that period from mid jan to beginning of march will show mostly negetive weekly(5 day)returns but the catch here is as i remember it,is very, very few of them were actual plays as the market was so bad nothing opened green,thus the safety net,in fact the gainers that you do see WERE the only ones to open green,thus my win % was in fact pretty close to any other time during the 19 months,for example if the filter gave 10 matches for a certain day and only 2 were gainers for the week you would be inclined to say you would have gotten smoked that week,but that's not necessaraly true because in fact those 2 gainers were the only 2 plays you should have made under the bb methods entry rule of seeing green,the other 8 opened down and were simply throwouts,2 things i would caution against in a bad trending market is trying to see the stocks trend before the close,as discussed on posts regarding 2:30 realtime filters,then entering before the close(just me, but i would rather wait for the open even in a good market)and also i would leave the volume set to 100000,do not bump down the volume because the lower the volume on a stock the more the market makers can play with it i.e if your looking to sell a stock which is quoted at $5 ,in a bad market the mm's know you want to get out BAD,they will set the bid at like $4.60,that's real bad,on a higher volume stock that's ticking every 30 seconds or so it's much harder for them to manipulate the price as it is with one that is just sitting there not trading for 5 or 10 minutes, there is one other thing i noticed about trading these stocks in a weaker market and that is that the lower priced ones under $5 do not seem to get hit nearly as hard as the over $5 stocks on some of those real bad down days,the reason probably is that the shorting of under $5 stocks is not allowed,so shorts must look elsewhere for their victims........ if i can answer anymore ?'s regarding this time period you mention please feel free to ask.........MUDDY



ddsmith2
10 posts
msg #26555
Ignore ddsmith2
5/19/2003 5:25:52 PM

Wallman,
On entering a trade, some of the posts say you look for green at open and then place trades around 9:50. Do you ever take you positions before 9:50 or do you always wait. Also if a stock started in green but has moved out of the green by 9:50, do you hold off on that play?
Thanks



wallman
299 posts
msg #26558
Ignore wallman
5/19/2003 7:58:32 PM

HI DD, i was waiting to enter till 9:50 up until about 5 weeks ago when i started to enter at 9:45 cause the method seemed so hot,in the past 2 weeks i have even entered at 9:40 on the matches that have really good bottom shadows and large volume increases,it has worked out fine, so for now i will continue as such,if a match starts out green but moves out of the green by my entry time i will wait to see if it goes back to green and holds it for about 5 mins and i will then buy it no matter what time of day.....good luck


AntNet
36 posts
msg #26559
Ignore AntNet
5/20/2003 9:33:59 AM

With Muddy's (Wallman) kind approval and authorization, and the OK from the SF staff, I'm happy to announce that the "Wallman BB method" is now available to SF subscribers in a clean and easy to read word doc that I summarized and edited from the many posts to this forum. This is my way to say thank you and pass on the help given to me.

I'd like to thank Mr. Wallman for his unselfish kindness by sharing and helping me and others with the method. Also, a lot of credit has to be given to the folks at SF who make it possible.

SF subscribers that would like a copy, please contact me directly rather than tying up the forum with requests. Send me an e-mail: blbant (at) hotmail (dot) com, and I'll forward a copy to you. (I'm sure you can figure out the address written to avoid SPAM BOTS that might be lurking.)

Good Trading,

Bert


no4j
45 posts
msg #26574
Ignore no4j
5/22/2003 4:49:24 AM

Been thinking. The criteria for the days candle is: AND PRICE TOUCHED LOWER BOLLINGER BAND(20). If we want to include stocks that really went way down, why not use: AND LOW IS BELOW LOWER BOLLINGER BAND(20). This would include stocks whose entire candle was below the LBB and did not even touch it. There aren't a lot of those, but they can be good ones and they are being missed by this filter.


no4j
45 posts
msg #26575
Ignore no4j
5/22/2003 5:20:24 AM

Been thinking more. You can also make sure the last 3 days were red candles by adding the following criteria: close 2 days ago was under open 2 days ago and close 1 day ago was under open 1 day ago and close was under open.


no4j
45 posts
msg #26576
Ignore no4j
5/22/2003 5:43:18 AM

Been thinking more. You can also make sure the last 3 days were red candles by adding the following criteria: close 2 days ago was under open 2 days ago and close 1 day ago was under open 1 day ago and close was under open.


wallman
299 posts
msg #26580
Ignore wallman
5/22/2003 10:45:16 PM

HI NO4j, your second point about making sure that the three last days are red candles is well taken,but anyone keeping a journal of stocks which have worked out well with this method should ALWAYS run the original filter to look for any on your "good list", as an unchanged day will show a black volume bar, but IMO a stong performing stock in the past with the bb method should overide an unchanged day and be watched for green at the next open, MUDDY


StockFetcher Forums · Filter Exchange · bollinger bands<< 1 ... 8 9 10 11 12 ... 23 >>Post Follow-up

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