StockFetcher Forums · General Discussion · A filter that works.<< 1 2 >>Post Follow-up
Noahedwinbeach2
135 posts
msg #27397
Ignore Noahedwinbeach2
7/16/2003 12:54:00 AM

acervapsych
I have learned to definately wait until 10:00 am(Eastern), or 9:00 am Central where I am, to wait before I buy. Obviously this is not a commandment chiseled in stone that I strictly adhere to, rather it is a general guideline. My experience is that with the rising stocks I have jumped in to, not always, but MORE OFTEN THAN NOT, if they gapped up or began rapidly reaching for the stars immediately upon opening I would always get them at or close to the peak, only to watch them fall right back to form a base for the rest of the day where I could have got a much better price on them- not to mention I would be at a decent loss for the rest of the day. This immediate rise and fall generally happens within the first thirty minutes after the opening bell so now I just try to not even get on my computer until at least 15 minutes or so after the opening bell. My experience is that many times stocks reach their highs for the day right after the opening bell or they will fall back and not pass that early morning peak until the last portion of the day. The reason I would always buy imediately upon opening when a stock gaps up or immediately began rising is the fear I would miss out on a straight rise throughout the early morning, then kind of flatline the rest of the day and shoot up again at the end of the day. Well from time to time this does happen and if I miss it now then so be it, usually if a stock does that anyway it will be a winner. The key is to maintain discipline and have control of your emotions. Like I said my personal experience is I lose out more often than not if I try to buy when the market opens.
As far as stop orders go I set a mental stop order on it the day I purchase it. I watch it real time intraday hopefully to get it after a fallback from the morning rise. After they fall back they usually tend to form a range they bounce around in. For example, if a 1.50 stock shot up to 1.80 right at opening it might fall back to 1.65 and kind of bounce between 1.65 and 1.70 for awhile. After watching it go from 1.65 to 1.70 a few times I will make the decision to buy it once it drops to around 1.65 again. As far as sell orders go I always put a stop market order on it just for insurance purposes. Sometimes I leave it alone and let it stop out by itself and sometimes I sell it before. Usually I leave it alone if I feel I can put a close stop loss on it. Like BIOM the previous day's low was 1.44 so I set it to 1.43, if it stopped out no biggie I'm only out 5%. But a stock like UAXS, well its low for today was .46 and it closed at .67 so I surely am not going to just let it stop out. I will hold it until it looks like its starting to crumble and then sell, this is also always done while watching it real time intraday.


Noahedwinbeach2
135 posts
msg #27398
Ignore Noahedwinbeach2
7/16/2003 12:55:31 AM

Oops sorry everyone the previous post was posted by Noah's trading partner, NOT Noah.


dmindy
42 posts
msg #27419
Ignore dmindy
7/17/2003 11:53:31 AM

2 quick questions.

1) You're using the MACD Histogram? Divergance?
2) Yousaid your looking for ones that are bottoming out.
Do your picks have to have a MACD below 0 and turning up or just turning up?


Noahedwinbeach2
135 posts
msg #27426
Ignore Noahedwinbeach2
7/17/2003 4:47:21 PM

I use divergence and it just has to be turning up but usually i like it below 0 or just crossing over.


four
3,275 posts
msg #129888
Ignore four
7/18/2016 10:42:06 PM

pop

StockFetcher Forums · General Discussion · A filter that works.<< 1 2 >>Post Follow-up

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