StockFetcher Forums · General Discussion · Holy Grail to daytrading here<< 1 2 3 4 >>Post Follow-up
stargazer
12 posts
msg #88119
Ignore stargazer
modified
2/11/2010 11:33:33 AM

---------------------------------------------------
miketranz
How did you come across it?
---------------------------------------------------

Actually it was by accident. I was looking at the Yahoo finance chart for SunMicrosystems, and used the Slow Stochastic, but instead of the normal setting of 14, I doubled it to 28, I wanted to see if I could change the settings, and that's how I saw the pattern. This was like a year ago, or maybe two years when I saw this.. and then I decided to see if I could see the same pattern with those 3 stocks and sure enough it did..



---------------------------------------------------
SAFeTRADE
stargazer, how or why did you choose the 3 stocks you did. What criteria did SPF, MBI, BZH display?

thanks,
----------------------------------------------------

I was reading the Run Forest Run posted by TheRumpledOne, and a lot of stocks where being posted that showed up with the scans. And I also saw them on the first page of the Deadly Combo post by 13th_floor

So to narrow it down I decided to pick the ones that were on the NYSE and had 1,000,000 or more in volume..and they were 1 digit stocks, cheap stocks. I had a list, but I only picked three so as not to clutter the screen.

stargazer
12 posts
msg #88120
Ignore stargazer
2/11/2010 11:38:31 AM

I have to make a correction, it's actually 9:35am, 10:35 wallstreet time. The dip below 20..

stargazer
12 posts
msg #88122
Ignore stargazer
2/11/2010 11:58:39 AM

Take a look at JYHW.

It came down from 80 and dipped below 20 before 10:35a.m. and then crossed above 50, stock price 1.94 and hit 2%, 1.97, but just BARELY.....before coming back down again..

spf, bzh, and mbi, more than likely would have kept going UP..ensuring that you get a 2% profit guaranteed..

I'm thinking it's better to buy when it crosses above 20, and not wait for 50, this should guarantee a 2% hit...

cunparis
71 posts
msg #88135
Ignore cunparis
2/11/2010 1:29:07 PM

i'm not sure how quotetracker is making the stochastics 28,1 but I'm trying it with tradestation and 30 min charts and the stoch just doesn't move much. I don't see any possible entries that fit this criteria.

I've thought about your idea and I wonder how much of your success was just due to the fact that they were moving up? On the daily chart SPF moved up quite a bit from 2 to 4.40. I think you could have any criteria for going long with this stock and make money.

If you have more ideas I'd like to take a deeper look. I've been trading futures for a while now and I'm looking for a little old man type strategy that I can do on the side.



miketranz
716 posts
msg #88136
Ignore miketranz
2/11/2010 1:35:20 PM

I'm assuming you're using 1 min charts? I see where the stock traded higher off the open,then sold off,pulled the indicator down to 0 at a little past 10:30 EST. Then the stock reverses,you enter the trade for a quick ride up.Nice set up,but is it consistent? Thanks,Mike....

miketranz
716 posts
msg #88137
Ignore miketranz
2/11/2010 1:55:58 PM

BT,to answer your question,to sell short the open,three conditions have to exist for the best odds.I)A higher than normal gap up open,possibly on pre market news.2) The stock must have a tendency to gap open,and reverse over a 30 day period.3)You enter after 2 mins,which is 2 bars on a 1 min chart,only if the stock trades down,under the 2nd bar.You set a stop 1 tic above the open.This set up is called "The quick and the dead".Its a fast trade scalp set up.As far as brokers,I use Fidelity Active Trader Pro,great executions,great customer service,good pricing.I never had any problem shorting,unless you try to short a bio tech stock,or a stock that the brokers would consider a major risk.Stick with +10000000 share stocks and you won't have any problem.Mike.........

duke56468
683 posts
msg #88141
Ignore duke56468
2/11/2010 2:42:02 PM

@stargazer, Thanks for your post, did you mean 30 minute charts or were you using something less like 1 minute candles or streaming charts?

miketranz
716 posts
msg #88160
Ignore miketranz
2/11/2010 10:43:14 PM

Any day traders who trade off the open,this threads for you.....

BarTune1
406 posts
msg #88164
Ignore BarTune1
2/11/2010 11:26:24 PM

Thanks for the insight on trading off the open. I use TD in Canada, and there is almost always a delay in the order being "approved". All other trades except for naked options trades are "open" pretty much instantaneously.

They call all the time on certain stocks which are sometime available for shorting, and sometimes not, like CAL the other day.

The quick and the dead strategy definately has appeal to me - as long as I don't end up dead.



stargazer
12 posts
msg #88168
Ignore stargazer
2/11/2010 11:37:47 PM

----------------------------------------------------------------
cunparis
i'm not sure how quotetracker is making the stochastics 28,1 but I'm trying it with tradestation and 30 min charts and the stoch just doesn't move much. I don't see any possible entries that fit this criteria.

I've thought about your idea and I wonder how much of your success was just due to the fact that they were moving up? On the daily chart SPF moved up quite a bit from 2 to 4.40. I think you could have any criteria for going long with this stock and make money.

If you have more ideas I'd like to take a deeper look. I've been trading futures for a while now and I'm looking for a little old man type strategy that I can do on the side.
----------------------------------------------------------------

Yeah I'm using Ameritrade over here, and I really don't like their streaming charts, they're using java software for their charts, plus you can't change the settings of the Slow stochastic, it's always set at 14. I guess I'm used to Quote tracker where you can change any setting to whatever number you want..

Yeah, that's why I watched 3 stocks during that time, if one was going down another was there to fill in the void. If you look at spf in late August it was going down, that's where the others took over, and that's how it went, if one was down others took over. I just kept seeing the pattern and went with it..

But EVEN in October where they were ALL going down, I was still trading this setup, It wasn't until November. Do you see the first week of November for SPF? There's a long white candle, that's where the pattern stops.. After that, it was rare when I saw the pattern..



---------------------------------------------------------
miketranz
I'm assuming you're using 1 min charts? I see where the stock traded higher off the open,then sold off,pulled the indicator down to 0 at a little past 10:30 EST. Then the stock reverses,you enter the trade for a quick ride up.Nice set up,but is it consistent? Thanks,Mike....
---------------------------------------------------------

30 minute charts, yes the pullback, and then where the stocks reverses back above. Consistent only for a few months, I think the hard part is trying to find other stocks to trade once the pattern stops..



---------------------------------------------------------
duke56468
@stargazer, Thanks for your post, did you mean 30 minute charts or were you using something less like 1 minute candles or streaming charts?
----------------------------------------------------------

30 minute streaming line charts with quotetracker (no candles), I click the start button and it automatically logs on to the TD Ameritrade streamer.. and then I open the charts..

If you add a new stock symbol and open the chart for it, it'll show candles, but right click the chart and go to Chart Type and then choose Line Chart..

And then at the bottom where it shows Volume, right click and choose Select Indicators and choose Slow Stochastic, and click the little Edit button to change it to (28,1)


StockFetcher Forums · General Discussion · Holy Grail to daytrading here<< 1 2 3 4 >>Post Follow-up

*** Disclaimer *** StockFetcher.com does not endorse or suggest any of the securities which are returned in any of the searches or filters. They are provided purely for informational and research purposes. StockFetcher.com does not recommend particular securities. StockFetcher.com, Vestyl Software, L.L.C. and involved content providers shall not be liable for any errors or delays in the content, or for any actions taken based on the content.


Copyright 2016 - Vestyl Software L.L.C.Terms of Service | License | Questions or comments? Contact Us
EOD Data sources: DDFPlus & CSI Data Quotes delayed during active market hours. Delay times are at least 15 mins for NASDAQ, 20 mins for NYSE and Amex. Delayed intraday data provided by DDFPlus