StockFetcher Forums · General Discussion · I FINALLY FIGURED IT OUT...<< 1 2 3 4 5 ... 6 >>Post Follow-up
markcrisp
187 posts
msg #35960
Ignore markcrisp
5/10/2005 10:41:10 AM

Doesn't matter bull, bear, sideways... it works.

RSI(2) < 1 gives you the heads up that a stock is bottoming but it is up to you to TRADE IT.

------------------------------------------------------------------------

Well end of the day it's simply an Oversold oscillator. Not every stock going down bounces back up....


leaddog
38 posts
msg #35962
Ignore leaddog
5/10/2005 6:53:22 PM

markcrisp

True RSI is an oscillator, however stocks dont fall straight down either. I have noticed that on down trenders they bounce (wave 2?) to relieve the oversold condition. RSI 2 does work for me.


whirl
11 posts
msg #35964
Ignore whirl
5/11/2005 12:20:46 AM

I will use an analogy... auto racing.
What's more important the car (stock) or the driver (how you trade)?

BOTH

If you take a 300hp car vs a 250 hp car, the 300hp has a big advantage. However if you put the better driver in the 250hp car he still has a chance of winning (albeit harder). However, put the better driver in the 300hp car and it's almost automatic he will win.

Point being: Why would a good trader play around w/ a hard to trade stock, when he can make it easier on himself and trade the easier stock?
Put the good trader and good stock together magic can happen.


TheRumpledOne
6,358 posts
msg #35965
Ignore TheRumpledOne
5/11/2005 1:37:27 AM

Have you ever driven a car on a race track?

For one thing, in racing, the cars have pretty much the same horsepower.

Ever hear of IROC? Equally prepared cars to find out who's the better driver.

The fastest car doesn't necessarily win. The car that crosses the finish line FIRST WINS!

I have seen more than one race won on the last lap by a better driver in a slower car because he positioned his car to win.

It's the driver!

IT'S NOT WHAT STOCK YOU TRADE, IT'S HOW YOU TRADE IT!



traderblues
195 posts
msg #35970
Ignore traderblues
5/11/2005 9:16:08 PM

...and the exit is more important than the entry.

You can make money by picking stocks at random, if you have a good exit strategy.


marine2
805 posts
msg #35973
Ignore marine2
5/12/2005 12:55:40 AM

Ok, enough of the analogies of how you think trading should be. We get the point.

Koronbock, you mentioned this statement earlier in reference to people that respond to statements made by TheRumpledOne: "they cover their own inability to trade successfully with mindless allegations (like "promoting your website, your filter"). I since had apologized to TheRumpledOne in another thread about that question concerning marketing a web site. He replied he didn't have any to promote to which i accepted. Next item of wonderment, is your statement "we cover our own inability to trade successfully with mindless allegations". Well, I have many times touted TheRumpledOne on his fine devotion to showing us all his filtering tool that makes him money. Never intending to degrade him but to just understand him better. Just remember people that pay into this web site are not mindless people as you so think. We care about the quality of whats said by all in here and only want to understand more clearly how things work and how we can make money with a particular filter or filtering tool.

To find a particular filter and to learn how to use that filter correctly for that inquiring individual seeking success and satisfaction in the stock trading world is an important objective. Not creating an atmosphere of animosity and competiveness amongst us. Lets continue to work together and make this web site a positive experience.

Happy investing and lets make some money!



jstrades
3 posts
msg #36024
Ignore jstrades
5/17/2005 1:49:01 PM

Could any one tell me how I add IBD 100 stock into my stock set for screening?


markcrisp
187 posts
msg #36049
Ignore markcrisp
5/19/2005 10:46:23 AM

have another filter that spits out volatile stocks...

What is this one?


TheRumpledOne
6,358 posts
msg #52478
Ignore TheRumpledOne
6/24/2007 2:59:52 PM

Still rings true!



TheRumpledOne
6,358 posts
msg #52480
Ignore TheRumpledOne
6/24/2007 4:49:54 PM

I Wish I Could -- by Bill Kraft

Bill Kraft
Editor

On Monday, June 11th, I bought stock in Aluminum Corp China (ACH) at $34.23 a share and by around noon on Friday that week, it had jumped $7.88 a share. That move represented a 23% increase in just four days. Of course, I was moving my stop up behind the move in an effort to protect profit yet stay in the play as long as the stock was climbing. Obviously, this trade made me very happy and it reminded me of an email I had received from a subscriber several months ago.

In the email, the subscriber noted that my $10 Trader service had a high percentage of wins, but he was disturbed that many of the plays had only made a 15 or 20 or 40 cents a share profit. He wanted to know why I didn't send alerts on trades where I was going to make more than that per share. I laughed out loud when I read the question. Clearly, if I knew which stocks were going to make me more money, I would invest in them. The fact is that the 20 or 40 cent gains on cheap stocks often represented returns of 5% to 15% in anywhere from a few days to a couple of weeks.

When teaching classes, I frequently ask new students what they consider to be a good annual return and the answer often is 10%. The fellow who wrote was disappointed that I was only making that much in a month or less on many winning trades. Naturally, I would prefer to have all winners and have each winner provide a bonanza, but that is simply unrealistic. I (and almost every trader I have ever met) do have losers and not every winner is a big hit.

I suspect the subscriber was looking for a home run every time. He was seeking the holy grail of "get rich quick." My experience teaches that those who believe they can get rich quick in the markets are more than likely doomed to failure. One of the keys to successful trading in my estimation is to stay in the game. Manage your money so that no unsuccessful play will take you out of the trading business. Do not expect the huge win on every play; work to achieve profit. It is fine to have several small winners. The big gains will come at times as with my ACH trade, but they can't be realized unless you are still in the game. That is one reason why money management and cutting losses is so important. You may want to review my earlier article on money management in the archives and see how a trader who uses a proper reward to risk ratio and who manages his money appropriately can still be profitable even when less than half of his trades are winners.

The bottom line, I believe, is that trading, in order to be successful, must be approached with reasonable expectations. Try to "get rich steady" rather than "get rich quick."

Good Trading!
Bill Kraft


StockFetcher Forums · General Discussion · I FINALLY FIGURED IT OUT...<< 1 2 3 4 5 ... 6 >>Post Follow-up

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