murknd
62 posts
msg #27208
- Ignore murknd |
7/5/2003 7:42:55 PM
I've tried to keep an open mind looking at all the filters / discussion everyone posts and it's pretty obvious there's a varied experience level and trading "personality" represented. I don't know about everyone else, but I thought it might be helpful to keep the following filters (pun intended) in mind as we post and read about this screen and that screen ...
1) There's no such thing as a "magic" filter that returns 100% (or perhaps 70% or 80%) winners day-in and day-out in all market conditions.
2) I've back-tested many of the filters that have been posted in filter exchange and some are "better" than others, but they all have "varied" performance depending on market conditions and countless other factors. Screening should be about choosing which stocks (of 1000's) to study further. Anyone can build a filter that returns 200 or 300 stocks - what good does that do?
3) I don't hear too much talk about entry and exit strategies. Inevitably any "good" filter will return numerous stocks that meet the filter criteria - which one or ones do you enter? There's no substitute for studying the individual charts at this point - that's one of the reasons I joined SF - because I could quickly scan through the charts associated with my specific citeria.
4) I think there are some of you that trade for a living (many perhaps that are day-traders) and your filters have been posted as "the best" this and "the best" that. Well I, for one, don't trade for a living and can't watch the market constantly throughout the day - so any filter that's posted with the caveat -- I then watch the "such and such" at "stocksrus.com" to determine entry and exit throughout the day -- is a filter that doesn't really help me (I know, I know, it does help some of you). It would be nice if people at least indicated their filters work best in "xyz" conditions or with "abc" exit and entry strategies.
That's probably enough rambling for now - just trying to keep everything in perspective ... thanks for listening.
D
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