StockFetcher Forums · General Discussion · NEVER LOSE AGAIN!!<< 1 ... 12 13 14 15 16 ... 102 >>Post Follow-up
TheRumpledOne
6,358 posts
msg #68443
Ignore TheRumpledOne
10/15/2008 10:12:46 AM

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I don't care that you took AAPL again. Look at how far price is away from your Buy Zone thingy. You might not get another trade all day. What do you mean, you don't care? Oh, just cause you made a few thousand in under 30 minutes you think that's enough? You just don't have clue, do you?





lctrcbddha
28 posts
msg #68445
Ignore lctrcbddha
10/15/2008 10:59:26 AM

Not doubting, just trying to understand how this morning should have been traded -

I watched RIMM this morning, not trading it. Opened at 59.08 against a previous close of 60.12

Within the first minute, it rose into the +.10/+.20 buy zone several times, as well as dropped into the -.10/-.20 sell zone.

These are the only two triggers (aside from profit taking), and the first trade is to fade the gap at the +.10/+.20

Towards the end of the first minute it hit a high of 59.44 before dropping to 59.31 and closing.

So within the first minute:

- Buy at 59.18
- Sell at 58.98, loss .20
- Buy at 59.18
- Sell at 58.98, loss .20
- Buy at 59.18
- Exit around 59.40, profit .16
- Net loss of -.24

If +/- .20 zone were used, the loss is even greater. Also not taking slippage into account. Four of the first 15 minutes were like this, the rest didn't really have buy triggers. There was no sustained move above the buyzone until 9:44.

Assuming a similar ~.20 loss for each of those four minutes, that's an .80 loss before the gap filled at 9:45 for the 1.00 gain.

So actual profit was around .20.

OR, instead buy at 59.18 ignore builtin stop and hold on for a major move towards the gap?



TheRumpledOne
6,358 posts
msg #68446
Ignore TheRumpledOne
10/15/2008 11:14:05 AM

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I am SO NOT IMPRESSED. You wasted all that time WAITING for the trade to setup. If you were really any good then you would have at least 3 SQUIGGLY LINE indicators on your chart. I don't care if your simple HORIZONTAL LINES work.

TheRumpledOne
6,358 posts
msg #68447
Ignore TheRumpledOne
modified
10/15/2008 11:17:04 AM

So within the first minute:

- Buy at 59.18
- Sell at 58.98, loss .20
- Buy at 59.18
- Sell at 58.98, loss .20
- Buy at 59.18
- Exit around 59.40, profit .16
- Net loss of -.24

============================================

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What RIMM chart are YOU looking at?

You go long on green candles and short on red.

RIMM gapped down, so you only take the longs.

Once the gap is filled you can trade both directions.


First candle, in/out with a dime +

Third candle, in/out with a dime +

Fifth candle, in/out with a dime

Sixth candle, in/out with a dime +

You have to be quick and not greedy.

But you're right, this is a LOSING METHOD because it doesn't back test.

========================================

If +/- .20 zone were used, the loss is even greater. Also not taking slippage into account. Four of the first 15 minutes were like this, the rest didn't really have buy triggers.

=======================================

SLIPPAGE? LOL!!! Haven't you ever heard of LIMIT ORDERS? MARKET ORDERS are for suckers. Perhaps you should try a DIRECT ACCESS trading platform.



lctrcbddha
28 posts
msg #68449
Ignore lctrcbddha
modified
10/15/2008 11:27:45 AM

Understood regarding short / long. I am only talking about long with regard to the open this morning.

When long, the stop loss trigger is the "short" zone. Do I understand that correctly?

I was watching the chart as it developed, "within" the candles as they formed. Within the first couple of minutes there were several brief rises into the long zone with subsequent dips into the short zone.

Each of these would have triggered stop loss? Or not. That, in essence, is my question.

This continued until the major move which finally filled the gap.

Edits - not worried about backtesting, never mentioned it. Didn't say it was a losing method, merely trying to better understand is application. Slippage - again, not worried about slippage.

TheRumpledOne
6,358 posts
msg #68450
Ignore TheRumpledOne
modified
10/15/2008 11:54:15 AM

"Within the first couple of minutes there were several brief rises into the long zone with subsequent dips into the short zone."
======================================================

This is SCALPING!

You are NOT in the trade for more than a few seconds unless it's moving (fast) in your direction.




TheRumpledOne
6,358 posts
msg #68451
Ignore TheRumpledOne
10/15/2008 11:56:12 AM

"Edits - not worried about backtesting, never mentioned it. Didn't say it was a losing method, merely trying to better understand is application. Slippage - again, not worried about slippage."

===================================================================

The point is, THIS DOESN'T WORK IN BACKTEST. IT'S A LOSER! You would have to be crazy to trade this method. LISTEN TO THE EXPERTS. THEY KNOW WHAT THEY ARE TALKING ABOUT!!




TheRumpledOne
6,358 posts
msg #68454
Ignore TheRumpledOne
10/15/2008 2:03:48 PM

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That's just so stupid... waiting for a red candle in the short zone to go short. Geez!!!

lctrcbddha
28 posts
msg #68455
Ignore lctrcbddha
modified
10/15/2008 2:35:52 PM


> waiting for a red candle in the short zone to go short.


Do you wait for a candle to complete (close) within and/or beyond the "zone" before entering the position?

Or do you enter the position as soon as a developing candle enters the "zone"?

Maybe that's where my confusion is...

TheRumpledOne
6,358 posts
msg #68456
Ignore TheRumpledOne
10/15/2008 2:57:19 PM

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See all you do is wait. You could have made a lot of money buying low. But, OH NO, your dumb rule of thumb says not to go long when price is below the open. Just because your other trades were profitable doesn't mean you should pass up these opportunities. See, if you used INDICATORS, you could trade more. But you think you're smarter just because your buy zone thingy works everyday.



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