StockFetcher Forums · General Discussion · Rumpled One!! Wait for Green?<< >>Post Follow-up
as214
184 posts
msg #36141
Ignore as214
5/29/2005 11:28:31 PM



Hi Rumpled,

Really appreciate your insight and knowledge !! When you say wait for "green" before you pull the trigger what do you mean specifically and what are you looking for?.. Thank you for your time sir!!


Koronbock
201 posts
msg #36142
Ignore Koronbock
5/30/2005 8:45:00 AM

"Waiting for green" means that you better wait for the stock to open in positive territory (Above yesterday's Close). This way you avoid catching a falling knife.



TraderBert
22 posts
msg #36276
Ignore TraderBert
6/11/2005 11:15:28 AM

As a newbie to this board, one of the things I've been directed to is that concept as well.
Is the higher open you're referring to only applicable for that next day, or are there a certain number of days' limit before the signal is invalid?

I'm going to keep reading that main thread on the indicator to see if I can find answers, but it's very, very long! :)


Koronbock
201 posts
msg #36277
Ignore Koronbock
6/11/2005 12:30:26 PM

Higher Open is for next day. This is a short term method. No need to wait for 2 or more. Of course, all other cinditions must be met to, depending on your trading style (i.e. Lower Bollinger, lower regression channel etc.). Read the files in the YAHOO Stockfetcher group. It is all there.



TraderBert
22 posts
msg #36278
Ignore TraderBert
6/11/2005 12:57:44 PM

Thanks a lot.


roca1018
37 posts
msg #36383
Ignore roca1018
6/19/2005 6:52:00 AM

Opening green is not a reliable predictor as oftentimes a stock in a downward
trend opens above the previous close and then drops. Some will go by the first 10 m 15m 30m or 60m candle and will place a limit order that is not greater than
3% above the previous close. I have not seen any data which shows the win/loss
ratio of stocks bought when green at the open,10m, 15m, 30m, 60m It seems that you need additional indicators such as price crossing above ema5 or sma4 crossing
above sma10 on a 1d/5m candle bouncing off the lrc

Rich


TheRumpledOne
6,358 posts
msg #36394
Ignore TheRumpledOne
6/20/2005 8:46:43 PM

"WAIT FOR GREEN"... at the open wait for the price to get and stay above previous day's close. I learned this from Muddy, aka Wallman.

I adapted WAIT FOR GREEN to the 60 minute chart and/or 15 minute chart. If the previous candle is RED, you set a BUY STOP at the previous candle's closing price + .01. You do NOT try to buy at the bottom, you wait for green.

Look at XOMA on a www.prophet.net 10day/60 min chart. You will see the entry and the profit that you could have taken over the last 10 days.

Couple this entry strategy with 60 minute rsi(2) < 1 and you can rake it in, especially on stocks like GOOG and SHLD.

You don't always have to have rsi(2) < 1, but you do have always to WAIT FOR GREEN.

On other thing to point out is to know the support/resistance numbers for the stock you are trading... you don't want to enter right below resistance! So sometimes your entry may be a penny or 2 higher.

MAY ALL YOUR FILLS BE COMPLETE.






four
3,270 posts
msg #127758
Ignore four
3/29/2016 9:06:05 PM

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StockFetcher Forums · General Discussion · Rumpled One!! Wait for Green?<< >>Post Follow-up

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