StockFetcher Forums · General Discussion · SWING TRADING<< 1 ... 7 8 9 10 11 ... 12 >>Post Follow-up
dbyrt
70 posts
msg #57631
Ignore dbyrt
modified
12/5/2007 4:29:04 PM

I was trying to stay out of this discussion, but as one who's following TRO's approach in some respects, I had to say, that for me, (High - Open) is the most useful measure of all. Every day, the stock will go from open to high.
Especially if you're day trading. ATR is of no help, as it 's a measure covering two days.

In one sense, if you're day-trading, today's open is just a point-in-time, isolated from previous days, BUT, knowing how many days in a 100 that it has typically moved from that open to a significant high, is all you need to know....given sufficient volume etc.

Take a look at ASTI. 79/100 it moved up 1% from open. What does that mean? Buy at the open and sell when it hits 1%, or hold on. (44/100 of the time it made 4%, so move your stop up once it hits 1% and you might be lucky, and be on one of those 44 days)
(The ATR would look quite different for this stock, as between days, this stock can have huge and upredictable moves, so you wouldn't particularly want to hold it.)

klynn55
418 posts
msg #57642
Ignore klynn55
12/5/2007 6:47:27 PM

TRO:
"There are 2 kinds of people you can't teach: the very wise and the very stupid" - Confucius
"You can't argue with ignorance"

above quotes are examples of "AD HOMINEM" arguments, logic class, it
means you can't win the argument, so you insult the man, you lose the debate!
Why is so hard to explain the meanings of your filters?I'm not going to continue this, possibly many more revere you, but you are waste of my dwindling time?

TheRumpledOne
6,358 posts
msg #57643
Ignore TheRumpledOne
12/5/2007 7:02:39 PM

curmudgeon
- Ignore curmudgeon 12/5/2007 4:13:24 PM

After reading : http://forums.stockfetcher.com/sfforums/?q=view&tid=55433&start=10

I have a few questions.

High - Open and Open - Low are certainly a way to dissect the day range and figure a bias of a stock to range a certain amount in one direction or another. I don't understand however how this is a "statistic" indicating anything useful except a stock has a certain amount of volatility. If you want to "MTC" isn't high ATR pretty much the same thing?

The reality is your method may be more precise but the outcome is exactly the same....these stocks have "X" amount of volatility. I don't see how this is a "statistic" in regards to an edge trading across a fixed line from the open and in particular to trading at the open.

I know that TS has a count function as well. On intraday bars you might be able to come up with a way to see an edge but I don't see it using High - Open.
==================================================

If you don't see it, then this method is not for you. Trading is about finding something that works for YOU. Just because it works for some people does NOT mean it works for you.

Just remember, if is doesn't work for you, than does NOT mean it DOESN'T WORK!!





TheRumpledOne
6,358 posts
msg #57644
Ignore TheRumpledOne
modified
12/5/2007 7:08:20 PM

"above quotes are examples of "AD HOMINEM" arguments, logic class, it
means you can't win the argument, so you insult the man, you lose the debate!
Why is so hard to explain the meanings of your filters?I'm not going to continue this, possibly many more revere you, but you are waste of my dwindling time? "

Klynn, it is not my intention to insult you or any other trader.

Fact is, you don't see it. You post arguments veiled as inquiries. Since others understand and use the method profitably, it is time for you to LOOK IN THE MIRROR to find the solutions and answers you seek. I have provided plenty of explanations and examples for others to catch on.

So if you are really interested in learning then reread everything I have posted on www.stockfetcher.com and www.kreslik.com about MILKING THE COWS, THE BUY ZONE and FADING THE GAP.

But as you can see in this thread, others "GET IT".


TheRumpledOne
6,358 posts
msg #57645
Ignore TheRumpledOne
12/5/2007 7:09:41 PM

dbyrt

"I was trying to stay out of this discussion, ..."

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

Thanks for posting.

curmudgeon
103 posts
msg #57650
Ignore curmudgeon
12/5/2007 8:11:41 PM

TRO I don't doubt for a minute the method you describe works for you. However to dogmatically evangelize the death of "squiggly lines" in favor of this method is reckless and disrespectful to the financial welfare of others.

The method dbyrt described is a useful way of using your statistic. But the implication that because a certain amount of times in the past a stock went up this much ABOVE the open (not necessarily FROM the open) means that if it passes above .10 or .20 cents in one direction at the open that it will continue on to the high or the low is a stretch. There is no possible way to come to that conclusion using the data as it is and to recommend inexperienced people to scalp like this is recklessness.

It is a disservice to the standing you hold on this forum.

TheRumpledOne
6,358 posts
msg #57665
Ignore TheRumpledOne
12/6/2007 12:44:01 AM

curmudgeon:

You really have missed my point.

When it comes to squiggly lines, many traders forget that it's PRICE that is the input to the squigglies in the first place.

Too many people think that if an indicator is X then the Price will become Y, when it is the other way around!!

In fact, I do the new people a favor when I introduce them to the concept of using HORIZONTAL LINES on the chart and trading the STATISTICAL trades.

You know you can run statistics on squigglies too.





curmudgeon
103 posts
msg #57696
Ignore curmudgeon
12/6/2007 11:19:48 AM

The problem isn't the method. It's inexperienced people who inevitably will try to emulate you. They don't understand risk/reward well and learning the hard way on RIMM or AAPL isn't good advice.

SFMc01 comes to mind. Here's the poor guy trying to do what he thinks you said to do and he's immediately in the red on a very high ATR stock.

You're the most prolific script writer known to mankind. You take all these ideas from various authors and make them happen. I truly appreciate your help as I know we all do. You're dogmatic and I have no doubt you truly believe what you're saying. Some of the things you say sometimes though, an experienced person will recognize as risky , whereas, an inexperienced person will not know the difference.

alf44
2,025 posts
msg #57697
Ignore alf44
modified
12/6/2007 11:43:33 AM

Hmmm...

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

"(High - Open) is a "statistic" related to trading the open in exactly what way? ... I don't see how this is a "statistic" in regards to an edge trading across a fixed line from the open and in particular to trading at the open."

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

"The problem isn't the method."

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

So...which is it ?

Can't have it both ways !!!


Regards,

alf44

curmudgeon
103 posts
msg #57700
Ignore curmudgeon
12/6/2007 12:45:12 PM

Alf why does my gut say there's something fishy about you?

Anyway the answer is:

"Some of the things you say sometimes though, an experienced person will recognize as risky , whereas, an inexperienced person will not know the difference."

A better choice of words was in order such as "the problem isn't the method per se" but I must confess I'm tired.

I saw a problem, I did what I knew to be right and now I can wash my hands of being party to it by not saying anything.

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