StockFetcher Forums · General Discussion · TRO<< >>Post Follow-up
JimG
9 posts
msg #42354
Ignore JimG
3/23/2006 12:56:27 AM

I have been watching these boards since I joined and posted my original hello post. What I have discovered is that I really know very little about the technical side of trading.

Let me give you a little history on my trading. I started on 13 Dec by opening a Sharebuilder account with 2000.00 dollars. I realized very quickly that Sharebuilder wasn't for me and had closed the account within a week and transferred my original investment plus the 300.00 I had made to E-trade. I added an additional 7700.00 dollars to the account bringing the total to 10K. I started trading and did fairly well over the next few weeks. By the end of January I was able to fully fund an IRA account for 2005 and 2006 from some of the profits while bringing my regular account up to almost 30k.

I did this with stocks like Taser and Irobot and ATI, along with a bunch of others thrown in. I had my misses but by religiously using a stop or trailing stop I was able to keep losses to a minimum. Then I did something very bad, I decided I needed to really learn how to use the charts I was looking at. In the last 4 weeks I have given back about 3000.00 dollars. I sat down last night and evaluated what was causing me to make so many loosing trades all of a sudden and realized that it isnít that I am picking the wrong stocks as I am totally blowing my entry and exit points. I have been reading all the posts on all the forums here and the underlying theme seems to be what you end every post with. To paraphrase ĖItís not what you trade but how you trade it-.

I look at all these filters and am totally confused now. I have no idea what most of the columns are or what the numbers inside them represent. I am not looking for someone to spoon-feed me stocks, but I was hoping you could take the time to explain what the various columns are for and what the numbers represent. I would also be very appreciative of any advice you can give on entry and exit strategy. I realize this is asking a lot, but you seemed to be one of the more knowledgeable people here so I thought I would ask. Thank you for any advice and wisdom you are willing to share.

I was thinking of switching over to Tradestation but have decided to wait. I need to prove to myself that I can make a go of this before incurring that type of monthly investment.

Thanks for taking the time to read this,
Jim




TheRumpledOne
6,358 posts
msg #42365
Ignore TheRumpledOne
3/23/2006 7:35:47 AM

Column

Trend - 10/60/200 day trend based on slope of the close 1 = up , 0 = down

HiOp - High minus Open... tells me the potential for scalping

OpLo - Open minus Low... tells me how much cheaper I could have bought the stock

Profit - how much I could have made, had I bought the stock at the open 5 days ago.

BallOn - The support line is 0 and the resistance line is 100, this is like a temperature gauge. But I think in terms of football yard markers. Remember the GridIron?

Resist - dynamic resistance based on High 5 Day High

Support - dynamic support based on Low 5 Day Low

rchg - 1 if resistance changed, 0 if same as yesterday

schg - 1 if support changed, 0 if same as yesterday

bbtrend - consecutive days bollinger bands getting wider(+)/narrower(-)

atrtrend - consecutive days Average True Range getting wider(+)/narrower(-)

wrval - normalized williams %r(10) (scale of 0 - 100)

adval - normalized accumulation/distribution (scale of 0 - 100)

rsval - rsi(2)

moval - normalized momentum(12) (scale of 0 - 100)

clxcl - consecutive days close above(+)/below(-) previous day's close

vlxvl - consecutive days volume above(+)/below(-) previous day's volume

vdbl - consecutive days volume doubled

hixhi - consecutive days high above(+)/below(-) previous day's high

loxlo - consecutive days low above(+)/below(-) previous day's low

bullpower/bearpower - ask Riggs...lol

blxbl - consecutive days Bullpower increasing(+)/decreasing(-)

brxbr - consecutive days Bearpower increasing(+)/decreasing(-)

That should bring you up to speed on what the columns mean.

Now, how to use them... that's been debated.

One thing for sure, any stock that doubles it's volume 2 days in a row, has to double it the first day so look for stocks with VDBL = 1.

Look to buy stocks bouncing off of dynamic support.

Look to buy stocks that are trending up... TREND = 1, 10, 11, 100, 110, 111

Look to buy stocks after the Bollinger Bands and ATR have been contracting at least 2 days or more. The longer they contract, the bigger the pop (in theory).

Look to buy stocks that have volume increasing.

Look to buy UPTRENDING stocks that have bottomed in the WARM display.

Look to buy stocks breaking through previous dynamic resistance.
===============================================================================

There's more columns but I don't have a complete glossary.

Perhaps someone out there has assembled one.

HTH.

MAY ALL YOUR FILLS BE COMPLETE.


greg00623
10 posts
msg #42371
Ignore greg00623
3/23/2006 9:02:20 AM

10K to 30K in a month? What's the problem?


JimG
9 posts
msg #42373
Ignore JimG
3/23/2006 10:56:50 AM

TRO,
Thanks this will help alot.

Greg,
It was probably more beginners luck than skill. I was buying stocks that were being beaten down for one reason or another that I felt would do better longer term. As an example I bought taser while it still had the Q at the end of its symbol. I bought that stock because i believed in the company and its product. Sure occasionly someone dies from being hit by one, but think how many would be dead or maimed in some way if tasars didn't exist and bullets were used instead. That is usually the only other option. When I finally sold it I was up over 4 dollers a share.

Back then I would buy and hold a stock, maby a part of my problem now is I am looking to get in and out instead of looking longer term. Maby I should put my 1-min and 5 min charts away and go back to longer term trading.


TheRumpledOne
6,358 posts
msg #42377
Ignore TheRumpledOne
3/23/2006 1:20:52 PM

More documentation:

/* Cx5: 1 = close crossed above ema(5), -1 = close crossed below, 0 = no cross */

/* Cx13: 1 = close crossed above ema(13), -1 = close crossed below, 0 = no cross */

/* x1326: 1 = ema(13) crossed above ema(26), -1 = ema(13) crossed below ema(26), 0 = no cross */

/* xBB:
1 = High crossed above Upper Bollinger Band(20),
2 = close above Upper Bollinger Band(20),
0 = no cross,
-2 = close below lower Bollinger Band(20),
-1 = Low crossed below lower Bollinger Band(20) */

/* xLR:
1 = High crossed above Top Linear Regression Line(60),
2 = close above Top Linear Regression Line(60),
0 = no cross,
-2 = close below Bottom Linear Regression Line(60),
-1 = Low crossed below Bottom Linear Regression Line(60) */


OBOS = 0 if not overbought or oversold, < 0 if oversold, >0 if overbought based on rsi(2)

Trend = 1 if up, = 0 if down

doji is number of days since last doji (Open = Close)

pd2345 and pd6789 are POSITIVE DIVERGENCE indicators... 1000 for pd2345 is a 2 day pos div, 100 is 3 day, 10 is 4 day and 1 is 5 day... ditto for pd6789

nd2345 and nd6789 are NEGATIVE DIVERGENCE indicators... should be obvious to the reader!

CxC is number of consecutive days close above (+)/below(-) previous close

volup is number of consecutive days volume increasing

btsize is bottom tail size (close - low)

pct1, pct2, pct5 is number of days out of last 100 days the stock went up 1,2,5 pct from the open price.. can use for exits!!

p1l is High - Open (for going long)

p1s is Open - Low (for going short)

rr is the rsi(2) low indicator if 200 then current rsi(2) is at a 200 day low, 50 = 50 day low, etc...

streak is the number of consecutive days rsi(2) < 1

Cx5 is 1 when close crossed above ema(5) BUY!, -1 when crossed below - don't buy!

Cx13 is 1 when close crossed above ema(13), -1 when crossed below

x1326 is 1 when ema(13) crossed above ema(26) BUY!, -1 when crossed below - don't buy!



greg00623
10 posts
msg #42378
Ignore greg00623
3/23/2006 1:37:09 PM

Jim,

I'm sorta in the same boat. When I had a day job, I was buying and holding stocks maybe 3-5 days and was averaging a fair 50-150% yearly returns the past 3 years. I recently got laid off from my day job and started day trading. My account has been dropping ever since. Check out the thread "bollinger bands" posted today in the filter exchange forum. It was a thread started by Muddy 3 years ago and is probably the best info out there for mid-term(5-10 days) trading. Lots of good info. in it. Good luck.

Greg


itrademan
70 posts
msg #42381
Ignore itrademan
3/23/2006 2:43:39 PM

TRO,
Thanks again for going thru the trouble for putting the information for new people like us.

JIM,
I am not a day trader and I did not make really big profits like you. But I face similar problem like you. Stockfetcher is good for filter but we tend to get lost in these entire filters and don't know how to correctly use them and trade them. I am holding back and trying to learn from the pros here. It gave me much more knowledge but is short of confidence right now. I will need more time.

I am trying to focus on few filters instead of getting lost in all the info-jungle. May be pros can list some good swing-trading filters together to help us.

I appreciate all the knowledge provided here. Hope to use that with good strategy (How we trade).



TheRumpledOne
6,358 posts
msg #42383
Ignore TheRumpledOne
modified
3/23/2006 3:31:51 PM

itrademan:

Go here and listen to the Mark Douglas chats at least TWICE!!

http://www.woodiescciclub.com/start.htm

HTH.



itrademan
70 posts
msg #42406
Ignore itrademan
3/24/2006 12:30:22 AM

Hey TRO, as always you tend to help ASAP. The chat did help to some extent.
But there seems to be misunderstanding I am not fearing to trade but trying to go in with a better strategy than just jumping in trade without proper stop-loss and exit-strategy etc.

The backtesting at SF does not seem to provide same day exit. Is there a way around (except manual testing)?



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