JoeGrossinger
165 posts
msg #29634
- Ignore JoeGrossinger |
11/4/2003 11:03:41 AM
Normally I use MOAF to give me a good list of prospects and work from that list.
I wait for a positive 5/10 crossover on the 60 minute chart and then make my buy. This system works fairly well IF you are careful in your screening using the daily chart. This is what got me into DCUT. The W (double bottom) is nearly complete now and DCUT is moving by 10% per day. Not bad.
However, I still had a couple of bucks left over so I bought MCEQ at .06 this morning and sold it at .07 less than an hour later for a tidy 16% profit.
Buying a stock that is down 30% or more on the 60 minute chart is a bit risky but can be very rewarding.
I passed on AVGC at .11 because I am comitted past my eyeballs with DCUT but that also gave a great 9% return had I sold at .12 and then gone fishing.
Basically, that is how I do it.
I use MOAF to point me to the movers and shakers and then will go either way in my buys. I will buy a beaten down dog that fell another 35%+ on the 60 minute chart early in the morning or I will go with the 5/10 Xover if the daily chart looks good.
I never see much reason to get myself into a sweat and make only a few trades a week.
I generally sell when the RSI(2) AND the RSI(5) are both in the +75 - +85 area for those stocks that I buy using the Xover, but for the beaten down dogs I will bail anytime, especially once it makes me 10% or more.
I seldom trade a stock like DCUT but that technique of selling on strength and then buying the pullback can really multiply your holdings. If I'm lucky I find one of those trades a week and jump on it. DCUT is getting close now.
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ww4321
5 posts
msg #29635
- Ignore ww4321 |
11/4/2003 12:50:58 PM
what is MOAF??????????????????????
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JoeGrossinger
165 posts
msg #29636
- Ignore JoeGrossinger |
11/4/2003 1:28:50 PM
MOAF is my own filter. No, I don't publish filters but there are plenty of good ones in the Filter Exchange area.
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nrd1exr
14 posts
msg #29640
- Ignore nrd1exr |
11/4/2003 8:48:10 PM
There is a guy out there named Jack Carter who claims that
he has a way to get all stocks 99% to move up. This list is in
a free Web-Site. Then he says that this list of stocks can
be refined by a triple filter to increase your chances even further.
This filter also comes in a free web site.
Does any one know what the guy is talking about?
Thanks,
Elias
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TheRumpledOne
6,407 posts
msg #29646
- Ignore TheRumpledOne |
11/5/2003 1:58:41 AM
Out of curiousity what does MOAF stand for?
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Skeksis
36 posts
msg #29648
- Ignore Skeksis |
11/5/2003 2:10:53 AM
haha Mother Of All Filters
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TheRumpledOne
6,407 posts
msg #29650
- Ignore TheRumpledOne |
11/5/2003 11:14:33 AM
"It's NOT what you trade, it's HOW you trade it"
If the MOAF spits out XYZ as a buy and you buy it let's say for $5.00 and it goes to $6.00 that day. Do you sell?
If not, and it drops to $4 the next. What good was the filter?
The point is, you must TRADE the stock and MANAGE THE MONEY.
Failure to do so will result in loss. Don't blame the filter.
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