StockFetcher Forums · General Discussion · What do you do AFTER you run your filters?<< >>Post Follow-up
TheRumpledOne
6,358 posts
msg #36662
Ignore TheRumpledOne
7/2/2005 8:03:49 PM

I would like to know what my fellow SF members are looking at when they are selecting stocks.

If not volume, trend, crossovers and/or extremes of the popular measures, then what?

What is your entry trigger?

Do you just buy one/some/all of the stocks from your filter?

Do you load your stocks into a real time portfolio tracker and base your entry on what you see? What is it that you see that causes you to enter the trade?

THANKING YOU IN ADVANCE.



da-net
55 posts
msg #36668
Ignore da-net
7/2/2005 9:06:24 PM

The Rumpled One,

I am extremely new (my opinion) using Stockfetcher, but I have read many of your posts and are a little suprised by this one...Unless it is idle curiousity or you are performing a study! I readily admit I have NOT read ALL your posts. I hope that I do not offend you with my reply.

Pardon me for quoting you, but that is my way of keeping a train of thought.

"If not volume, trend, crossovers and/or extremes of the popular measures, then what?"

As you are aware;
Volume=Liquidity...without it you are at the mercy of the market and may not get out when you want to or at your price.
Crossovers are lagging indications of past history and should only be used for that.
Extermes of popular measures are not foolproof; EG: the market can stay overbought or oversold longer than you can stay liquid.

"What is your entry trigger?"

As you well know, a trader should not use any single entry trigger but should use multiple ones as this will usually keep oneself out of problematic trades.

"Do you just buy one/some/all of the stocks from your filter?"

As you know a FILTER is just that...a filter, it should be used to reduce the universe of stocks, etc to a manageable level thereby reducing the time required to find POTENTIAL trades.

"Do you load your stocks into a real time portfolio tracker and base your entry on what you see? What is it that you see that causes you to enter the trade?"

Further study should be done whether that is technical analysis, fundamental analysis, sentiment, general market, and news...before a trader accepts a trade. Furthermore one should not feel that one has to trade every day as this is a very dangerous position and usually results in overtrading and losses.

I hope this gives you some insight into what I look at before entering a trade.




judgetrade
106 posts
msg #36676
Ignore judgetrade
7/3/2005 5:51:45 AM

TheRumpledOne,

I am looking for panic. Markets are inefficient because humams have feelings. The strongest feeling in the market is panic. So I buy panic.
RSI 2 is a good indicator to find it.


judgetrade
106 posts
msg #36677
Ignore judgetrade
7/3/2005 5:56:44 AM

I buy all of the stocks found by my filter, if more then 1 then I split them by the daily budget.

I buy at the close before the filter would have found it.

Example:
and close 1 day ago more than 5% below close 2 day ago
and close more then 10% below close 1 day ago

I use the following filter to find the candiates:
and close more then 5% below close 1 day ago and look
for stocks that lose more then 10% on that day. at the close I buy.
Usually you will not get this price the next day, since very often
the stocks pops up and I want to have this positive Gap.






dangreene
133 posts
msg #36681
Ignore dangreene
7/3/2005 8:59:49 AM

I like to look for strength after weakness.

RSI(2) is great to help identify a low or weakness on daily or weekly charts.

Having found candidates using RSI(2) on a daily or weekly filter, I wait for a indication of strength using DMI, Stochastic, Williams %R, Volume and again RSI(2) using 60 minute charts intraday to arrive at a entry point.

I would like Stockfetcher to provide the ability to run filters intraday using a 60 minute time frame even if a 15 or 20 minute delay is necessary.

In my opinion, all the time, effort and resources spent by Stockfetcher in developing the backtest feature would have been better directed toward providing a intraday filter.

JMHO



TheRumpledOne
6,358 posts
msg #36685
Ignore TheRumpledOne
7/3/2005 1:34:29 PM

Not performing a study...

Ok to quote me anytime you want... no offense taken.

It's just that a few people seem to have a negative reaction to my using my BASIC FILTER to answer questions on this forum.

My intention was to answer the question, show how you don't have to reinvent the wheel each time and provide a comprehensive analysis tool. I also get to learn new things from others... newbies and old pros alike.

As far as SF going realtime, that's probably not going to happen.

I use TradeStation and I have 60 minute realtime. I download my list of stocks from SF, load the list into TS and have realtime 60 minute RSI(2), EMA(5), etc...

I would still like to learn what others are looking at after they run their filter(s).

Thanks again.


da-net
55 posts
msg #36690
Ignore da-net
7/3/2005 2:36:25 PM

The Rumpled One,

I agree with both you and your critics. You are correct that the wheel does not need to be reinvented each time. Your critics are correct in that you do seem to post your filter a little too much (IMO). Perhaps a compromise could be reached in that you post a link only to your filter, but more importantly you should comment each line in your filter like a good command line programmer. That way both views could be satisfied and those using your filter will understand your thought processes into its construction and how they might modify it for their specific use.




TheRumpledOne
6,358 posts
msg #36696
Ignore TheRumpledOne
7/3/2005 5:21:47 PM

Judge:

I like your idea, let's see if the filter works

Da-Net:

I hear what you say... so I will call it the STOCK DASHBOARD DISPLAY. Since the "basic filter" really isn't filtering on it's own.. it is just displaying the results of various indicators.




CLICK ON THE MAGNIFYING GLASS ICON:


Fetcher[
/* your filter code goes below this line */

set{drop2a, close 1 day ago - close 2 days ago}
set{drop2, drop2a / close 2 days ago}
set{drop1a, close - close 1 day ago}
set{drop1, drop1a / close 1 day ago}

add column drop1
add column drop2

and close 1 day ago more than 5% below close 2 day ago
and close more then 10% below close 1 day ago

sort column 5 descending

/* STOCK DASHBOARD DISPLAY for newbies and old pros */

set{E36b,days(ema(3) is above ema(6),100)}
set{E36a,days(ema(3) is below ema(6),100)}
set{E3xE6, E36a - E36b}

set{E50200b,days(ma(50) is above ma(200),100)}
set{E50200a,days(ma(50) is below ma(200),100)}
set{M50xM200, E50200a - E50200b}

set{E1326b,days(ema(13) is above ema(26),100)}
set{E1326a,days(ema(13) is below ema(26),100)}
set{E13xE26, E1326a - E1326b}

set{CCb,days(close is above close 1 day ago,100)}
set{CCa,days(close is below close 1 day ago,100)}
set{CxC, CCa - CCb}

set{E5b,days(close is above ema(5),100)}
set{E5a,days(close is below ema(5),100)}
set{CxE5, E5a - E5b}


set{E50b,days(close is above ma(50),100)}
set{E50a,days(close is below ma(50),100)}
set{CxM50, E50a - E50b}

set{E200b,days(close is above ma(200),100)}
set{E200a,days(close is below ma(200),100)}
set{CxM200, E200a - E200b}


set{T10, count(10 day slope of the close above 0,1)}
set{T60, count(60 day slope of the close above 0,1)}
set{T200, count(200 day slope of the close above 0,1)}

Set{a1, T200 * 1}
Set{a2, T60 * 10}
Set{a3, T10 * 100}

Set{aa, a1 + a2}
Set{TREND, aa + a3}

set{v, volume 1 day ago}
set{volinc, volume - v}
set{volpc, volinc / v}
set{volpct, volpc * 100}

set{VolZ, days(volume < 1,100)}
set{VolUp, days(volume is below volume 1 day ago,100)}
set{VolDn, days(volume is above volume 1 day ago,100)}
set{VolCnt, VolUp - VolDn}

set{vck1, volume 1 day ago }
set{vck, volume / vck1 }
set{vdbl, days(vck < 2, 100)}


set{PARBuy, count(close crossed above Parabolic SAR, 5) }
set{DMIBuy, count( di(14) Difference crossed above 0 , 5) }
set{DMIBuyX, count( di(14) Difference above 0 , 1) }

set{PARSell, count(close crossed below Parabolic SAR, 5) }
set{DMISell, count( di(14) Difference crossed below 0, 5) }
set{DMISellX, count( di(14) Difference below 0, 1) }

set{PARSBuy1, PARBuy * DMIBuy}
set{PARSBuy, PARSBuy1 * DMIBuyX}

set{PARSSell1, PARSell * DMISell}
set{PARSSell, PARSSell1 * DMISellX}

set{PARSTrade, PARSBuy + PARSSell}

set{HiOp, high - open}

and add column VolCnt
and add column Vdbl
and add column volpct

and add column HiOp
and add column Trend

and add column CxC {CxC_}
and add column CxE5 {CxE5}

and add column E3xE6 {E3xE6}
and add column E13xE26 {E13xE26}


and add column CxM50
and add column CxM200
and add column M50xM200

add column rsi(2)
add column weekly rsi(2)

add column PARSBuy
add column PARSSell


and draw Parabolic SAR
and draw +di(14)
and draw -di(14)
and draw adx(14)
and draw di(14) difference

]






BigOh
23 posts
msg #36706
Ignore BigOh
7/4/2005 11:51:14 AM

Interesting question.
I spend some time doing a little research into why these stocks have come across my filters(Mainly bottoms and channels) and depending on the news or events I watch them for the move. I try to trade each stock differently since there are different people involved on the other side.
I do look for an increase in volume, size of orders on each side and block trades and where they are in the spread.
A good thing I have picked up from this website has been the "wait for green" theory. Has kept me from launching large baskets of trades and having 2 or 3 picks destroy the day for me.


SurfnDestiny
78 posts
msg #36724
Ignore SurfnDestiny
7/5/2005 6:03:31 PM

I run the RSI(2) filter with my addition of an ascending center of gravity, COG(3) signal first. I look for candle patterns that look like the bottom of a cup forming. If no hits with COG(3), then I expand to a general RSI(2) search, but still looking for a cup bottom pattern. I use the free stock-analyzer website program to further analyze for a coming reversal. I set up the stock-analyzer program for an RSI(5) signal - (it seems to correspond with RSI(2) closely on this site, I don`t know why. If I put in RSI(2) on stock analyzer, the signal is too wild to make sense of.) I look for its RSI(5) to be in the dirt, with the commodity channel index indicating reversal, I pull the trigger. The cup bottom pattern seems to be the best bet for a reversal to last several days.

I will sell when certain single events occur. The RSI(5) on stock analyzer crosses above 75. Or, I have reached a 5% gain in price. Or, the commodity channel index signal on stock analyzer imdicates a reversal negative. This is not set in stone. Sometimes I temp fate and try to ride higher than a 5% gain, but the 5% rule has saved me from some losses that did occur the next day, and I have been burned by being greedy.

I have to go through all this because I cannot watch the market all the time, I have to work. I started doing this routine since February and I have been ahead ever since. On dog days when the market falls 100 points or more, or if there is only a one day bump up, and the price continues down, my picks generally may fall no more than 1%, if they do fall. With RSI(2) the stock is pretty much already hammered into the dirt, and has only one other way to go, unless there is some bad news that keeps driving the stock down.


StockFetcher Forums · General Discussion · What do you do AFTER you run your filters?<< >>Post Follow-up

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