StockFetcher Forums · General Discussion · holy grail or his trading buddy i have a question<< 1 2 3 >>Post Follow-up
eyoung
42 posts
msg #27859
Ignore eyoung
8/14/2003 11:49:36 PM

rup, thanks for the time and patients i really appreciate it. i would love to stay at home to trade and give my family more than i do now.
thnanks eric


eyoung
42 posts
msg #27860
Ignore eyoung
8/15/2003 12:28:30 AM

rump, im reading your post im still confused. I saved your filter you gave me. Im sorry iM slow at this. I have questions, you tell me to look at hd charts the year/w and 3m/d to see bottom out what determines a bottom out. am i going to use your filter for both a weekly and daily search. You tell me to use the rsi (2) lin reg ch 100% with 13 and 26 ema for my study, will these be combine with the other filters you gave me, or do i used the filter you gave me and take those stocks and see if they are in 13 and 26 cross over. What is a rsi(2) lin reg ch 100%?
thanks eyoung


eyoung
42 posts
msg #27861
Ignore eyoung
8/15/2003 1:15:22 AM

rump, what is rsi mean, i see someone rsi 12< 80 what does this mean


TheRumpledOne
6,358 posts
msg #27866
Ignore TheRumpledOne
8/15/2003 11:59:47 AM

RSI is Relative Strength Indicator

http://www.e-analytics.com/techdir.htm

Use the above site to learn all about techinical indicators.

Then if you have further questions, ask.




eyoung
42 posts
msg #27874
Ignore eyoung
8/16/2003 12:11:49 AM

rump, please look at my second last post above regarding the charts you told me about. I typed out a question
thanks
eric


Koronbock
201 posts
msg #27876
Ignore Koronbock
8/16/2003 4:45:36 AM

Go to the website indicated above and learn about the RSI. It is a very valuable concept. You can also go to GOOGLE and type in "RSI" and you will find several websites that explain everything. AFTER you did that, come back and ask questions if you still have any.



AntNet
36 posts
msg #27878
Ignore AntNet
8/16/2003 1:37:17 PM

I don't often chime in but feel compelled to at this time. SF is a resource, it is a tool. ANY filter made WILL work given the APPROPRIATE conditions. Some will work better than others over more diverse market conditions. Each has its own strengths and WEAKNESSES. Muddy, Ron, HG and Trading Buddy, and Joe, to name a few, have offered very good filters that contributed greatly to SF Subscribers. I agree with almost everything that has been said in the forums (ignoring the bantering of personal attacks) but find that newbie's may be being misguided into thinking that one filter or another is all that is needed to produce CONSISTENT positive results.

Unfortunately, those of us that have been trading for some time have developed internal senses (some good, some bad) that become assumed and second nature to us. Like using a turn signal when driving. Most good drives use the signal without thinking!

The point is a filter, any filter, is only an indication or invitation to consider entering the market. You MUST also learn how to read the market road map (CHARTS) in order to reach a desired destination / outcome. Like any trip or journey the relative degree of success will be DIRECTLY related to the tools you have available, knowledge and expertise in using the resources available, and MOST IMPORTANTLY the PRIOR PLANNING (including contingencies for obstacles and unexpected events), (Money Management) and rehearsal (paper trading) done before you enter and likewise planned exit strategies. I'm sure it's probably my military background (over 20 years of disciplined training and preparatory exercises) that shapes my thinking and that I'm trying to share with SF subscribers.

Don't rely exclusively on other peoples information! That is not to say their methods are not excellent TOOLS. But, until one fully understands and can INTERNALIZE the information and its application, it's like giving someone a loaded gun without good prior instruction and training. You may hit the target, but you could also shoot yourself in the foot or worse!

Not to pick on HG, but I will use his filter as an example because it is a good simple one to evaluate. Do you realize that the use of Linear Regression, as applied in his filters, will ALWAYS be 100% accurate at identifying market / individual equity turning points? You may say, that is wonderful news until you ask why??? The answer is, "IT WILL ALWAYS ADJUST TO NEW HIGHER AND LOWER CLOSES IN THE PERIOD BEING EXAMINED". That is why looking back at charts makes it look so impressive and yet it's not uncommon for trades taken to be unrewarding. Without knowing that Linear Regression is self adjusting, a newbie could be lulled in to some false confidence and get burned.

I hope my perspective will be of some benefit. If you want to play the game and stay in it, you need to know the rules. But just like anything else, there are the "book rules" and the "practical applications" that work in the real world. If you wish to praise me for this post please don't take up forum time and space. It's not necessary. On the other hand, if there is an inaccuracy that needs attention, please let everyone know. And finally, if you feel you must contact me for whatever reason, you can send a message to BlbAnt at hotmail dot com.

All the best in trading,

Bert


Koronbock
201 posts
msg #27879
Ignore Koronbock
8/16/2003 1:52:39 PM

Bert,
Great post! I could not resist praising you for this. I have trade stocks for more than 20 years but your words sum it up very wisely.

It can't be reiterated often enough: A FILTER is nothing more than that, a filter. A tool like a hammer in your tool box. Sometimes a hammer is great to have. Sometimes it is totally useless. MONEY MANAGEMENT is the key to success in my opinion, NOT tweaking filters endlessly. Good traders concentrate on their EXITS a lot more than on their entries. Yes, a good filter will give you a good entry. But you need to concentrate on your EXIT at least as much (and I think more), namely when to get out with a profit, when to get out with a loss, when to go in again, what percentage of your capital to risk and so forth).
Good trading.




TheRumpledOne
6,358 posts
msg #27881
Ignore TheRumpledOne
8/16/2003 9:06:30 PM

Bert:

Great post.

You are accurate when you say that Linear Regression is self adjusting. And that is why HG and I use it in combination with RSI(2) which is NOT self adjusting.

You are accurate about telling people to learn to read the charts.

You are accurate about filters NOT being the END. Filters are the BEGINNING. Some people think you run a filter, buy the stock and get rich. Well, that may happen but, as you, Joe G., I and perhaps others have pointed out, YOU HAVE TO TRADE THE STOCK... T R A D E! That means timing your entry/exit and money management.

Thank you for stepping up to the plate and posting. I look forward to learning a trick or 2 from you.

MAY THE TRADE BE WITH YOU.




eyoung
42 posts
msg #27884
Ignore eyoung
8/16/2003 10:22:35 PM

rump, i have read what rsi is it makes sense however, do me a favor read my post on 8/15 at 12:28 am and want to understand about charts.
thanks eyoung


StockFetcher Forums · General Discussion · holy grail or his trading buddy i have a question<< 1 2 3 >>Post Follow-up

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