StockFetcher Forums · General Discussion · nichoshopen<< 1 2 3 >>Post Follow-up
jrbikes
624 posts
msg #46264
Ignore jrbikes
8/8/2006 6:59:22 PM

I have been tracking a few of the DMA stocks I picked, they are all down, I decided to just watch them to see what happens, I also went back to some of the stocks I have seen on various sites, the ones that breakout and take off, its interesting, I have been seeing the same pattern develop over and over again, so I have decided to educate myself with some charting patterns that include the EMA (9) (5) the DMA(28,-14) and good ole fashion trend lines, sticky stock charts is a neat book, so some of the stocks I have watched in the past adhere to most of these patterns, I only need about 3 ( brain fog after that), mind you, I am a novice, but there is only one way to learn, I did good in the past, then I made it too complicated with all these indicators. thus the old trend lines, I am going back to my original plan with a couple of mods, you want to exchange Ideas? I am all ears, I am enthrawled with the OTCBB, it will be my nemisis!


nikoschopen
2,824 posts
msg #46265
Ignore nikoschopen
8/8/2006 8:53:52 PM

I seriously doubt there's a born trader who made his killing from day one. And I'm pretty damn certain that some of you paid a hefty tuition in the process. Whether ure trading stocks, futures, options or forex, adhere to a sound money management principle and stick to discipline and you'll probably be around this time 10 years from now.

With regards to EMA(9)/DMA(28,-14), I have a slight different setup. Instead of using the EMA(9), I use the Center Keltner(7) line. And I overlay the Keltner with the Bollinger bands(17). What I look for are particular patterns between the Keltner and the Bollinger bands, while the DMA(9) is used for entry/exit.

I can't go into specific details, but here's one way to play the Keltner/BB setup:

Go long when the upper Keltner channel touches the upper Bollinger band, especially in times of a Bollinger squeeze.


jrbikes
624 posts
msg #46266
Ignore jrbikes
8/8/2006 9:39:12 PM

that is new to me, I will check it out this weekend, its amazing how many systems can achieve the same results, its all a mind game! its like Bill Dance said, " If you dont have confidence in your bait, you wont catch any fish"
words to live by. I got to go wash clothes!


TheRumpledOne
6,358 posts
msg #46267
Ignore TheRumpledOne
8/8/2006 9:39:36 PM

Use indicators to SELECT stocks.

Once you're in a trade, TOSS THEM ASIDE.

It's all about PRICE!

If you're long and the trade is going your way, look for lower highs and/or lower lows. That's your clue to TAKE PROFIT.

MAY ALL YOUR FILLS BE COMPLETE.



ashraf999
33 posts
msg #46796
Ignore ashraf999
9/8/2006 2:08:27 PM

Niko,

Thank you first for your filter. It certainly opened my eye for new trading possibilities. I have been testing for a while Keltner and bollinger bands that you suggested. I would like to know if the following is a valid setup to go long for 1-2 days at the maximum:

Fetcher[ show stocks where lower Keltner Band(7) crossed below lower bollinger(17)
and price 1 day ago had been decreasing for the last 2 days
and close above dma(9)
and close 0 days ago > open 0 days ago
and price above 1.00
]


offset 0


nikoschopen
2,824 posts
msg #46797
Ignore nikoschopen
9/8/2006 5:14:03 PM

Let's not forget the priceless axiom that's pitched as ure one-size-fits-all trading remedy: "it ain't what you trade, it's how you trade." (dammit!) Hear, Hear.

Having said that, the Keltner/BB setup isn't written in stone. There are no explicit rules to go by other than to see how the two bands interact with one another. Hence, this is more a trading strategy than ure typical trading system. Well, that's no revelation.

Be that as it may, here's the first thing you need to understand. The center Keltner must be below DMA(28,-14) before taking any long position. Moreover, DMA(28,-14) should be trending higher. Now, strictly speaking, you can never be certain of the DMA(28,14) since it's trailing by 14-periods. You'll just have to extend the line out by 14-periods to guestimate where it might be based on the price movement for the last 14-bars. Also keep in mind that prices usually make a double bottom before making any meaningful rally. It's also preferable to see the lower Keltner line piercing below the lower BB, although it isn't required. Once the close crosses and remains above the center Keltner channel, you can safely make ure entry. Hence, you might want to slightly modify ure filter to reflect these changes. Let me know if I can be of any further help.


nikoschopen
2,824 posts
msg #46798
Ignore nikoschopen
9/8/2006 8:25:11 PM

Refer to the following link for a visual illustration of the above explanation. It's a screenie of the 5-min chart of the S&P eMini with my own annotations (yeah, I really use this in my trading). Think of each 5-min candle as a daily candle and you'll begin to get a better sense of what the hell is actually going on.


http://img373.imageshack.us/my.php?image=keltbollfn2.png


ashraf999
33 posts
msg #46865
Ignore ashraf999
9/12/2006 3:35:04 AM

I am not sure if this is closer to what you are suggesting but here is a try:

Fetcher[count(low 1 day ago crossed above center Keltner Band(7),7) equal 1
count(lower Keltner Band(7) below lower bollinger(17),7) equal 7
count(dma(28,-14) above center Keltner Band(7),7) equal 7
close 0 days ago > open 0 days ago
close above center Keltner Band(7)
price above 1.00
offset 0
]




ashraf999
33 posts
msg #46868
Ignore ashraf999
9/12/2006 6:12:02 AM

I don't think I am doing it right.

How can I define the priod starting from the day when cnter keltner(7) crosses below dma(28,-14)?


nikoschopen
2,824 posts
msg #46884
Ignore nikoschopen
9/12/2006 1:01:21 PM

According to my experience, it ussually takes anywhere from 5 to 10 days before the "double bottom" formation occurs. Therefore, you might want to define ure parameter as follows:

Fetcher[
days(center keltner band(7) crossed below dma(28,-14),10) above 4
]


Or, better yet, you can use upper Keltner instead of the center Keltner, knowing that the former is more slower to react in a downtrend (meaning that the center Kelt would cross the DMA before the upper Kelt). Feel free to ask if you need more help/clarification.


StockFetcher Forums · General Discussion · nichoshopen<< 1 2 3 >>Post Follow-up

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