WALLSTREETGENIUS
983 posts
msg #43932
- Ignore WALLSTREETGENIUS
modified |
5/20/2006 3:39:28 AM
"Riggs I like the Times sales (20) tool but I just did some backtesting on my trades from this past month where I used RSI2 and had I used ts 20 instead I would have left about 29 grand on the table for a later entry..Is there something Im missing?"
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as....leave that backtesting crap alone! In the last 30-day's on the NASDAQ, we had 17 down days! So what good is backtesting? Pick your spots man....and use the DMA-TSF(20)on intraday trades. As for daily's....you only want to enter at the BOTTOM of down swings and ride em in and out for 2-3 days. That kind of trading won't show up on backtesting methods.
- RIGGS -
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TheRumpledOne
6,407 posts
msg #43939
- Ignore TheRumpledOne |
5/20/2006 9:16:42 AM
" By waiting for RSI(2), you're ALWAYS losing out on top performing stocks. How often do see GOOD stocks with an RSI(2)below 1 anyway? Maybe once every six months!"
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You must be talking about daily rsi(2).
I don't see how you are losing out by waiting.
Stocks go up/down every day.
Waiting for daily RSI(2) < 1 on good stocks is almost a sure thing.
Waiting for divergence on RSI(2) gives you more entries and usually results in profits.
But for daytrading/scalping, I will agree RSI(2) is not the tool for stock SELECTION on a daily chart. Instead, use volume and ATR/ADR - and watch the "middle". Check out what HANS and SNDK did yesterday when they crossed the previous day's midpoint!!
If you have real time RSI(2), you can use it on a 60 minute chart and rake it in.
MAY ALL YOUR FILLS BE COMPLETE.
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TheRumpledOne
6,407 posts
msg #43940
- Ignore TheRumpledOne |
5/20/2006 9:18:26 AM
"leave that backtesting crap alone! In the last 30-day's on the NASDAQ, we had 17 down days! So what good is backtesting? "
Use backtest to make sure your code works.
Use statistics to make sure your method/strategy is statistically sound.
Always remember and never forget: ANYTHING CAN HAPPEN!
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clam61
92 posts
msg #43948
- Ignore clam61 |
5/20/2006 5:20:48 PM
"If you have real time RSI(2), you can use it on a 60 minute chart and rake it in."
If you use RSI(2) on a 60 minute chart, what period are you using? 5 minute? 1 minute?
Thanks
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WALLSTREETGENIUS
983 posts
msg #43962
- Ignore WALLSTREETGENIUS |
5/20/2006 11:20:31 PM
You must be talking about daily rsi(2).
I don't see how you are losing out by waiting.
Stocks go up/down every day.
Waiting for daily RSI(2) < 1 on good stocks is almost a sure thing.
Waiting for divergence on RSI(2) gives you more entries and usually results in profits.
But for daytrading/scalping, I will agree RSI(2) is not the tool for stock SELECTION on a daily chart. Instead, use volume and ATR/ADR - and watch the "middle". Check out what HANS and SNDK did yesterday when they crossed the previous day's midpoint!!
If you have real time RSI(2), you can use it on a 60 minute chart and rake it in.
MAY ALL YOUR FILLS BE COMPLETE
_________________
Avery....
Yes, I am talking about "daily RSI(2)" I have NEVER had a problem with intraday RSI(2), in fact....I never go a day without it. But were talking about "as214" using screens with "DMA & RSI(2)" IMHO, it's a recipe for disaster. But that's just me. "as214" is obviously doing quite well with it, and good for him.
Peace.
- RIGGS -
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as214
184 posts
msg #43966
- Ignore as214 |
5/21/2006 12:53:33 AM
Im using the RSI2 on the 10 day, 60 minute chart. I mostly position trade with my 5 core stocks. ALL of them have favorable sentiment in regards to Put/Call ratios.. THAT IS HUGE AND CANNOT BE EMPHASIZED ENOUGH. On the 10d/60min chart RSI 2 touching bottom 100 percent linear regression line + DMA 28,-14 horizontal to upwards sloping (Thanks Riggs) equals big money. All of this is conformation enough but if you want to make yourself feel better look at candlestick/volume! If it breaks down from there gets out at two candlesticks below the bottom linear regression line!
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TheRumpledOne
6,407 posts
msg #43973
- Ignore TheRumpledOne |
5/21/2006 10:22:24 AM
If you use RSI(2) on a 60 minute chart, what period are you using? 5 minute? 1 minute?
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I think you are confused.
RSI(2) is a 2 period RSI.
A 60 minute chart is a 60 minute chart.
So I am using RSI(2) on a 60 minute chart.
Understand?
HTH.
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clam61
92 posts
msg #43988
- Ignore clam61
modified |
5/21/2006 3:41:45 PM
ok i understand now.
i know rsi(2) is a two period rsi, but periods can be any time frame.
so when you talked about daytrading with rsi(2) using a 60 minute chart, i thought you would set the rsi period to be 60 minutes instead of daily.
what service offers real time charting with rsi(2)?
i use ameritrade that has real time rsi, but there are no period settings
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kb4444
24 posts
msg #44012
- Ignore kb4444 |
5/21/2006 9:43:48 PM
On the 60 min timeframes, are you waiting for the pattern to complete or are you jumping in as soon as you see the pattern... ie if you see the pattern at 10AM, are you entering right away or are you waiting until 10:30AM for the hourly bar to complete?
KB
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kb4444
24 posts
msg #44013
- Ignore kb4444 |
5/21/2006 9:55:01 PM
Fellas, any comments on Shld as a possible short soon? Thanks,
KB
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