mistlethrush
7 posts
msg #52484
- Ignore mistlethrush |
6/24/2007 9:37:46 PM
TRO,
Thanks for popping this one back to the top -- a good read. I've often thought that a skillful trader could choose a stock at random, and through a combination of timing, positioning, direction, and $ mgmt.; he (or she for our sisters out there) can turn a profit. Obviously a quality stock makes it easier to accomplish, but the real trick is strategy -- not stock picking.
Cheers,
/MT
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TheRumpledOne
6,407 posts
msg #52489
- Ignore TheRumpledOne |
6/25/2007 8:54:59 AM
Trick? NO.
Skill? YES!!
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nikoschopen
2,824 posts
msg #52492
- Ignore nikoschopen |
6/25/2007 10:08:08 AM
Now c'mon TRO, you and I know perfectly well that its...
90% LUCK
10% SKILL
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binhp
71 posts
msg #52495
- Ignore binhp |
6/25/2007 11:00:36 AM
Hi all,
ETFC RSI(2) is below 1. When do you think that it's time to buy ?
Thanks
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nikoschopen
2,824 posts
msg #52497
- Ignore nikoschopen |
6/25/2007 11:27:43 AM
Today's pullback rally is a bull trap IMHO. Here I'm speaking of the major averages. Of course, there will be stocks that will buck the trend (I'm holding two longs for myself). If you have distaste for shorting stocks, I would stay on the sideline until the dust settles.
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TheRumpledOne
6,407 posts
msg #52503
- Ignore TheRumpledOne |
6/25/2007 7:30:32 PM
Luck?
If you define luck as when preparation meets opportunity and one takes action.
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alf44
2,025 posts
msg #52520
- Ignore alf44
modified |
6/25/2007 11:14:42 PM
...post some trades in "real time"...TRO !
Let us ALL...witness your...uhhh..."skill" !
Otherwise...drink a big steamin' cup of STFU !!!
With all due respect of course !!!
Warmest regards,
alf44
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riro
25 posts
msg #52521
- Ignore riro |
6/26/2007 12:08:30 AM
TheRumpledOne: I always enjoy reading your posts as I am fairly new to trading and I'm trying to learn the tricks of the trade, no pun intended. I find your advice to be very helpful and enlightening as from a seasoned teacher or a mentor.
There was a statement posted in this thread on page 3 from marine2 that resonated with me. He said: "To find a particular filter and to learn how to use that filter correctly for that inquiring individual seeking success and satisfaction in the stock trading world is an important objective." Exactly, Its one thing to find a particular scan that produces a nice list of stocks, but its another thing to understand what the scan is telling you and how to interpret it.
You posted this:
TheRumpledOne
- Ignore TheRumpledOne 5/9/2005 8:25:07 PM
The RSI(2) method works PERIOD.
Doesn't matter bull, bear, sideways... it works.
RSI(2) < 1 gives you the heads up that a stock is bottoming but it is up to you to trade it.
1. Would you be willing to share that scan filter that your talking about in this thread? And explain how it works and what to look for, so traders like myself can scan for stocks and understand why a stock is a good candidate for a trade, rather than just guessing at which stock is right.
Thanks
riro
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nikoschopen
2,824 posts
msg #52523
- Ignore nikoschopen |
6/26/2007 12:35:23 AM
"The RSI(2) method works PERIOD.
Doesn't matter bull, bear, sideways... it works."
___________________
This is an utter nonsense. PERIOD.
It might work in a bull market, but you will lose ure shirt and some more should you use it in a bear market. Believe me, the bears will call ure bluff and reveal such B.S. in plain daylight for everyone to see. And don't hell tell me it's not WHAT you trade but HOW you trade...because this is exactly how you're NOT suppose to trade!
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binhp
71 posts
msg #52527
- Ignore binhp |
6/26/2007 1:45:00 AM
Niko,
Actually I have very good results with RSI(2) < 1 related filter. The win rate is EXTREMELY HIGH with stocks that have been beaten down. Since I trade options, I don't do stop losses. Here is the filter:
=======================================
Average Volume(30) is above 1000000
pe > 0
RSI(2) < 1
weekly RSI(14) is between 20 and 30
=======================================
Approach Information
Approach Name: RSI(2) < 1
Test started on 07/25/2005 ended on 06/25/2007, covering 482 days
Filter used:
RSI(2) < 1 (saved filter)
Trade Statistics
There were 127 total stocks entered. Of those, 117 or 92.13% were complete and 10 or 7.87% were open.
Of the 117 completed trades, 115 trades or 98.29%resulted in a net gain.
Your average net change for completed trades was: 9.91%.
The average draw down of your approach was: -7.28%.
The average max profit of your approach was: 12.24%
The Reward/Risk ratio for this approach is: 43.11
Annualized Return on Investment (ROI): 53.30%, the ROI of ^SPX was: 10.98%.
Exit Statistics
Stop Loss was triggered 0 times or 0.00% of the time.
Stop Profit was triggered 112 times or 95.73% of the time.
Trailing Stop Loss was triggered 0 times or 0.00% of the time.
You held for the maximum period of time (180 days) 5 times or 4.27% of the time.
An exit trigger was executed 0 times or 0.00% of the time.
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