alf44
2,025 posts
msg #41816
- Ignore alf44 |
3/7/2006 3:52:41 PM
"...I obviously need to get a better handle on this side of trading..."
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So do I !
This is WHY I started this thread !
I have a method...the method works okay...but, this IS an area in my trading approach that could stand some further streamlining and better organization !
The "IBD 100" approach mentioned earlier in the thread (by another poster) is prolly a pretty effective way to stay focused on "CANSLIM" type stocks that have the potential to move...AND...the "weeding out process" is done for you by IBD !
It's simple...and I like simple ! :)
I look forward to other's methods and or suggestions ! tia
Regards,
alf44
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alf44
2,025 posts
msg #41819
- Ignore alf44
modified |
3/7/2006 4:47:09 PM
This is a scan I am currently experimenting with to find and populate my Watchlist of "Trading Stocks".
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It starts out by calculating the AVERAGE DAY POINT RANGE...
...over the last 30 days
...over the last 60 days
...over the last 90 days
Then...it takes another AVERAGE of ALL of these averages (30,60,90) ! This combined average is the main thing I use to narrow down the list. I sort this list descending to show the largest DAY POINT RANGES at the top. Obviously, I prolly wouldn't include BRK.B ! lol
I require at least an AVERAGE DAY POINT RANGE of $1.50 !
Beyond that I want stocks above $10...with Avg. Vol and Vol over 500,000 !
Crude yes...but it does return a pretty nice list of very liquid stocks that show some volatility and that have nice daily trading ranges...over a wide array of Sectors and Industry Groups !
Regards,
alf44
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TheRumpledOne
6,407 posts
msg #41826
- Ignore TheRumpledOne |
3/7/2006 9:49:49 PM
I added the TREND column with a twist... I used your AvgDayRng variables to calculate the trend. A "1" means AvgDayRng is increasing and a "0" means AvgDayRng is decreasing.
HTH.
MAY ALL YOUR FILLS BE COMPLETE.
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alf44
2,025 posts
msg #41828
- Ignore alf44 |
3/7/2006 10:08:06 PM
RE: "Trend Display"
In re-writing it...as you did here...wouldn't/shouldn't :
T10 = T30 ???
T60 = T60 ???
T200 = T90 ???
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Just to make the syntax easier to follow ?
Regards,
alf44
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TheRumpledOne
6,407 posts
msg #41838
- Ignore TheRumpledOne |
3/8/2006 11:34:45 AM
Yes, Alf, you are correct... it was late, I was tired... it's the display that counts, not what's behind the curtain...lol
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alf44
2,025 posts
msg #41866
- Ignore alf44 |
3/9/2006 11:51:53 PM
A Simple But Illustrative Arithmetic Exercise
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I started thinking, after some of the posts here, just HOW MUCH TIME is spent...SHOULD be spent...do I WANT to spend...in my nightly ritual of going through my Watchlist and studying CHARTS...and CHARTS...and MORE CHARTS !!!
How many CHARTS ?
How much TIME SPENT on each CHART ?
How much time spent OVERALL ?
I decided to do some simple Arithmetic !
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A Watchlist consisting of :
25 charts...30 seconds spent/chart ---> would require 12.5 minutes !
25 charts...60 seconds spent/chart ---> would require 25 minutes !
25 charts....3 minutes spent/chart ---> would require 1 hour & 15 minutes !
25 charts....5 minutes spent/chart ---> would require 2.08 hours !
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50 charts...30 seconds spent/chart ---> would require 25 minutes !
50 charts...60 seconds spent/chart ---> would require 50 minutes !
50 charts....3 minutes spent/chart ---> would require 2 hours & 30 minutes !
50 charts....5 minutes spent/chart ---> would require 4.17 hours !
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100 charts..30 seconds spent/chart ---> would require 50 minutes !
100 charts..60 seconds spent/chart ---> would require 1.67 hours !
100 charts...3 minutes spent/chart ---> would require 5 hours !
100 charts...5 minutes spent/chart ---> would require 8.33 hours !!!
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Numbers don't lie !
The lesson(s) from this simple exercise...at least for ME is that :
I'm "looking" (more like glancing...definitely NOT studying) at WAAAY too many charts each night ! And...if I want the sort of "serious study" that I feel I need to be comfortable with my chart analysis...I MUST do two things !
1.) Fewer stock charts each night !
2.) More "quality" time spent on each stock chart !
Thoughts anyone ?
Regards,
alf44
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TheRumpledOne
6,407 posts
msg #41868
- Ignore TheRumpledOne |
3/10/2006 12:09:25 AM
If you create a watch list and use DISPLAY REPORTS (mine, ones you create or both) you should be able to decide which stocks are worth looking at quickly based on your favorite selection criteria.
It could be rsi(2), linear regression, bullpower/bearpower, WARM, etc... doesn't matter... the computer does most of the work.
For the stocks that are worth considering, you can take your time looking over the charts.
Before I knew about StockFetcher, I had a watchlist in www.prophet.net.
I could go through the list in no time at all because all I was looking for was RSI(2) < 1. About 2 seconds per stock.
The ones that fit the criteria would get a second look.
Now with StockFetcher, I get reports emailed to me. I look those over and see what stocks I want to trade... so many stocks, so little time...lol
MAY ALL YOUR FILLS BE COMPLETE.
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alf44
2,025 posts
msg #41871
- Ignore alf44
modified |
3/10/2006 1:21:44 AM
RumpledOne, thanks for the comments !
Regards,
alf44
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heypa
283 posts
msg #41880
- Ignore heypa |
3/10/2006 12:35:23 PM
Seems to me that your scans should select your stocks for consideration.A glance will tell you whether to pass or study.The real time lost is time waiting for stockfetcher to process and produce the charts.Charting sites such as Quotes plus which download the data to your hard drive where you process it will rapidly click from chart to chart saving process time (working off line) ,but none that I know of will give you the cost/value given by stockfetcher.Everything is a compromise. Live long and prosper.
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