miketranz
956 posts
msg #160641
- Ignore miketranz |
11/9/2023 2:01:48 PM
52 Week low reversal filter help.Find stocks under $10 that made a 52wk low then within 10 days broke above a 10 day MA.Thanks,Miketranz....
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dwiggains
441 posts
msg #160646
- Ignore dwiggains
modified |
11/10/2023 9:56:45 AM
see ya
david
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miketranz
956 posts
msg #160648
- Ignore miketranz |
11/10/2023 12:29:05 PM
Great stuff.Thanks Dave
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sulldt
28 posts
msg #160655
- Ignore sulldt |
11/13/2023 4:35:46 PM
That's basically what I have been doing. Waiting till it drops back to the ema(10) to buy. Can't get any consistency. Some times it works, some times it doesn't. I tend to buy the ones where it doesn't. Can't find any indicator to weed out the don't work ones.
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dtatu
143 posts
msg #160665
- Ignore dtatu
modified |
11/17/2023 7:02:36 PM
As they say: Wall Street wants you to buy Low - Sell High , because it does not work.
What works is : Buy High- Sell higher. ( buy into strength) .
Please, See the link here for a study on buying 52 week highs with a trailing stop of 5,10,15% , done on the Dow 30 stocks. Simple , set it and forget it.
KISS.
https://www.thetraderisk.com/is-buying-stocks-trading-at-52-week-highs-a-profitable-trading-strategy/
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snappyfrog
653 posts
msg #160667
- Ignore snappyfrog |
11/17/2023 7:15:12 PM
Interesting read on the 52 week high backtest. I'll have to look into this.
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novacane32000
331 posts
msg #160669
- Ignore novacane32000 |
11/20/2023 9:06:55 AM
@dtatu A caveat on that 52-week high strategy if you read to the end
"A trader will need to be able to endure long stretches of sideways (no performance) for months and even years at a time if they plan to trade this type of strategy. This is something we discuss more in the video."
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dtatu
143 posts
msg #160671
- Ignore dtatu |
11/20/2023 6:24:26 PM
Yes; usually in “trend following “ you make your money for the year in 2-3 months . The rest, you’re in a drawdown. Do not forget: this is the Dow 30 stocks which have a high correlation with the “ stock market( S&P) .
You should make a symlist /watchlist of uncorrelated assets.They don’t go down all together.( Ex: commodities: they have almost all equivalent ETFs , at present). Sugar ( Cane) , uranium( URNM/URA), Nat Gas( UNL), etc etc. Avoid having, besides SPY , anything with a correlation of more than .7?
I’m almost certain it should work , with less lengthy drawdowns.
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miketranz
956 posts
msg #160672
- Ignore miketranz |
11/20/2023 7:36:55 PM
To clarify,the intent of this filter is not to buy at 52wk lows.The intent is to identify stocks breaking out above a (10) day ma on higher than normal volume,an abrupt change of direction/demand.It's intended to be a 1-4 day swing trade at best.That's the story.Mikeranz....
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dtatu
143 posts
msg #160673
- Ignore dtatu |
11/20/2023 8:00:13 PM
OK.My own experience in system trading ( 20 yrs+),did never produce a positive expectancy in this situation( Daily only, in a weekly +/- Monthly downtrend).
It only worked when I confirmed the same trend in 2-3different Time frames( d-wk-monthly).
But ,of course , I might very well have missed things.
“Buy High,sell Higher” (in at least 2 , ideally 3 time frames).
Basically: buy daily dips in a strong weekly and monthly trend.( personal opinion,of course)
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