no4j
45 posts
msg #26402
- Ignore no4j |
5/5/2003 2:31:01 PM
I wonder if any of you are afflicted with the same desease that has got me by the mouse clicker. When my setups are telling me to buy, I just can't help myself from putting a limit on the order at the bid price. Really stupid. I lose about a third of them. Is there a cure for this? I've heard there is but I just can't do it.
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Noahedwinbeach2
135 posts
msg #26419
- Ignore Noahedwinbeach2 |
5/7/2003 1:13:31 AM
I totally understand what you are talking about. Put a limit buy on the current price instead of the bid though. I just usually want to make sure I get it at the current price. Since the ask price is usually higher than the current price I just place the limit at the current price. There is nothing wrong with that. I like to use limit buys because I place a lot of my orders at night before the market opens. Most of the stocks I pick go up a whole lot real fast so usually there is a surge at the opening bell from all the overnight market orders that came in. I dont want to get a crappy price so I just place a limit buy on the closing price for the previous day. Usually the surge corrects, and I get my purchase at a good price. This doesnt work but half the time though because on the stocks I get most open higher than the previous close and never touch the previous close so you may want to put the limit 5% above the previous close or something. The stocks I buy are stocks that have a MFI that has been increasing for 2-3 consecutive days. I dont usually buy a stock that is above $2. These stocks advance rapidly and if you will look at 10 previous days ago on the filter you will notice the huge return under the performance column. I have learned to pick the best patterns for the best returns. It is a great world we live in :) Good luck!
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gruender
101 posts
msg #26433
- Ignore gruender |
5/7/2003 8:57:29 PM
Hi Noahedwinbeach2,
Would you be willing to share with us a sample filter that you use to find these candidates? Thanks, Joe
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no4j
45 posts
msg #26435
- Ignore no4j |
5/7/2003 9:25:32 PM
Noah.....I'd love to see that filter too! Thanks for the limit order advice. I'll start putting the limit at the last price instead of the bid.
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Noahedwinbeach2
135 posts
msg #26436
- Ignore Noahedwinbeach2 |
5/8/2003 12:21:11 AM
I would be delighted to share with you guys. By the way..I currently own NMSS..it was up over 10% today!
Show stocks where Average Volume(10) is above 50000 and +DI(14) crossed above 20.00 within the last 1 day and close is between 0 and 3 and volume is above 1
CHAIN
Show stocks where Money Flow Index (15) has been increasing over the last 2 days and Average Volume(90) is above 50000 and close is between 0 and 3
CHAIN represents a chain. You will need to chain those two together. That will provide you with awsome picks time after time after time. Just play with fake money for a while until you feel confortable. Good luck and I am sure you will become wealthy with them.
Noah
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AntNet
36 posts
msg #26437
- Ignore AntNet |
5/8/2003 3:16:39 AM
How about this one?
Don't know if adding filter +di(14) crossed over -di(14) within the last day would improve the results. I liked the basic filter but got to many picks. The modification forces a pick that had a recent upturn in MF.
Comments?
Bert
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howcar
3 posts
msg #26446
- Ignore howcar |
5/8/2003 5:22:00 PM
Noah
Thank you for sharing your filter with us.
You say to look at 10 previous days ago. With a simple filter, I would just change '1 DAY' to '10 DAYS'.
But your filter has 'MFI (15) has been increasing over the last 2 days'and I'm not sure how this would be treated. Therefore, how do I amend your filter to give results 10 days ago?
Also, do you run any other checks or tests before deciding to enter the picks results or are the solid enough without further checks?
Thanks in advance of your reply.
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Noahedwinbeach2
135 posts
msg #26449
- Ignore Noahedwinbeach2 |
5/8/2003 7:47:35 PM
No that is still correct. It will run the filter as if it were ran 10 days ago. So instead of it being today it now becomes 10 days ago so it will still produce the same type of results it would produce now. So within 2 days of the 10 days ago back it would search for those crossing over. So it would actually search as far back as 12 days ago. The only reason I suggested you look at 10 days ago is because you will see the sample results the filter produces. To answer the guys question above with the large filter, adding the di+ or whatever to that totally simplifies the results. It will shrink the results down to a much less amount so it will be more picky. The results are actually better and less picks so you are not left fishing through 50 stocks but about 1/5 of that.
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bka58
49 posts
msg #26454
- Ignore bka58 |
5/9/2003 10:19:32 AM
Newbie question for Noahedwinbeach2. How is a CHAIN different from using AND in the query. How do you go about setting up a CHAIN? Thanks.
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hylbert47
6 posts
msg #26455
- Ignore hylbert47 |
5/9/2003 10:22:45 AM
Noah,
Very impressive screen. What type of stop loss are you using? Backtesting on 1-10 day periods, looks like many go down quite a lot before they finish the 10 day period with a nice gain.
Thanks, Laura
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