ccdanson
9 posts
msg #28908
- Ignore ccdanson |
9/26/2003 4:34:09 PM
It seems to me that any filter that returns any stocks that have any movement can be said to have profit potential if you trade it correctly, but then whats the filter for?
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EWZuber
1,373 posts
msg #28909
- Ignore EWZuber |
9/26/2003 6:28:50 PM
jthehut
Sorry, thought you were being facetious.
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EWZuber
1,373 posts
msg #28910
- Ignore EWZuber |
9/26/2003 6:32:54 PM
alf44
I usually post as 65degn on TECHA & SSFT, sometimes on NVDA & DCGN. Once in a while on GNSS and lately TELM.
Cut down on it a lot lately.
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jthehut
124 posts
msg #28911
- Ignore jthehut |
9/26/2003 6:37:08 PM
Me?!?!? The j-the-hut facetious?!?!? NEVER!!!
Just kidding....I'm almost ALWAYS facetious...or at least sarcastic!!!
But seriously EWZuber, what are you doing in current market conditions?
thx,
M
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EWZuber
1,373 posts
msg #28914
- Ignore EWZuber |
9/26/2003 10:57:39 PM
jthehut
NASDAQ formed a 10 day head and shoulders pattern on the hourly chart starting on the 16th. The neckline was violated and the pattern confirmed bearish during the 12:30 hour on 9/24 @ 1,863.
The 1:30 hour came up and tested the neckline as resistance and confirmed it, offering the opportunity to short the QQQs.
With a lower cycle high of 1,904 at 9:30 on 9/24 and a lower low as the neckline was broken, also confirmed a new downtrend on the hourly chart.
I wasn't allowed to trade until today because of NASD 2520. NASD & SEC have determined that I don't understand the risk associated with daytrading.
How did they determine this?
They have determined that only people that have more than $25K in their account understand this risk and so they have taken it upon themselves to save me from my self.
Consequently I was prevented from going short when the time was right. So today i just stayed out of the market.
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EWZuber
1,373 posts
msg #28927
- Ignore EWZuber |
9/28/2003 12:32:44 PM
ccdanson
Filters are for narrowing the field. Out of some 5,000 NASDAQ stocks and I don't know how many NYSE stocks, filters can find stocks that are exhibiting certain characteristics that you are looking for.
This doesn't mean that each return will be tradable.
One thing I look for in a long trade is a company with good fundamental growth.
In a short trade I look for poor fundamentals, companies that are losing money, and preferably projected to get worse. You can't screen for that on SF.
Also the parameters that you are screening for need to be confirmed by examining the charts by hand.
SF is not perfect and it's not uncommon to get returns that actually should not have been returned by your screen.
Another very important factor is the intraday chart indicators.
Is the stock overbought or oversold on the hourly chart?
Is it above or below the 15 HR.MA?
Hows the volume pattern on the hourly chart, etc.
It is usually here on the hourly chart where I make the decision to trade or not, then move to the 5 min. chart for exact timing of the entry.
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TheRumpledOne
6,411 posts
msg #28929
- Ignore TheRumpledOne |
9/28/2003 1:13:59 PM
Very well put EWZuber.
Once again, filters are the START not the END of a trade.
For scalping, I use the 3 min chart for entry. Enter on GREEN CANDLE after the stock bottoms (RSI bottom, Bollinger Band bottom, Linear Regression bottom, etc.)
EXIT on any RED CANDLE above the Bollinger Band or 2 RED CANDLES in a row on the 1 Minute, or if the stock price stalls, and/or peaks on RSI, BB or LR.
MAY ALL YOUR FILLS BE COMPLETE.
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rrochon
117 posts
msg #28945
- Ignore rrochon |
9/29/2003 3:24:21 PM
Avery,
When scalping you use the 3 minute candles. On Prophet.net they are delayed. Are the charts real time if one subscribes?
Do you subscribe to Prophet.net, or what charting service do you use for real time, 3 minute candles?
Thanks,
Dick
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TheRumpledOne
6,411 posts
msg #28955
- Ignore TheRumpledOne |
9/30/2003 11:32:00 AM
I have QuoteTracker fed by Ameritrade and ESignal that I use for all my live, real-time charts.
If you subscribe to Prophet.net then you can have their real time charting.
MAY ALL YOUR FILLS BE COMPLETE.
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TheRumpledOne
6,411 posts
msg #34816
- Ignore TheRumpledOne |
1/8/2005 11:55:36 PM
I have added TradeStation to my tools.
RADARSCREEN is unreal for intraday scalping.
The Automated Trading feature is the ultimate.
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