| gsherrmann |
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Gold User, Member, TeleChart
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| Registered User |
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| Unsure |
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| Monday, November 28, 2005 |
| Monday, April 3, 2006 12:21:14 PM |
15
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Better...there are still a few that visually don't make sense...but it is much better.
THX
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I am trying to write a PCF that finds stocks that have a TSV20 that is within 5% of the 150 day max and a MS that is also within 5% of the 150 day max. I wrote the following PCF:
TSV20 > .95 * MAX(TSV20,150) AND MS1 > .95 * MAX(MS,150)
However, when I go to test these, I am not sure the values are right, because the numbers on the test symbol chart, particularly for the MS does not approximate the graphical values shown on the indicator scale.
Does this formula appear to be correct? If so, why do the values on the chart (I put MS in the bottom window and TSV in the middle window) not match what they look like they should be?
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I have always stayed away from after hours trading, since it is not like the regular market. Since I have an 8:00 - 5:00 job, the only time I can do anything while the market is open is during lunch, in which case I don't have my Telechart with me. Obviously, I am not a day trader. I hold stocks about 30 days on the average, so perhaps it is not even worth wasting time thinking about it.
Does anyone out there have experience in extended hours trading and care to comment if this is to be avoided or is it useful provided you buy with limit orders?
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QUOTE (HaveNoCents) just the low side on a long, and the high side on a short.
OK - I thought maybe I misunderstood you.
Another related question. I mostly buy stocks that have seen a recent increase in volume and price. I'm too impatient to buy a stock that "should" be going up sometime soon. However, I often sell way too early (but better early than late). I have been playing with the 2% regression channel and it seems to provide a better method than what I am doing now. (But I only follow my own rules about 85% of the time anyway)
However, if you buy a stock that has jumped, it is more than likely already outside of the channel. Do you limit yourself on a given percentage above the channel that you will buy at so that even if it drops to near (but not below) the bottom of the channel you are not out too much? For instance, if a stock is 4% above the top of the channel, it would be about 8% above the bottom of the channel. If you normally would not want to lose more than 8%, then you would find youself not buying any stocks at over 4% above the channel.
Do you have a set value above the channel that you will not buy a stock, or do you just take whatever losses the channel may give you at the bottom if things don't go as planned?
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[quote=HaveNoCents] If it breaks out of the channel, I am out of the stock.
If it breaks the channel to the high side...or just the low side?
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Thanks NoCents, I always include the 50MA in my charts, but I have not done a regression on it. I'll try that over the weekend. Unfortunately I'm out of town the next two days without a laptop. Please hold off the correction until at least Monday. One more question. Under what conditions would you traders choose a PUT vs. shorting the stock, and visa versa.
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I like your theory on JCP coming down with the other stocks in the industry. I'm rootin' for you but I'm not going to bet with you, well, not unless I find time to dig into it and convince myself of the odds. I'll probably just watch from the sidelines. I am however looking for stocks to short (or place puts) because I am 90% cash right now and frankly, I agree that there is more likelihood of down than up (and I'm usually bullish to a fault).
I liked your previous post about finding stocks that have tried unsuccessfully to break up through their 50MA a few times, but haven't really found any that were what I was looking for. Any ideas for others that may fit this trading pattern? Maybe I'll just have to write a complicated pcf to find some (which is tough as a beginner).
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