TomW1or anyone else who took a short home
yesterday on the SPX based on the 60 Stochastics, please see my
quick video here, I just made another one this morning
Basically there is no set rule for how much of a pullback you
will get, sometimes it's pretty good lasting a whole day or a
couple days, sometimes it's very minor lasting 30 min, sometimes
it's 1/2 the day. I generally take some off right away.
If the market is selling off good then I will try to stay in
the trade until one of my triggers hits i.e. maybe use a positive
MACD cross to exit, or Stochastic, or ADX indicator.
Here's a bunch of examples of where 60 Stochastic stayed above
80% all day or below 20% for the whole day, I went back a year on
the S&P 500
I show 5 instances where 60 Stochastic was above 80% for the
entire day, and 2 examples where it was below 20% all day.
Include the next day so that you can see what happened.
Posted by mdschapiro on 18th of Apr 2012 at 04:27 pm
Good job. It looks like a winner system already, of the 7, 5 are
gaps between 4 and 15 points and the other 2 trended around 10
points on the first move. Now it would be nice to find a common
denominator for exit. Thanks.
Posted by mdschapiro on 18th of Apr 2012 at 10:03 am
It may be helpful to do some statistics about what kind of pull
back we get after the signal. I played with options, $2.02 buy
$2.56 sell as SPY got to the pivot a few minutes after the opening.
Thanks.
mdschapiro- yep,
in fact I already wrote up some rules and made some chart examples
to show my programmer so that he can write me a strategy so that I
can test this and see what the stats are (just like I've been
showing for the RSI 2 systems) i.e. does it work out 90% of
the time, 80%, how often, etc. I'll be able to test this
going back years if I want to basically once I have the code.
for the last few years, it's been an observation, but I don't
have hard stats until I test it, will be intersting to see how they
look.
I'll provide the code to folks here who have Tradestation as
well.
for example, does it work out 90% of the time, 80%, how often,
etc. I'll be able to test this going back years if I want to
basically once I have the code. for the last few years, it's
been an observation, but I don't have hard stats until I test it,
will be intersting to see how they look.
I'll provide the code to folks here who have Tradestation as
well.
5 min SPX 60 Stochastic update - TomW1 see my video
Posted by matt on 18th of Apr 2012 at 09:40 am
TomW1or anyone else who took a short home yesterday on the SPX based on the 60 Stochastics, please see my quick video here, I just made another one this morning
http://breakpointtrades.com/jing/2012-04-18_0838.swf
Basically there is no set rule for how much of a pullback you will get, sometimes it's pretty good lasting a whole day or a couple days, sometimes it's very minor lasting 30 min, sometimes it's 1/2 the day. I generally take some off right away. If the market is selling off good then I will try to stay in the trade until one of my triggers hits i.e. maybe use a positive MACD cross to exit, or Stochastic, or ADX indicator.
Here's a bunch of examples
Posted by matt on 18th of Apr 2012 at 04:03 pm
Here's a bunch of examples of where 60 Stochastic stayed above 80% all day or below 20% for the whole day, I went back a year on the S&P 500
I show 5 instances where 60 Stochastic was above 80% for the entire day, and 2 examples where it was below 20% all day. Include the next day so that you can see what happened.
sometimes you got 10 -
Posted by matt on 18th of Apr 2012 at 04:07 pm
sometimes you got 10 - 20 SPX point moves the next day in your favor, the minimum was 7 - 8 points. Again not bad for a one day trade.
again I'd like to run some stats on that going back years
Good job. It looks like
Posted by mdschapiro on 18th of Apr 2012 at 04:27 pm
Good job. It looks like a winner system already, of the 7, 5 are gaps between 4 and 15 points and the other 2 trended around 10 points on the first move. Now it would be nice to find a common denominator for exit. Thanks.
the only problem is that
Posted by matt on 18th of Apr 2012 at 04:28 pm
the only problem is that it doesn't happen too often, maybe 10 - 15 times a year, so use it as a tool when it happens
Lets not get greedy, 10
Posted by mdschapiro on 18th of Apr 2012 at 04:30 pm
Lets not get greedy, 10 to 15 winners a year on one stock is just marvelous, specially when so far we got no losers.
Nice video, thank you Matt,
Posted by CEDRIC on 18th of Apr 2012 at 11:46 am
Nice video, thank you Matt, greatly appreciated !
Thanks Matt!
Posted by tomW1 on 18th of Apr 2012 at 10:02 am
here's a graphic of what
Posted by matt on 18th of Apr 2012 at 09:51 am
here's a graphic of what I discussed in the video, some triggers I look for
hope this helps
It may be helpful to
Posted by mdschapiro on 18th of Apr 2012 at 10:03 am
It may be helpful to do some statistics about what kind of pull back we get after the signal. I played with options, $2.02 buy $2.56 sell as SPY got to the pivot a few minutes after the opening. Thanks.
mdschapiro- yep, in fact I already
Posted by matt on 18th of Apr 2012 at 10:05 am
mdschapiro- yep, in fact I already wrote up some rules and made some chart examples to show my programmer so that he can write me a strategy so that I can test this and see what the stats are (just like I've been showing for the RSI 2 systems) i.e. does it work out 90% of the time, 80%, how often, etc. I'll be able to test this going back years if I want to basically once I have the code. for the last few years, it's been an observation, but I don't have hard stats until I test it, will be intersting to see how they look.
I'll provide the code to folks here who have Tradestation as well.
for example, does it work
Posted by matt on 18th of Apr 2012 at 10:08 am
for example, does it work out 90% of the time, 80%, how often, etc. I'll be able to test this going back years if I want to basically once I have the code. for the last few years, it's been an observation, but I don't have hard stats until I test it, will be intersting to see how they look.
I'll provide the code to folks here who have Tradestation as well.
great, this can become a
Posted by mdschapiro on 18th of Apr 2012 at 10:07 am
great, this can become a good milking cow
LOL, we all need some
Posted by steveo on 18th of Apr 2012 at 03:43 pm
LOL, we all need some daily milk