Posted by sbaxman111 on 28th of Feb 2013 at 01:20 pm
Thanks for the kind words Doug:
As of yet I haven't used the Tradestation platforms. Most
of my trading uses the Rydex dynamic index funds (DOW, SPX, RUT,
ADRE) that have an am as well as a pm trading option. But with the
excellent GDX and XLE information from BPT, I also now trade etf's
in my brokerage account.
Today the RSI-2 for GLD/GDX is 21.53/16.86% as I write this and
GDX is below its 200 day line. So the contrarian "reversion to the
trend" short GDX trade taken at the close on the 26th is still
valid. I am still short GDX.
Today is the 3rd consecutive day in a high to low RSI-2 pattern.
If this trade gets to 5 consecutive days lower I would also think
of taking profits and exiting - simply because patterns
historically last 2-5 consecutive days in the vast majority of
cases. Of course there are alwasy exceptions - the longest that a
consecutive day pattern has lasted in my Index data is 13 days.
My target here is a new RSI-2 Long signal below an end of
day 3% RSI-2 level or a 2.5% stop loss from the lowest GDX
value that is achieved during the trade. I think of this as a
"dynamic" stop loss....one that occurs off of the lowest or highest
point within a trade, and NOT the original entry point. Also, if
there are 3 consecutive days below RSI-2 10% without reaching an
end of day value below 3%, that is a one day Long trade that,
statistically, has a very high success ratio in my own data.
GDX is also nearing its previous and recent 37.39 intra-day
low so it is reasonable to be aware of that as support as well.
Best wishes.
smoothy- just an
FYI about 35 BPT members here personally have my Tradestation
Systems installed on their computers following them in real time.
I will be doing a webinar in the future where I will go over the
systems in detail, trades they take and some of the trade logic
that I implemented in the systems, this should answer everyone's
questions about them
However I am trying to decide on a time frame to do the webinar
- some ideas are 4:30 or 5:00 EST, or maybe wait until 7 pm EST in
order to give folks a chance to get home from work, or Saturday
morning or Sunday afternoon.
here's a poll that I put together where you and others can vote
from
These systems could be very helpful to have and I'm just
weighing the possibility of opening a Tradestation account. I'll
look forward to the webinar but would also like to hear from any
members with opinions about the platforms, how they use them, and
Tradestation as a broker.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
Nice work sbaxman...question: do you
GDX RSI-2
Posted by smoothy on 27th of Feb 2013 at 12:05 pm
Nice work sbaxman...question: do you also use Matts Tradestation platforms?
Thx, Doug
Thanks for the kind words
Posted by sbaxman111 on 28th of Feb 2013 at 01:20 pm
Thanks for the kind words Doug:
As of yet I haven't used the Tradestation platforms. Most of my trading uses the Rydex dynamic index funds (DOW, SPX, RUT, ADRE) that have an am as well as a pm trading option. But with the excellent GDX and XLE information from BPT, I also now trade etf's in my brokerage account.
Today the RSI-2 for GLD/GDX is 21.53/16.86% as I write this and GDX is below its 200 day line. So the contrarian "reversion to the trend" short GDX trade taken at the close on the 26th is still valid. I am still short GDX.
Today is the 3rd consecutive day in a high to low RSI-2 pattern. If this trade gets to 5 consecutive days lower I would also think of taking profits and exiting - simply because patterns historically last 2-5 consecutive days in the vast majority of cases. Of course there are alwasy exceptions - the longest that a consecutive day pattern has lasted in my Index data is 13 days.
My target here is a new RSI-2 Long signal below an end of day 3% RSI-2 level or a 2.5% stop loss from the lowest GDX value that is achieved during the trade. I think of this as a "dynamic" stop loss....one that occurs off of the lowest or highest point within a trade, and NOT the original entry point. Also, if there are 3 consecutive days below RSI-2 10% without reaching an end of day value below 3%, that is a one day Long trade that, statistically, has a very high success ratio in my own data.
GDX is also nearing its previous and recent 37.39 intra-day low so it is reasonable to be aware of that as support as well. Best wishes.
Bruce
smoothy- just an FYI about 35
Posted by matt on 27th of Feb 2013 at 12:19 pm
smoothy- just an FYI about 35 BPT members here personally have my Tradestation Systems installed on their computers following them in real time.
I will be doing a webinar in the future where I will go over the systems in detail, trades they take and some of the trade logic that I implemented in the systems, this should answer everyone's questions about them
However I am trying to decide on a time frame to do the webinar - some ideas are 4:30 or 5:00 EST, or maybe wait until 7 pm EST in order to give folks a chance to get home from work, or Saturday morning or Sunday afternoon.
here's a poll that I put together where you and others can vote from
http://www.easypolls.net/poll.html?p=511b334ae4b0f40dd3ccb0ec
These systems could be very
Posted by smoothy on 27th of Feb 2013 at 12:29 pm
These systems could be very helpful to have and I'm just weighing the possibility of opening a Tradestation account. I'll look forward to the webinar but would also like to hear from any members with opinions about the platforms, how they use them, and Tradestation as a broker.