RSI Study

I use to use a tool called sort wizard. One of the "tricks" I used was to scan for average trade volume over 5000 shares per trade. I would let this sort run first thing in the morning. The idea was to catch institutional buying first thing off the bat. The best situation would be that I would catch several stocks in the same sector coming up on the scan. I would then look at the sector. If 90 percent or the stocks were being bought then it indicated a "sector play" to me. I would buy the highest priced stock and hold for the first hour and sell.

The point is that if you are reasonably assured that money flow is behind the stock you can buy it with little risk.

John
 
I used to do something like that. My old rules were stocks that had been down for at least three days in a row. The last day it was on the loser list with more then average volume. The stock had to open up with a huge print to let me know the specialist had a position. Then I would wait for the bid to step up to or above the opening print. When that happened I would buy at the market, usually I got filled and the stock would be spread up and I offered into the spread. 20 minutes and I was done trading for the day. But for the last year I don't see this anymore. when I was doing this I would go for months without a down day. Now I trade 2 days a month and only when the volume is heavy at the open. Are you finding stocks that trade now or is it dead for you?
 
Hey Trader555, how successful is your above stated system.

Mine has done well in high implied volatiilty market, but lately it hasnt done much.

---Fish
 
Hey Trader555, how successful is your above stated system.

Mine has done well in high implied volatiilty market, but lately it hasnt done much.

____________________________________________________
My system always works but the trades are once ever few days. There is not much to do. It relies on the market trading over 1.3 billion shares a day on average.
 
You must log in or register to reply here.
Back
Top