Trading Dummies

[Ajax2004]

Yes, I was looking at the filter they posted on their blog that they suggest to use for finding dummies:

http://marketmovers.blogspot.com/2005/11/strategy-session-dummies.html

Quote from Pete3212:

I think that was just an explanation on how to make trade-ideas work with a pre-defined list of stocks.

 

[Pete3212]

Ok, cool... hopefully we can see how it does.

 

[HorsesToTrading]

Quote from HorsesToTrading:

Watching ADS VIP BDK CRM MCK NWEC WPTE
In TM since broke bar

Solid day...Allocated .3% of my account to risk.



Lost .8R on TM
Effect on account: -.24%

Nice trade on BDK, got in on the False Break of the inside bar but held on..made 2R
Effect on account+.6%

MCK ideal dummy setup...risked .06, closed up .27 (4R)
Effect on account +1.2%

Total ROI=1.56%

 

[Pete3212]

Nice work HTT!

All of my trades pretty much went sideways, so I ended up scratching all except for AKAM which gave me a little over 2R.

Nothing great, but better than losing money.

Have a good weekend.

 

[Babak]

Its safe to say that pretty much any sort of filter for 'unusual' activity would have picked up MRK today.

 

[HorsesToTrading]

Good day of trading.
CMED=.58R, 1.12Return
MRK=.13R, .20 Return
CESV=.10R, .12 Return
ENR=.23R, .40 Return
PRGX=.03R, .07Return


Losses
ALVR=.03R, .02LOSS
NYNY=.05R, .06LOSS (slippage)

Good day overall, did a lot of shares, but was up nicely.

Good luck

 

[Babak]

An idea I've been toying with is to add a sort of filter to the 'dummy' criteria. Without making it too complex, that is. Something like taking signals from NR and/or inside candles. The advantage of this sort of filter is that it ensures that you have a tight stop loss. The disadvantage is that that may not be an advantage

I mean, you could get whipsawed or miss out on otherwise profitable entries (signals from wide range or outside bars). I haven't changed my take on things yet, but I'm starting to look at the charts with a 'what-if' now. Anyway, just some thoughts.

 

[HorsesToTrading]

Quote from Babak:

An idea I've been toying with is to add a sort of filter to the 'dummy' criteria. Without making it too complex, that is. Something like taking signals from NR and/or inside candles. The advantage of this sort of filter is that it ensures that you have a tight stop loss. The disadvantage is that that may not be an advantage

I mean, you could get whipsawed or miss out on otherwise profitable entries (signals from wide range or outside bars). I haven't changed my take on things yet, but I'm starting to look at the charts with a 'what-if' now. Anyway, just some thoughts.

Yes, having a tight inside bar can be tough to find, but I do find it very effective. I have been doing well finding stocks by looking at the gap up/gap down lists and intraday watching the % ups/downs.

Good luck, would be interesting to see how everyone else is doing--Babak are you trading this daily?

 

[Pete3212]

I've been doing well... I've been a little busy to be able to post any charts etc., but yesterday I grabbed a 4R+ on CMED. So far so good.

 

[ilganzo]

Here's a failed setup: COGN this morning broke down of its NR, then backed up for a stop loss just to break down again to new lows.

Looking at the chart later I realized this stock regularly makes reversal on 15 minute periods...