Trading with Tony Oz Scanner - November 2001

Even high drawdown systems such as trendfollowing systems with high drawdowns and lower win rates (35-40%) have the optimal bet size at around 9% based on 'optimal f'.

From a risk-of-ruin perspective, if your swing trading produces a higher %win (> 50%) than losses, with risk-reward of at least 2-to-1, you can surely bet a lot more than 1/1000th risk per trade without a risk-of-ruin, even if you were conservative and calculated to risk to several standard deviations.

Also, with proper diversification and hedging (long swing one stock while short swing on another), your risk-of-ruin goes down even more.
 
I was looking around for cheaper solutions for those that want to run Scanners that rely on Realtick feeds. I have no affiliation and have no even used these guys, so no idea about reliability or anything, but it's an option if you wish:

http://www.ird.com

I think it's 50 bucks a month and I don't know if there are requirements to get that rate or not.

All the best,

Chris
 
Chris - i checked out ird.com briefly. The data feed is :

" iR Dynamics customers receive their market data from Fides Information Systems (a subsidiary of Credit Suisse Group), a Zurich based information provider to online traders, broker-dealers and financial institutions worldwide. This data include:

Streaming real-time data on stocks, futures, equities, options and foreign currencies from all the major exchanges.

TAL Data's independently generated indices (Gap Open, Percent Weekly Volume, Gainers, Losers, Most Actives, and 52-week Highs and Lows), which update automatically throughout the trading day. "

Did not see any other mention of real tick feeds.....

it is $50/month plus exchange (including charting) - feed only is cheaper.

coops
 
So depending on what the scanner needs to function given certain parameters, this might not work anyway..this is what you gather?
 
ChrisRT
Thanks for posting that link! I've been looking for something to replace my terranova acct when I switch to a pro firm, and this looks like good stuff for little $
someone else had told me about quickens realtime charts...but this ird stuff is almost identical to RT3.
So thaks again!
Peace:D
 
Welcome, but let us know if it's worth it or not...I'm still kind of a believer in "you get what you pay for" with some of these things and with no personal experience or need for it personally, would like to know if it is something to be able to relay to people or not if they continue to ask for cheap alternatives. Doesn't have to be today obviously <g> A few months of testing or so would be great.

Chris
 
you get what you pay for...I agree...they have a 7 day trial so I'll check it out and then report my findings

"Have a drink on me"AC/DC:D
 
Anyone take any trades today based on the Oz scans?

Read the book and have been following the scans for the last couple weeks, have seen some impressive results when combined with other ta (as suggested in the book).

My best results were off the nq gap scans although none have come up the last few days, and I traded the earlier ones as swings with intraday stops, so missed a lot of the 2nd and 3rd days move. Have not entered any of the skyscraper, but would if it was a bear flag type of rise to ma or price resistance.

My interest is on other peoples experience with entries, it often seems the stocks are pretty extended by the time I notice them, just curious as to some of your methods for keeping track and stalking for entries.

Eric
 
This thread just gonna die? Anyone using the Oz scanners intested in sharing your experience with them? :)

I am having success with the gapper scan (Q) over 5 or 15 min high for scalps and a couple times basing into the 13 ema and/or 20 sma on 15 min charts.

Also have gotten a couple swings from the powertrade. INVN was particularly good, although I was tracking it as a core swing type buy and don't know what time it actually came up on the scan(11/30). My main problem with the scans is with noticing when new stocks appear. Anyone figure out a good way to track this? Also, if the stock drops off the scan, it would seem the "reason behind the trade" is no longer valid (ie in most cases it seems the appearance on the scans is heavily weighted to above average volume) so then the question becomes, bail on trade, or stay with it with the original parameters (target and stop).

Anyway, just some issues I am dealing with in experimenting with the scanner.


Eric
 
@ericdh
I also thought that this thread would die ... great you posted on it ...

Problem is: everytime one wanted to discuss specific setups from these scanners ... great silence here ...

I mostly take Skyscrapers and Bottomfishers ... but I do not trade for that long, so my success is somewhat limited (glad, not to loose money) - I also traded INVN from the Newkid-Scan, I think ... about one week a go when it broke over about 15 ... thought it was an ATH then, because my charting-program did not have that much history available - now I see that the ATH was broken just this week ... but I didn't notice it on Friday and didn't trade on Thursday.

Tony Oz did a chat on www.financialchat.com (transcript will be available at www.tonyoz.com/learn I think) - and he has quite impressive results. He did post his P&L, Intradaycharts with Entry- and exitpoints for this day (Wednesday last week) - and I wondered, if the trade selection from the scanners (daily charts) or the intraday handling was more important - he had one big and one smaller winner and one very small loser. I have great problems with selecting plays from the scanners. Then I do not want to chase stocks ... but Tony took some plays right of the opening (I think about 9:40), when the stock did go up straight and was very successful. Furthermore I thought of some correction of the Nasdaq on Wednesday and lost some money in the morning and just got it back in the afternoon ... then took something overnight, which closed at the bottom and hoping for some followthrough the next day but the recovery was very abrupt then.

So you can see I'm very much in developing a strategy to use these scanners ... and if you want to share some plays after each trading days (although I never took plays from the gapper scan) it would be great.

Have a nice Sunday,
Harry
 
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