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I *expect* to code it this weekend to play around with. It should be
fairly simple. Someone may get to it sooner, but if not, I will post
it as soon as I have finished it.
Meanwhile, I had no idea tm articles were available free on Yahoo
finance. Here's the link to the full article:
http://biz.yahoo.com/tm/031215/11047_4.html
and the other in the pair:
http://biz.yahoo.com/tm/031208/11017_4.html
- Gordon
--- In amibroker@xxxxxxxxxxxxxxx, "rmortonmd" <mortonr003@xxxx> wrote:
> Excellent article. Now to show my ignorance of programming. I can
> eyeball the charts and see the lowest value for the past 10 days,
> how do you go about writing this in amibroker? Also, are you
> defining today as time 0 and going back 10 days from here? What if
> yesterday's value was the lowest of the 10 days, would that still
be
> a buy even though there is a good chance that the stock is still
may
> be on a downtrend? In this instance, would you continue to watch
> this particular stock drop and wait for it to break the trendline
> and then use this particular rule of buying at the 10 day low and
> selling when it crosses the 10-ma?
> Thanks for the help,
> ron
>
> --- In amibroker@xxxxxxxxxxxxxxx, "Gordon" <amibroker@xxxx> wrote:
> > I subscribe to TradingMarkets.com. I imagine many others do as
> well.
> > I'm not a big proponent of reading the work of market
> commentators.
> > This site, IMHO, however, is run by true pros. There was a recent
> > article that really, really caught my attention. Since I've been
> > working on pivots and swings, it hit home. I'm pasting a quote
> from
> > it that I think you will be glad you read. This is from an
article
> by
> > founder Larry Connors this past Sat., beginning and ending inside
> the
> > double quotes:
> >
> > "A Brief Review Of Last Week's Findings
> >
> > We now know that had we bought new 10 day highs in the S&P's and
> > exited when prices crossed below their 10-day ma, we would have
> lost
> > money in the bull market of the past decade. We also know that
had
> we
> > acted counter-intuitively and sold when everyone else was buying
> at
> > these times, we would have made good money. And most importantly,
> as
> > the world was throwing in the towel and grumbling about how bad
> > things were and how "the internals" were deteriorating, if we had
> > been buying during these times (at 10 day new lows) and had sold
> when
> > prices rose above 10-day ma, we would have far outperformed buy
> and
> > hold plus we would have been in the market less than 40% of the
> time.
> > A nice combination. Wow, buying low and selling high...what
genius!
> >
> > Now Let's Move To Other Markets
> >
> > Let's now go further. Let's look at some other indices. First the
> > Nasdaq. The market that had one of the greatest runs in US
history
> in
> > the late 90's and then one of the greatest collapses. I'm going
to
> > first show you the annual results for the past 11 years. The
> column
> > on the top shows us the number of Nasdaq points that were made by
> > buying a new 10-day low (buying the pullback) and exiting when
> prices
> > crossed above the 10-day moving average.
> >
> > Buy The 10-Day Low -- Exit When Prices Close Above The 10-Day
> Moving
> > Average
> >
> > Period Net Profit % Profitable
> > 03 344.08 91.67%
> > 02 90.30 62.50%
> > 01 218.42 58.33%
> > 00 1,426.24 68.75%
> > 99 460.21 77.78%
> > 98 8.13 50.00%
> > 97 71.46 58.33%
> > 96 93.22 76.92%
> > 95 140.55 100.00%
> > 94 33.25 84.62%
> > 93 54.99 92.31%
> >
> > Total Nasdaq points gained: 2940.85. Percentage of Trades
> Profitable:
> > 75.1% (does not include slippage and commission). And, you
> > accomplished all this by being in the market less than 32% of the
> > days during this period. Yes, that's right, 68% of the time your
> > money was not at risk. It was in cash.
> >
> > The column on the bottom shows what happened if you only traded
> the
> > breakouts -- you plowed in when everyone else was buying and
> jumping
> > up and down about how great things were. You bought the 10-day
> highs
> > and exited when the market crossed under its 10-day moving
average.
> >
> > Doing The Opposite -- Buy The Breakouts -- 10 Day New Highs, Exit
> is
> > When Prices Close Under The 10-Day Moving Average:
> >
> > Period Net Profit % Profitable
> > 03 (24.47) 40.00%
> > 02 (159.18) 20.00%
> > 01 (368.75) 36.36%
> > 00 (1,390.77) 30.77%
> > 99 547.27 31.25%
> > 98 530.76 46.15%
> > 97 43.83 33.33%
> > 96 52.45 43.75%
> > 95 3.70 35.71%
> > 94 (38.47) 11.76%
> > 93 (36.42) 28.57%
> >
> > Total Nasdaq points LOST: -840.05. Percentage of Trades
> Profitable:
> > 33.5% (does not include slippage and commission).
> > "
> >
> > Enjoy.
> >
> > Gordon
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