|
PureBytes Links
Trading Reference Links
|
Hi, folks,
I'm new to investing, but not so new to Amibroker.
I've been using the software to learn to scan for swing trading stocks and
everytime I think about switching to something else I regret even the
thought. I've looked at Mr. Swing (Swingtracker) which is a java-based RT
system ($49 per month), but I have trouble getting reliable feed.
Recently I have sighed up for IQFeed (realtime) for use with Amibroker and
so far it's been very reliable. However, realtime doesn't seem to be my
style, except for checking the opening range of stocks I'm interested in. I
don't have time to sit all day and watch the ticks roll by.
So far I've only made three trades at Scottrade ( 2 profitable, 1 small
loss), with Scottrade making $14 in commissions per round trip. I'm
considering shifting my account to MB Trading, where you can trade up to 500
shares for .01 per share cost. Unfortunately they don't have a charting
system to allow dropping in on the realtime ticks. However, they do they pay
interest on unused funds, which Scottrade doesn't do.
Dave Landry suggests the following in his book on Swing Trading:
1. Pick your stock
2. Set a buy stop for the next day at .06 above today's high.
3. Set a stop loss or a trailing stop not exceeding 4% of the the
purchase.
4. Place the trade and wait to see if the order is filled.
5. When (if) you reach 7% profit, sell half the shares and let the rest
ride with the stop loss in place.
My problem: without real time quotes, this feels like standing on top of a
bridge in the night and throwing money into the darkness.
So my question is: Can anyone tell me a decent method for End of Day trading
without paying for RT charting data? Or how you get around flying blind when
you place the orders without watching the morning real time opening?
Would appreciate your input.
Thanks in advance.
Charles Bush.
_____
From: amibroker@xxxxxxxxxxxxxxx [mailto:amibroker@xxxxxxxxxxxxxxx] On Behalf
Of peterjldyke
Sent: Friday, January 05, 2007 5:52 PM
To: amibroker@xxxxxxxxxxxxxxx
Subject: [amibroker] Re: Code for price structure
You do not mention what timeframe you are using.
My suggestion is that you use a Simple Moving Average.
I use a Weekly time frame for my Long stock trading (I do not
Short). I Plot a MA(C,30) on my charts and visually check my
Watchlist that each weekly Close Price has been above the MA(C,30)
for at least 52 weeks. I use a Vertical line placed 52 weeks ago to
give me the starting point that the MA(C,30) must be below. You will
quickly see how the price is trending. Plotting another MA using
Param to manually adjust the time period on each chart can also help
to identify strong trends.
I also use ROC(C,52) to show outperforming stocks.
I have the ASX Top 200 as my Watchlist and it only takes a few
minutes to scroll through nearly 200 charts. Plenty of candidates
for Long trading should appear. Volatility also allows short term,
even day trading opportunities.
Obviously, you can add more T/A whistles and bells if you find them
necessary. I think "less is best".
For the Australian market, Alan Hull has a number of publications on
trend trading using minimal chart interpretation.
Peter
--- In amibroker@xxxxxxxxx <mailto:amibroker%40yahoogroups.com> ps.com,
Bruce Hawkins <hawkinsk001@xxx>
wrote:
>
> Does anybody have any code that recognizes trending price
structure?
>
> The first question that comes to my mind is what is trending price
> structure? I am hoping someone has tried to put that in code.
>
> Maybe "x" number of bars making HH's or LL's with no bar closing
> below/above the L/H of previous bar.
>
> What about slope of price or MA comparing previous values to
> current with no current value below previous value in an uptrend.
>
> Any thoughts would be appreciated.
>
> Cheers,
>
> Bruce
>
Content-Description: "AVG certification"
No virus found in this incoming message.
Checked by AVG Free Edition.
Version: 7.5.432 / Virus Database: 268.16.6/617 - Release Date: 1/5/2007 11:11 AM
|