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Andrew,
My strategy/methodology is as follows:
1. Identify stocks to add to my database by weekly Telescan Prosearches.
I'm currently running four different searches that identify 25 stocks each.
I then eyeball the resulting charts to see if there are ones that I don't
have in my database that I want to add to the database. I'm looking for
stocks based on trend channel analysis, either a break out or bounce off a
channel wall. I also demand good fundamentals for long positions, poor
fundamentals for short positions. I usually add less than 10 weekly.
2. Prune my database periodically. I try to keep below 200 stocks in my
database. I'll delete potential long positions that have given sell
signals or that have run up too much. vice-versa for potential shorts.
3. When I place new stocks in my database, I use a default template that
plots the stock as a CandleVolume chart with 21, 55, and 233 day
exponential moving averages. Below the chart is a window with the volume
and an 8 and 55 day times series moving average of the volume. Above the
chart are three windows with the RSquared, tema(S/C), and tema(MFI)
indicators. The tema(S/C) is a tema smoothed indicator of the 34 day
LinRegSlope divided by the Close. The other is a tema smoothed 55 day MFI.
I'll change the indicators to reflect which system test performed best.
4. I run weekly Explorations to help determine which stocks to put on my
watch list. Again, I make final decisions based on eyeballing the chart
with trend channel analysis being the focus.
5. I look at charts of my open positions and watch lists daily. I also
look at several different indices and market indicators daily.
6. I'm usually fully invested. I always maintain targets and stops for
all my open positions. The stops are mental stops. If a stock close
violates my stop, I'll place a market order to close the position at the
open the next day.
7. I replace closed positions by stocks or options from my watch lists.
The new position will be short or long depending on if the indices at the
time are in up or down trends. I'll also go to large or small cap or
particular sectors depending on my indicators and what my current open
positions are. I always set my target and stop before entering a position.
That's a very quick, bare bones summary.
Jim
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> From: Andrew J. Kornberg <kornberg@xxxxxxxxxxxxxxxxxxxxxxxxxx>
> To: metastock-list@xxxxxxxxxxxxx
> Subject: Trading Education For Me
> Date: Thursday, September 18, 1997 9:40 AM
>
> Hi,
>
> I wonder whether the contributors to this list can step out their
routines
> in preparation for trades, and identifying possible stocks.
>
> I love the explorations put up, but actually want to go back a step.
>
> My steps are as follows:
> 1. I download the end of day data
> 2. I run the "Brady Exploration" on all the stocks.
> 3. I look at the hits.
> 4. Most of the time, there are few hits so I run an exploration where
there
> are higher highers, higher lows, and increased volumes.
> 5. I look at the charts, and make a short list
> 6. Trade.
>
> Is this what the majority do?
>
> If not, what do you do? What initial explorations do you use? What
other
> advice do you have for the wanna bees!!
>
> I'm just trying to learn different strategies, anything that can me trade
> better.
>
> Thanks.
>
> Andrew
>
>
> Andrew
> _______________________________________________________________________
> Phone: +61 3 9532 7714
> Fax: +61 3 9822 0955
> email: kornberg@xxxxxxxxxxxxxxxxxxxxxxxxxx
> _______________________________________________________________________
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