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John Manasco:
Thanks for sharing your system with us. It is through unselfish people like you, that we can all become better traders.
Don Hughes
*********** REPLY SEPARATOR ***********
On 8/21/98, at 11:34 AM, John Manasco wrote:
>Steve Karnish
>
>Thanks for your post on how to gain 10%/month. Now I'm going to pick on
>you. I see many posts like this and read many articles in a similar
>vein. Your general comments are very good but most people on this list
>are looking for specifics. I think most people are in a constant
>learning mode and benefit from seeing what systems and indicators work
>for other people. Jim Greening lays his system out for everybody to
>learn from and criticize. Al Taglavore put out a recent system for all
>to see.
>
>O.K. I'll quit picking on you. You have had many good posts. I'd like to
>see a thread started where people lay out their systems and indicators.
>Lets discuss the merits of each in a positive way so that others and
>ourselves may learn from them. Maybe we'll all end up trading more
>profitably.
>
>So here's my system. I screen every day for stocks making new 250 day
>highs using the hhv function, C>hhv(C,250). I look for stocks whose
>closing price is greater than 5 and less than 100. I screen for stocks
>whose 50 day moving average of volume is greater than 50000 shares.
>Mov(V,50,S)>500. I look for stocks whose ADXR is greater than 30,
>ADXR(14)>30 and whose ADXR is rising, ADXR(14) > Ref(ADXR(14),-5). I
>also screen for stocks being accumulated using the Chaikin A/D
>Oscillator, CO() > 0 and CO()>Ref(CO(),-3). This give me a rising
>accumulation line.
>
>I also look at the daily advance/decline line, the McClellan oscillator
>and the summation index, the daily new highs/new lows, and the VIX. I
>pay attention to the S&P500 index as well as the NYSE and NASD and the
>T-Bond. When the A/D line and the McClellan oscillator and summation
>index are all pointing down as well as the trend of the S&P and NYSE I
>stand aside, even if my screens give me buy signals. I go with the
>trend.
>
>Selling is the hard part. I tend to stick with some stocks long after
>they should have been sold. I'm not comfortable with my exit strategy.
>It's too discretionary. I take profits when I have a 10% retracement or
>when a stock closes 8% below my purchase price. I don't always follow my
>rules.
>
>I'm in the process of creating and testing channel breakout systems and
>will switch if they prove themselves.
>
>So bring on the flames folks, what's your system like?
>
>John Manasco
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