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DIY Trader
- Joined
- 3 February 2010
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I routinely run a special scan across the entire ASX, trying to pick up just this kind of stocks that look like having found a bottom and about to reverse back up.
As I can't trade everything, there are times when many really promising results of these market analysis runs "go to waste". So, here is the deal:
I'll post the results in bulk in this thread; if time permits, i may add a chart or two with my interpretation and ideas of what I might or might not do. If members want to add their own ideas, the more, the merrier. Stock-specific discussion may be best transferred to the individual stock's thread: Search for the code and open the pertinent topic. In here, I am happy to explain the selection criteria, which some members may know already by the name of "Trinity". I maintain a website, where the basics are explained, in case someone is really eager, visit my website http://rettmer.com.au/ and use the left-most green entrance. Here is the essence in a nutshell:
In my market analysis, I look for stocks that have fallen a fair bit, giving me some reasonable targets to aim for. Momentum must be turning up on average volume or better. And the price must definitely have left the "Volatility Envelope" on the upside. The V.E. is a band either side of the price at a distance that is determined by the rate of risk I intend to accept. In my routine run, I accept a move of 1.5 average days' volatility going against me.
These are simply the parameters that I'm looking for. The algorithms and scripts are my IP.
On charts, I use the same algorithm to draw a "Volatility Envelope", accentuated by several markers. The important ones are two kinds of arrows on or near the daily candles; these suggest Buy and Sell levels, usually when a candle leaves the relevant extreme of the Volatility Envelope. Orange "Ft" markets at the top show the origin of a new Primary Resistance, marked as a horizontal orange line at the resistance price level. And then there is a green triangle which will show below the candle on a day where Trinity believes a turn of trend might be in progress.
tonight, I only start with a snapshot of today's four results. I have, however, posted a couple of charts in their respective threads. I'll also post a chart of one of yesterday's results, AFI, where it belongs.
As I can't trade everything, there are times when many really promising results of these market analysis runs "go to waste". So, here is the deal:
I'll post the results in bulk in this thread; if time permits, i may add a chart or two with my interpretation and ideas of what I might or might not do. If members want to add their own ideas, the more, the merrier. Stock-specific discussion may be best transferred to the individual stock's thread: Search for the code and open the pertinent topic. In here, I am happy to explain the selection criteria, which some members may know already by the name of "Trinity". I maintain a website, where the basics are explained, in case someone is really eager, visit my website http://rettmer.com.au/ and use the left-most green entrance. Here is the essence in a nutshell:
In my market analysis, I look for stocks that have fallen a fair bit, giving me some reasonable targets to aim for. Momentum must be turning up on average volume or better. And the price must definitely have left the "Volatility Envelope" on the upside. The V.E. is a band either side of the price at a distance that is determined by the rate of risk I intend to accept. In my routine run, I accept a move of 1.5 average days' volatility going against me.
These are simply the parameters that I'm looking for. The algorithms and scripts are my IP.
On charts, I use the same algorithm to draw a "Volatility Envelope", accentuated by several markers. The important ones are two kinds of arrows on or near the daily candles; these suggest Buy and Sell levels, usually when a candle leaves the relevant extreme of the Volatility Envelope. Orange "Ft" markets at the top show the origin of a new Primary Resistance, marked as a horizontal orange line at the resistance price level. And then there is a green triangle which will show below the candle on a day where Trinity believes a turn of trend might be in progress.
tonight, I only start with a snapshot of today's four results. I have, however, posted a couple of charts in their respective threads. I'll also post a chart of one of yesterday's results, AFI, where it belongs.