Way2Late
37 posts
msg #35670
- Ignore Way2Late |
4/20/2005 7:18:51 PM
Let’s take a look at the QQQQ’s for the last year. There have been 5 times in the last year the RSI(2) has been as low or lower than it was on Friday.
30 Apr 04 RSI(2) 1.96
Over the following 2 weeks the max gain was 2.14% The max loss was 2.09% If you closed out the position at the end of the 2 weeks you lost .71%
14 July 04 RSI(2) 2.00
Over the following 2 weeks the max gain was .93% The max loss was –4.59% If you closed out the position at the end of the 2 weeks you lost 2.66%
06 Aug 04 RSI(2) 1.43
Over the following 2 weeks the max gain was 4.05% the max loss was –1.4%. If you closed out the position at the end of the 2 weeks you gained 3.66%
04 Jan 05 RSI(2) 1.69
Over the following 2 weeks the max gain was .72% The max loss was –1.73. If you closed out the position at the end of the 2 weeks you lost 1.55%
15 Apr 05
Since Friday the max gain was 1.07% The max loss was -.4% Who knows what the next 7 days will hold.
I don’t know about anyone else, but these numbers don’t make me want to “load the boat” on the QQQQ’s based only on the RSI(2) indicator.
Oh, let me guess, now you’ll say Hey, it’s not what you trade it’s how you trade it, and in that case it’s not the filter now, is it?
|
knowsenough
54 posts
msg #35677
- Ignore knowsenough |
4/20/2005 11:01:55 PM
If it's used as it's intended...
It's a great tool for those who mostly daytrade as Rumps list of picks posted in an up market day like yesterday were all green and not one red. Pretty impressive for a big list regardless. Now today that same list is all red except (7) if one counts AH activity and (4) if not, so it's pretty safe to call it a daytraders tool and not a buy & hold filter as some are trying to beat it up on in error. If it were buy and hold even a couple days it would exhibit better returns on a down day or at least a lot of unchanged. Use it as it was intended. JMHO
|
corsino
259 posts
msg #35678
- Ignore corsino |
4/20/2005 11:35:38 PM
Well,I don't think that RSI(2)<1 by itself is heaven on earth. I have backtested several filters with RSI(2)in them,and the results vary depending on the other criteria in the filter. In fact,some RSI(2)filters have had mediocre results in backtesting.But on the whole, I haven't found any other single indicator superior to it. That doesn't mean that there isn't one. I just haven't found it yet.It would be interesting if somebody would find one. At the same time, not many bullish filters will work well when the whole market is going down.
|
TheRumpledOne
6,529 posts
msg #35679
- Ignore TheRumpledOne |
4/21/2005 1:56:13 AM
Marine2... I don't have any website or anything for sale. I told you that once before. What is the reason you persist in saying otherwise?
EMA(5) is a great addition to RSI(2)... After a stock hits RSI(2) < 1, you then wait for the price to cross above the EMA(5) then you can SAFELY LOAD THE BOAT.
Sometimes a stock hits RSI(2) < 1 only to go up and drop again usually exhibiting positive divergence... then when it clears the EMA(5), it is OFF TO THE RACES!!
Study the chart patterns of the stocks this filter returns.
Go ahead, backtest it and post the results.
MAY ALL YOUR FILLS BE COMPLETE.
|
TheRumpledOne
6,529 posts
msg #35685
- Ignore TheRumpledOne |
4/21/2005 9:19:20 AM
This gives you notice that they are on the way up!
/* FORMER RSI(2) < 1, CLOSE ABOVE OPEN AND CLOSE < EMA 5 */
set{R2a,days(rsi(2) is below 1,30)}
R2a above 0
close above open
close below ema(5)
volume above 100000
close above 1
close below 200
add column rsi(2)
add column R2a
add column ema(5)
draw ema(5)
|
TheRumpledOne
6,529 posts
msg #35686
- Ignore TheRumpledOne |
4/21/2005 9:21:35 AM
Whoops, forgot to preview..lol
MAY ALL YOUR FILLS BE COMPLETE
|
marine2
963 posts
msg #35712
- Ignore marine2 |
4/23/2005 1:53:16 PM
Thanks TheRumpledOne in bringing me up-to-date again on that no web site fact. Goodluck in all your trading! Thanks again, for helping the forum here, in your own unique way.
Trading is an art and not a hobby.
|
marine2
963 posts
msg #35770
- Ignore marine2 |
4/27/2005 1:15:23 AM
TheRumpledOne, yes, your RSI(2) tool does work because with the new backtest now in place I capture 86% success between a period of first of the year to now. Not bad huh.
|
judgetrade
107 posts
msg #35787
- Ignore judgetrade |
4/28/2005 4:29:34 PM
marine2,
that is impressive! Do you post your filter :-) (I get only 60%) within the last year.
|
marine2
963 posts
msg #35797
- Ignore marine2 |
4/29/2005 1:04:50 AM
judgetrade, Utilizing SF's new backtest tool I had an 86% win rating and only 14% loss rating on one of my RSI(2) filters. We all use different criteria for our individual filter creations so what I use for that one must be one of the best ones out there. I would like to know if someone can beat that one?
Remember the key is to use a good exit command. That is what creates the more successful filters.
|