LIVE intra day trading with Grey1 ( second leg)

[Charlton]

Hi Everyone,

When Iraj gave this seminar I missed some of what he was talking about in the early session. When using Finviz he gave a list of settings that are to be applied each day for strong stocks. What I missed is what the settings are for weak stocks.

Could someone give an overview of what these settings are ?

Also what settings are used, if any, for day-trading ?

Thanks


Paul

Paul

They are shown in Belflans post

http://www.trade2win.com/boards/443799-post110.html



Charlton

 

[Blu-Ray]

Hi Everyone,

When Iraj gave this seminar I missed some of what he was talking about in the early session. When using Finviz he gave a list of settings that are to be applied each day for strong stocks. What I missed is what the settings are for weak stocks.

Could someone give an overview of what these settings are ?

Also what settings are used, if any, for day-trading ?

Thanks


Paul

Paul

Here's a screenshort of the setting you need to find the weak stocks, the idea was to do this every night and build up a list to work from, then using the Iraj MACCI-Daily indicator, enter when MACCI Trend Down and Sell signal appears.

I may be wrong but I don't believe this was intended for day trading purposes.

Hope this helps

Andy

 

[TheMoneyMachine]

Paul

Here's a screenshort of the setting you need to find the weak stocks, the idea was to do this every night and build up a list to work from, then using the Iraj MACCI-Daily indicator, enter when MACCI Trend Down and Sell signal appears.



I may be wrong but I don't believe this was intended for day trading purposes.

Hope this helps

Andy

Andy/Paul,

I think Iraj also said the daily & weekly MACCI should be overbought and turning down and vice versa for going long the strong portfolio? I am not sure if this is what MACCI-Daily is indicating for the daily time frame already?

Kind regards

TMM

 

[Trader333]

Thanks everyone, I can see how you would take some of these and then use the Iraj N Minute Change to select for day-trading . Is that how others are doing this ?


Paul

 

[TheMoneyMachine]

Thanks everyone, I can see how you would take some of these and then use the Iraj N Minute Change to select for day-trading . Is that how others are doing this ?


Paul

Hi Paul,

This is how i understand it but i may well be incorrect,

1. TA/FA swing trading strategy - Produce strong & weak portfolio based on FA criteria (as shown in posted images). Load portfolios into Radar Screen with Iraj's 'MACCI-Daily ' indicator. When the daily & weekly $INDU is overbought and turning down short the stocks in the weak portfolio that show 'Down' & 'SELL' in the 'MACCI-Daily' indicator and diversify across sectors. Exit the portfolio when daily or weekly $INDU MACCI is oversold. Reverse for strong portfolio.

2. Iraj N Minute Change day trading strategy - Produce list of stocks based on certain characteristics (Min $ Value, Min ATR etc etc) and use these with this strategy.

Kind regards

TMM

 

[Charlton]

Hi Paul,

This is how i understand it but i may well be incorrect,

1. TA/FA swing trading strategy - Produce strong & weak portfolio based on FA criteria (as shown in posted images). Load portfolios into Radar Screen with Iraj's 'MACCI-Daily ' indicator. When the daily & weekly $INDU is overbought and turning down short the stocks in the weak portfolio that show 'Down' & 'SELL' in the 'MACCI-Daily' indicator and diversify across sectors. Exit the portfolio when daily or weekly $INDU MACCI is oversold. Reverse for strong portfolio.

2. Iraj N Minute Change day trading strategy - Produce list of stocks based on certain characteristics (Min $ Value, Min ATR etc etc) and use these with this strategy.
Kind regards

TMM

TMM

I would concur with you on this. Iraj was presenting FINVIZ primarily as a tool to find suitable candidates for swing trading, rather than being fed a list of weak and strong stocks by him. It was also offered as a simpler solution than getting heavily involved in fundamental analysis using for example CAPM. The idea was to run FINVIZ daily for a period to build up strong/weak lists.

For daytrading he said that it was not necessary to keep changing the basket of stocks you are looking at. They needed an appropriate level of volatility, volume and price for intraday, but otherwise you could use pretty well the same 15-20, such as the ones he gave us on the two seminars.

Of course FINVIZ could be used for this purpose to change this basket from time to time. So Paul, I would say that the strategy presented at the earlier seminar was pretty much the same for intraday, except (to me) we seemed to look at more intraday timeframes than before

Charlton

 

[Trader333]

TMM & Charlton,

Thanks for replying. I am aware of the swing trading approach using Finviz and how to use it. My only issue was how to get an initial list of stocks for day-trading and this post clarifies it:

For daytrading he said that it was not necessary to keep changing the basket of stocks you are looking at. They needed an appropriate level of volatility, volume and price for intraday, but otherwise you could use pretty well the same 15-20, such as the ones he gave us on the two seminars.

That was the only problem I had and it has also got me wondering if Finviz could be used as a way of getting stocks for day-trading which I may well look into.

Thanks again for your help


Paul

 

[LuckyBucks]

From my notes on the june seminar I think Grey1 said day trading stocks should have an ATR from 70 cents to $5 and at least 2 million average daily voume. Can anyone confirm this.

The stocks below were used during the 13th june seminar for anyone who is wondering.

CAT
CCJ
LRCX
BHI
BRCM
BBY
RIMM
QCOM
ERTS
AMZN
AMGN
HRB
EBAY
CELG
JOYG
AAPL
NVDA
COST
SNDK
AKAM
KLAC
YHOO
CCRT

Luckybucks

TMM & Charlton,

Thanks for replying. I am aware of the swing trading approach using Finviz and how to use it. My only issue was how to get an initial list of stocks for day-trading and this post clarifies it:



That was the only problem I had and it has also got me wondering if Finviz could be used as a way of getting stocks for day-trading which I may well look into.

Thanks again for your help


Paul

 

[Trader333]

Could someone who uses eSignal, (because I don't), post a chart of 10 min INDU Macci as I would like to compare mine to it ?


Thanks


Paul

 

[wheezergeezer]

From my notes on the june seminar I think Grey1 said day trading stocks should have an ATR from 70 cents to $5 and at least 2 million average daily voume. Can anyone confirm this.

The stocks below were used during the 13th june seminar for anyone who is wondering.

CAT
CCJ
LRCX
BHI
BRCM
BBY
RIMM
QCOM
ERTS
AMZN
AMGN
HRB
EBAY
CELG
JOYG
AAPL
NVDA
COST
SNDK
AKAM
KLAC
YHOO
CCRT

Luckybucks

Lucky, I think it was something like 70c to $5 price movement ,
and the ATR + /-3, idealy above/below $INDU.......

 

[LuckyBucks]

wheezergeezer,

I was talking about what criteria to use to pick day trading/scalping stocks. The ATR you give below looks like the one used on the Iraj_N_Minute_Change to see which stocks are the most overbought or oversold against $INDU.

Luckybucks

Lucky, I think it was something like 70c to $5 price movement ,
and the ATR + /-3, idealy above/below $INDU.......

 

[TheMoneyMachine]

Grey1,

With reference to the FA/TA swing trading strategy you discussed at the beginning of your last live session would you agree a long signal has now been confirmed due to the $INDU daily and weekly MACCI turning up in oversold territory?

If so would the next step be to go long the stocks in the strong portfolio that have 'Up' in the 'MACCI Trend' column & 'BUY' in the 'BuySell' column of your 'Iraj MACCI - Daily' indicator? And also ensuring sector diversification across stock selection?


Kind regards

TMM

 

[Grey1]

Grey1,

With reference to the FA/TA swing trading strategy you discussed at the beginning of your last live session would you agree a long signal has now been confirmed due to the $INDU daily and weekly MACCI turning up in oversold territory?

If so would the next step be to go long the stocks in the strong portfolio that have 'Up' in the 'MACCI Trend' column & 'BUY' in the 'BuySell' column of your 'Iraj MACCI - Daily' indicator? And also ensuring sector diversification across stock selection?


Kind regards

TMM

hi

I think this would be very very dangerous if we went long NOW ,,, We don't need to be a bottom fisher to make money ,, lets other people wet their feet first ,, We need to see MACCI to turn back up on th weekly and daily ..
Patience,, Patience

Grey1

 

[TheMoneyMachine]

hi

I think this would be very very dangerous if we went long NOW ,,, We don't need to be a bottom fisher to make money ,, lets other people wet their feet first ,, We need to see MACCI to turn back up on th weekly and daily ..
Patience,, Patience

Grey1

Hi Grey1,

so your looking for the daily & weekly MACCI to come out of oversold territory before considering a position?

Kind regards

TMM

 

[Grey1]

Hi Grey1,

so your looking for the daily & weekly MACCI to come out of oversold territory before considering a position?

Kind regards

TMM

yes they must be heading UP ,,,

Grey1

 

[TheMoneyMachine]

yes they must be heading UP ,,,

Grey1

Ok thanks Grey1.

 

[Glenn]

Hi Grey1,

so your looking for the daily & weekly MACCI to come out of oversold territory before considering a position?

Kind regards

TMM

As you say, they are already heading up.
However thay are incomplete.
i.e. the Daily bar isn't complete until the close today. If there is a big sell-off now into the close, the daily Macci would go flat or OS again.
Likewise the Weekly bar isn't complete until Friday's close, so you won't know whether the Wkly macci has turned up for sure until Monday next.
Glenn

 

[TheMoneyMachine]

As you say, they are already heading up.
However thay are incomplete.
i.e. the Daily bar isn't complete until the close today. If there is a big sell-off now into the close, the daily Macci would go flat or OS again.
Likewise the Weekly bar isn't complete until Friday's close, so you won't know whether the Wkly macci has turned up for sure until Monday next.
Glenn

Ok thanks Glenn.

 

[Trader333]

I am curious to know how people would have traded the evening session today (Tuesday 1st July). The 10 min Macci went OB at around 7.10pm. If you would have shorted the three stocks of SNDK, BHI and CCJ you would have been down 1% of your account before they would have made any profit.

How would others have played this ?


Paul

 

[Ultramarine]

I am curious to know how people would have traded the evening session today (Tuesday 1st July). The 10 min Macci went OB at around 7.10pm. If you would have shorted the three stocks of SNDK, BHI and CCJ you would have been down 1% of your account before they would have made any profit.

How would others have played this ?


Paul

i waited until the MACCI10 turned down but right after that the MACCI5 turned up taking my shorts with it. Had I held back for another 5 or 10 min I would have raked in the $$. As it is I'll be pawning my PC. Could have been worse as I kept getting the info from IB that SNDK wasn't shortable (and indeed it wasn't!!).
Got any spare change Guv..... ???

Al