How do you avoid buying at the high and selling at the low of the day?

Discussion in 'Trading' started by ms33, Dec 3, 2022.

  1. s trader

    s trader

    I can sympathize with you. I have that inclination that get me to buy when i think a big breakout happened in the next 5 minutes and lots of time i would lose big soon after. I still do that but with stop loss and after the order is placed i do not look at it until a while. If you are correct there be some nice gain.
     
    #11     Dec 4, 2022
  2. maxinger

    maxinger


    Congrats !


    you were

    +$120
    + $104
    - $8
    -$19
    = $197 positive.
    You were doing well.
    It doesn't matter whether you were buying at the high
    and selling at the low.
    Bottom line is that you were positive.
    Keep it up.


    If you continue to be consistent, you can double your trading quantity,
    & hence double your profit etc etc
     
    Last edited: Dec 4, 2022
    #12     Dec 4, 2022
  3. ms33

    ms33

    The names I've chosen are highly filtered. They're in a confirmed uptrend using Mark Minervini's trend filter and they've reached a pivot point for breaking out as determined by Marketsmith. Among a host of strong fundamentals, they all have a relative strength of greater than 90 and equally strong earnings metrics.
     
    #13     Dec 4, 2022
  4. deaddog

    deaddog

    What's your time frame?
     
    #14     Dec 4, 2022
  5. Have you ran a backtest of the strategy ?
     
    #15     Dec 4, 2022
  6. ms33

    ms33

    1 day to 3 months depending the strength of the breakout. Effectively, five days.
     
    Last edited: Dec 5, 2022
    #16     Dec 5, 2022
    deaddog likes this.
  7. ms33

    ms33

    Ongoing challenge. I monitor Mark Minervini trades closely and test the names from my Minervini screens.Clearly outperforms any naive portfolio I can create on my own (highest returns with the lowest standard deviation for one month and for five days.) Monitor Minervini closely to see if he's honest. The claim that he made 100% returns every year from 2000 to present doesn't square with reality. If he had $2 mil in 2000, and there's reason to believe he had upwards of $5 mil, doubling every year would put his portfolio $47 trillion. Personally, I don't think he has $47 trillion. But my experience is that you have to sift the tradeable statements from the likely bullshit wherever you go. On the plus side, his market calls that have been accurate to the day over the last 18 months and persisted for months. And tutorially the most effective teacher of methods I've come across.
     
    Last edited: Dec 5, 2022
    #17     Dec 5, 2022
  8. Innervoice

    Innervoice

    Dont buy parabolic moves that randomly go straight up.
    Dont buy the open : wait 5-10 minutes.
     
    #18     Dec 5, 2022