Intrad day buy signal

Discussion in 'Trading' started by DayTraderNYC, May 20, 2002.

  1. Im wondering if traders here can pass around some ideas about intraday buy signals...stock specifc. Im interested in creating a filter that I can just buy with my eyes closed as long as it comes up on the filter. Some of the rules I might look for might include:

    1) Futures positive.
    2) Stock above opening price by "X cents" but not more than "x cents" (I dont want a stock that has already ripped $5 for the day).
    3) Stock net positive (maybe, maybe not) - stock could open down and trade this one is negotiable.
    4) Bid size bigger than Ask size.
    5) Bid size of at least X shares.
    6) Ask size at least x shares (Wouldnt want to send buy 1000 when there's only 100 at the offer adn get filled 50 cents higher).
    7) Bid-ask spread less than X cents (wouldn't want to buy into a spread).
    8) Uptick?
    9) Etc...

    I have some other criteria but are there any suggestions? Perhaps some technical indicators like moving avaergaes or others? Im strictly interested in INTRA DAY trades only.

  2. lescor


    Are you using FirstAlert? This is the only software I've seen that can filter the whole market looking for these kind of criteria (haven't used RealTick, so I can't comment on it).

    If so, the manual that comes with the software has some pretty good canned filters that sound like what you are describing.


    Why do you have bid size as a criteria
  4. You want a filter that you can follow blindly and make money? Theres no such thing my friend. You can use as many filters as you want but you can be sure that about half of your trades will not go the way you want. What you have to do is to get out of the bad trades in a hurry and milk the good ones. Piece of cake:)
  5. Yup...Im using First Alert. Its very flexible...
    But so far...nobody has posted any useful criteria yet.
    And..of course, Easyrider...Im not expecting it to make me money 100% of time..and, of course, you must use wise money management.,..blah blah blah blah... Let's skip the generalitis and see if we can come up with some specific money making ideas...shall we? Im assuming we are all aware of things that needs to be done (not that we actually follow..but thats another thread) to be successful...Im just looking for some more ideas.

    So..please....spare me the "buy low, sell high" comments. Aren't we all a bit beyond that by now?
  6. Why do I want to look at Bid Size? lol...well...Because it would be nice to see some nice size stepping up as the stock upticks.... Of course, you never know what the specialist is doing..could be avoid NX trades..who knows??? But it is always nice to see some big size on the bid if you wanna go long..dont you?
  7. "So..please....spare me the "buy low, sell high" comments. Aren't we all a bit beyond that
    by now?"

    Are we beyond selling lows and buying highs? Momentum rules.


    Be Spock.
  8. Trading is blah, blah, blah. Simple and boring.