Yes, I was looking at the filter they posted on their blog that they suggest to use for finding dummies: http://marketmovers.blogspot.com/2005/11/strategy-session-dummies.html
Solid day...Allocated .3% of my account to risk. Lost .8R on TM Effect on account: -.24% Nice trade on BDK, got in on the False Break of the inside bar but held on..made 2R Effect on account+.6% MCK ideal dummy setup...risked .06, closed up .27 (4R) Effect on account +1.2% Total ROI=1.56%
Nice work HTT! All of my trades pretty much went sideways, so I ended up scratching all except for AKAM which gave me a little over 2R. Nothing great, but better than losing money. Have a good weekend.
Its safe to say that pretty much any sort of filter for 'unusual' activity would have picked up MRK today.
Good day of trading. CMED=.58R, 1.12Return MRK=.13R, .20 Return CESV=.10R, .12 Return ENR=.23R, .40 Return PRGX=.03R, .07Return Losses ALVR=.03R, .02LOSS NYNY=.05R, .06LOSS (slippage) Good day overall, did a lot of shares, but was up nicely. Good luck
An idea I've been toying with is to add a sort of filter to the 'dummy' criteria. Without making it too complex, that is. Something like taking signals from NR and/or inside candles. The advantage of this sort of filter is that it ensures that you have a tight stop loss. The disadvantage is that that may not be an advantage I mean, you could get whipsawed or miss out on otherwise profitable entries (signals from wide range or outside bars). I haven't changed my take on things yet, but I'm starting to look at the charts with a 'what-if' now. Anyway, just some thoughts.
Yes, having a tight inside bar can be tough to find, but I do find it very effective. I have been doing well finding stocks by looking at the gap up/gap down lists and intraday watching the % ups/downs. Good luck, would be interesting to see how everyone else is doing--Babak are you trading this daily?
I've been doing well... I've been a little busy to be able to post any charts etc., but yesterday I grabbed a 4R+ on CMED. So far so good.
Here's a failed setup: COGN this morning broke down of its NR, then backed up for a stop loss just to break down again to new lows. Looking at the chart later I realized this stock regularly makes reversal on 15 minute periods...