Quote:
|
Originally Posted by cruz Thanks MP.
Are you referring to the #1 post of this thread for the instructions? Just wanted to make sure as I have been reading all the threads pertaining to this method and was getting confuse about all the rules with the momentum, ad, rsi, wlr, and timeseries.
If I recall the #1 post of this thread just talks about the TSF. In the other threads, the momentum, ad, rsi, wlr rules are given.
I'll just have to reread again. I am looking for a "cheat" sheet I guess. But maybe I just need to KISS and just follow your reply. 
Is this thread the "official" instructions i.e. scrap the other threads? I am using the StockFetcher scan emulated by TRO - it seems to replicate what generates on prophet.net. |
===========================================
i havent a clue as to what stockfetcher scan by TRO you refer to but the "official" guide is here --
http://www.stockhideout.com/showthread.php?t=997
any additions by "therumpledone" or others, while certainly helpful, do not alter the original instructions, but add "stockfetcher" scans that supposedly make it easier to find stocks that the RSIWLR method would find as hitting bottom, although a simple "pattern scan" using a stock that is bottoming as a "pattern" will turn up any number of candidates.
the RSIWLR was designed essentially for newbs to be able to recognize stocks that should be coming off their bottoms and presenting a good trading opportunity and/or to be able to check "touted stocks" to see if the stock has already hit its highs, and are ready to be dumped --- preventing the newb from buying at the high and then becoming a bagholder, and how one scans for these stocks depends on what criteria one normally uses, although "below lower bollinger" and "touched lower LRC" will certainly find them for you.
the whole idea behind it is to offer a fairly non-technical way of testing a stock to those who do not yet understand technical analysis well, and to that end it is excellent. Simply stated, if a stock is touted as "get in now" and you see that its about to hit (or has hit) the top LRC and the RSI is in the 90-100% area, DO NOT DO IT !!!!! Also, coming from the other direction, with the use of the timeseries lines crossing UNDER a stock and the RSI and the other indicators hitting bottom,, one has a very decent method to see if a stock is looking for a run also.
If you simply watch it and watch your chosen stock, you will understand how it works almost immediately ---- not a "cheat sheet", but a very efficient method of seeing what a chosen stock should do next ! Just follow a few stocks with it for a week or so and you will understand !
and since you have questions, i guess its up to me to clarify the threads about it by combining and deleting whats not needed --- thnx for the insight.
enjoy, and trade well !
mp