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 OTCcharts tutorial II.......FILTERS
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| Author | Topic: OTCcharts tutorial II.......FILTERS |
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dardadog unregistered |
posted January 25, 2004 11:46
 
Hope everyone used thread last week to get a handle on the "ease of use" with OTCcharts. Would like to hear positives and negatives from users. This week I would like to concentrate on "Filter Use". The first filter I give attention to in the A.M. is one that I have set to find the gappers every morning. I set it up as follows: PRICE RANGE: From .0001 To 2.00 PRICE ACTION: The "GAP UP" is higher than 10% relative to the "CLOSE". The second the trading day begins I click on "Result" in the top right hand corner (be sure you have checked the "realtime" box), and everything in Penny Land that opened with a decent gap is staring back at me. By watching for a minute, at least one of the "Gappers" shows the "Trade Volume" number going up like an express elevator. Within the first couple of minutes I have my first play of the day. Next, I have multiple "filters" set with same PRICE RANGE .0001 to 2.00, but in the PRICE ACTION windows, instead of "GAP", I select "GAIN". I set multiple filters for 10%, 20%, 30%,......all the way up to 100%. Of course, not all have results (generally the higher percentage gains) but these filters allow me to see "which train" is runnin' on the express track. Play with the filters folks, I have found them to be invaluable. Good Luck out there and I hope these "tutorials" are helpful. Again, feel free to contact me for additional help. ------------------ IP: Logged |
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lilpennypincher Member |
posted January 25, 2004 13:49
You are DaDog! Thanks for all of your help Lil IP: Logged |
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fastrunner Member |
posted January 25, 2004 14:26
Thank you thank you thank you IP: Logged |
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Marcidius Member |
posted January 25, 2004 14:55
Thanks DOG!!! Been a tremendous help and I am just starting to learn how to use it BTW, does OTCCharts have a full realtime lvl 2 system?? I haven't found it yet and I would LOVE to have/use it...I hope it does IP: Logged |
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dardadog unregistered |
posted January 25, 2004 15:41
Marcidius, the real data and statistics is Level II monitor, plus all news. It allows you to see when an MM is playing with the stock. When you see multiple bids (many trades occurring at 12:53:14), and the price is bouncing up and down, up and down, they are acquiring massive amounts of shares while keeping the price at or below the level at where they started. If you count the shares when they start this trading frenzy, you will always find that they are buying many more than they are selling while manipulating the bid/ask at the same time. Those that can't see what is happening here sometimes think that the whole world is dumping and add to the chaos by dumping theirs also. When a large amount of traders start dumping frantically (and cuss themselves later for not staying in), it just helps large groups maintain the lower price levels. In a sense, we bitch about the MM's, but are shooting ourselves in the foot. They are professional, and often play us like a punch and judy puppet show. Everyone trading in the day of the "internet trader" should not be without Level II and understand how it works. Just my own personal opinion. ------------------ IP: Logged |
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keithsan Member |
posted January 25, 2004 15:55
ddog, Read constantly but offer no insight as I have none yet. I do not have otc charts yet but am saving your ideas for the summer. I teach and am unable to watch charts all day. IP: Logged |
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keithsan Member |
posted January 25, 2004 15:58
sorry, wrong button an sent without a question. anyways, you watch the gap up and volume gain and say it is your first play. but, do you wait for a retracement before your entering point or is this a "hot" stock that probably will not retrace and you but directly in. please excuse my current incompetence with time I can conquer anything. Keith IP: Logged |
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Degs Member |
posted January 25, 2004 16:03
Dog do you get many results in the range of .0001 to .0009 with those setting? IP: Logged |
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dardadog unregistered |
posted January 25, 2004 16:57
Many times the "first play" of the day is out of control headed north on fantastic news. No system is gauranteed and for me to say this is foolproof is like I've got the plan to beat Vegas, everybody follow me. Many of the decisions I make are "gut feeling". "Don't be afraid to trust your instincts". If it turns around, either improve your position and buy more, or get off the train. As far as .0001 to .0009, their there, but there rare. I hav one filter set up with these parameters but the PRICE RANGE is .0001 to .01. Be imaginative, set them for what you are looking for. Good Luck out there, and research, research, research. Do Da Due!!! ------------------ [This message has been edited by dardadog (edited January 25, 2004).] [This message has been edited by dardadog (edited January 25, 2004).] IP: Logged |
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keithsan Member |
posted January 25, 2004 17:12
Thanx, was looking for your insight not expecting gospel! it is good to know how this works for you I follow trends and ideas to see what works for me and to see if I can gather certain feels for certain plays thanx again. Keith IP: Logged |
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newstockpicker Member |
posted January 25, 2004 19:54
I missed the post last week and can't find it to save my backside ... would you mind posting the link to last weeks lesson? ------------------ Walt IP: Logged |
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dardadog unregistered |
posted January 26, 2004 01:59
http://www.allstocks.com/stockmessageboard/ubb/Forum8/HTML/003217.html ------------------ IP: Logged |
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