Ok so for those interested in the shootout an the scan .
This is the parameters of the scan for incredible chart users .Not sure how they work on other programs but would be interested if they do .
View attachment 4576114The scan was set out to pick crosses of the trix bias line similar to this chart . In The trix the cross of the bias line is called the cup . And it quite often throws the top edge of the cup . Its here where we have often tried for the pattern area for a breakup rather than breakdown in price as it throws those flags pennats etc and quite often stock stall here in the scan for a few days while forming under the market pressure .
Shooting Star bless him bought up an interesting conversation that made me look differently at something ive played around with for awhile trying do combination scanning etc ie you can watch your stocks appear through different scans or even sift the stocks from different scans if they appear in several .
We had some success with this as ammie can remember . Just wheter it was the period of the market some fluke or really worked im not sure ? We were sifting three scans an selecting the stocks from them an entering the competion .Not off the chart but the scans .
It greatly reduced scrolling of the charts down to a narrow field as a sifter . We still missed stuff an had mixed results like any market we were straight out having a punt testing if we had found something in the mystery of scanning . What stock stock is going go up and do all those numbers mean anything?
This what we set out to do . Find the trix crossing the bias line .The trixes supposed strength is in the bottom of markets as is triple smoothed average .
View attachment 4576009What happened was we had a scan that picked up a pause in the market around three four days quite often where the top of the cup formed and flags etc . Not perfect it does other things but good enough over the years to know its predominate to recognize it when scrolling.
Now we dont look at the trix much at all as we use a faster average linear line in a forty day average which crosses mostly day before etc of when the trix signal line crosses etc so i dont think is needed for those scrolling first up sifting we kind of already know what the trix is doing in upper indicators . We cross hair volume sometimes on candles we want know more about and look at the obv at times .
But we are more price focused than volume an a scan should sift our volume to buy sell anyway if you have that in your settings to my way of thinking ? We are a bit one focused in what we look for around linear stuff in averages it would not matter what you used possibly once you like a setting you get used to it . And if your scanning around your indicators your hopefully getting some of the stuff around them rather than the stuff you don't want to scroll .
No scan is a bad scan you just need follow it for a time an know how it reacts in market conditions . Like they surprise you but you get know stocks you think will appear in them after time imo
I had no idea what i was doing when i started technical stuff . I set out with scanning first then onto the charts once i had something i could use with the indicators i had chosen and why i use them . Spreading risk capital management etc etc
You should be able trade the pants off anything right ?
How wrong we can be when we get emotions ,various market conditions fundamental changes out of the blue etc etc it can all come apart very quickly with the various information we take in .There is no guide book to how you are going just whether you make money or not .
That can be the sad part of developing an edge for yourself with the market as it can an does cost a lot in both money an time .We have a team here which is fantastic, an resources to work with , a competition to go in an friendships we share with ups an downs an the different stocks we come across etc
We are truly blessed to be able do this rather than a book you read etc We are living it and doing it live as close to the market you can get imo .
Anyway we know this . So today guess what stock appeared in the scan ? You have three chances as is a review stock doing a easily recognized pattern perhaps ?
Suspense anyone ?
More to be revealed for this to come .
Motivate yourself with this vision for the top ten shootout an be in it this weekend . Select ten stocks from tonight's scan . To be reveled !
An in a month we can see how it happened . pmd3nka knows we have been working away at this for years ive just not seen it clearly yet if it can be done . I need help with other people joining in the possibilities of trading .
Like the show and shine events . I find them hugely helpful when a group is sharing information . Take your time think about it .
Experienced or not, fundamental or not if you could make a profit from a pre selected bunch of stocks from a scan .
The prize ? Everyone's a winner but will reveal what sort of boat racing Malaga did in the trivia question from the boat show .
