Replies to post #84 on Strategy Desk Users' Group

[Tony G]

<<All of these technical indicators bounce around all day long intraday>>
Yes, and it's hard to predict what a live tick will do to the daily sto, for example... like my brain isn't capable of comprehending that. So to me, that boils down to anything that can be a chart overlay, or related to price, is more predictable and useful in a live strategy than a lower study would be.
** You got it. The Daily Sto is recomputed after every tick intraday, in theory, as that day's price and volume changes. So yes there are lots of good indicators to identify overbought/oversold, but as Brian Shannon says "only price pays". I wholeheartedly agree that the actual price action is more important than any derived indicator.


<<buy/sell on the OPEN of the current bar if the completed 1-bar-ago met your trigger>>
Hadn't quite drawn that conclusion yet, but it makes total sense. You saved me some time there.
**You're welcome! This is exactly how it works in real-time. You'll see trades fired off within 1-2 seconds once the previous bar completes (the bar that met your formula), so your price is pretty much at the beginning of that next bar.

<<so if you don't want it to, you need to write more conditions into your formula>>
So do you have logic built in to not trigger buys at the open, or do you just let them fire and then ignore them? Or did I miss your point?
**I backtest with and without logic to act on gaps. So it depends on the stock. Some are ok to chase, some are not. try it both ways.

<<but only use that when we are in range-bound and consolidation patterns>>
I'm guessing that you trade a suite of stocks vs. scanning the herd for entries....??? I say that cause my style is to use the math to scan the entire market for entries, and I typically wouldn't pick up a range-bound stock on my radar.
** Yes I trade from within my watch list. just my comfort level.


<<or if I want to slowly sell off portions of my position.>>
Not sure if that part makes sense. Scaling out of a position is an advanced topic for me. To me it's either bull or bear or deciding.
** If its going in my direction I like to take profits along the way. just my preference. version 3.0+ lets you edit alerts that are on the sell-side, so this is helpful if you manually trim along the way.

This has been very helpful!
** no problem. You owe me a chart like my DXO :)