RSI(2) - The Little Indicator That Could - StockFetcher.com Stock Screener

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marine2 963 posts msg #35462 - Ignore marine2	3/25/2005 11:57:26 PM The previous comment, "Trading is not about FAITH, it's about SKILL!" is interesting but not true. I would say this, if you don't have faith in your trading skills then you need to refocus your efforts on honing those skills where the faith will come to you and drives you to that success your striving for. To say trading doesn't involve faith (faith = confidence, trust, assurance, sureness, certainty etc) is like saying you can drive your car without a steering wheel. Therefore, trading does require skill, faith, discipline, persistence, a plan, and a postive spirit. Study hard, give it your best effort, and never let a loss get you down but learn from it. If RSI(2) system is your filtering tool of choice, great. But, if you have another filtering tool of choice you're more comfortable with so be it. Find the one best suited to your style of trading and go for it. Never let anyone tell you that one way is the only way. That is narrow thinking which is ridiculous. Happy Investing! Marine2
judgetrade 107 posts msg #35467 - Ignore judgetrade	3/26/2005 4:20:48 PM TheRumpledOne, I have not asked a question, just want to describe how I want to trade it after testing it. The screen is not from me, I got it from within this board (can not remember the post) and tweaked it. The system is profitable, even if you do not wait for green, I am not sure, but it might even add to the bottom line since you do get the positive gap up, which you can not trade if you wait for green, but I have not backtestet this. I even would like to wait for green but I can not since I am trading from europe and I have an every day job. What really shockes me (in a positive way): I have designed several systems that are based on panik selling with very high performance and I am trading them sucessfully. But the thing is: the systems I have designed so far only work when the market is in an uptrend. Since Jan. 14. of this year, I have a sell signal and my money is in money market funds. What I have seen so far (I tested 2004, 2005 and 1997) from the sreen I have posted, it produces a fantastic capital curve line with very low maximum drawdown, especially with fixed fractional bet size and a 25% Stop Loss per position even in downtrendig markets. (Though reality is never as good as backtesting). Further more: I order to trade a system sucessfully you not have to convince your rational parts of your brain, you also have to convince the rest (which is 100 times bigger, at least in my brain :-)) that takes time, so I backtest, real-time test it until I dream at nights about it, and then jump in with a very small bet size and rules I can repeat by heart and implement automatically even after a bottle of white rum. I know it works to buy panik selling but stockfetcher is a new environment for me and I have to test the water otherwise I will get killed in real time trading. Knowing yourself is important in trading! I takes time for me (2-6 Months or so ) in order to convice myself. Once again TheRumpledOne: THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU for showing me this nice indicator! Best Regards Andreas
marine2 963 posts msg #35479 - Ignore marine2	3/27/2005 11:24:36 PM The previous comment, "Trading is not about FAITH, it's about SKILL!" is interesting but not true. I would say this, if you don't have faith in your trading skills then you need to refocus your efforts on honing those skills where the faith will come to you and drives you to that success your striving for. To say trading doesn't involve faith (faith = confidence, trust, assurance, sureness, certainty etc) is like saying you can drive your car without a steering wheel. Therefore, trading does require skill, faith, discipline, persistence, a plan, and a postive spirit. Study hard, give it your best effort, and never let a loss get you down but learn from it. If RSI(2) system is your filtering tool of choice, great. But, if you have another filtering tool of choice you're more comfortable with so be it. Find the one best suited to your style of trading and go for it. Never let anyone tell you that one way is the only way. That is narrow thinking which is ridiculous. Happy Investing! Marine2
TheRumpledOne 6,529 posts msg #35487 - Ignore TheRumpledOne	3/29/2005 8:32:52 AM Your comment " rsarno 3/24/2005 10:47:36 PM when i said that, i meant i have not looked at it enough to decide how i feel. i have been trying to learn the muddy method exclusively, and it is difficult for me to stray and learn bits and peices of different things, such as RSI(2) muddy method consists of ONLY fast stoch, i cannot keep switching channels lol. also i have so much on my plate right now im not even trading muddy method, due to family issues." IS NOT ACCURATE. I suggest you go to the muddy method room on yahoo and study. FINANCE.GROUPS.YAHOO.COM/GROUP/STOCKFETCHER I am one of the moderators there so I know for sure. The Muddy Method has evolved and has included rsi(2) for over a year. MAY ALL YOUR FILLS BE COMPLETE.
bpatel23 4 posts msg #35521 - Ignore bpatel23	4/4/2005 1:41:18 AM Guys, will someone just post the RSI(2) filter that the rumpledone has been using and has been successful? I have searched this entire message board and looked at the yahoo site and I am utterly confused as to which exact filter to use and how. Just need a quick explanation here and I am sure you will help a dozen otehr lost souls like myself. Thanks in advance.
texasjky 1 posts msg #35524 - Ignore texasjky	4/4/2005 9:03:14 AM One that I found was on page 14 of this forum. Page down to the message on 3/14/2005 at 11:37:45. That is the filter I have been using. I am new to this also but it looks really promising.
rsarno 103 posts msg #35528 - Ignore rsarno	4/4/2005 5:02:42 PM "will someone just post the RSI(2) filter that the rumpledone has been using and has been successful?" i might be wrong, but i think he just uses: show stocks where RSI(2) < 1 add your own volume/price conditions, and do your own DD. again i might be wrong, all i know is if you ask him about ANYTHING like "hey did you see that yankee game?" his response is "keep it simple, rsi below 1" lol!
knowsenough 54 posts msg #35529 - Ignore knowsenough	4/4/2005 10:24:39 PM It's buried in this thread in one of the earlier pages but I'm certain he and his followers use a better version. Here is the original write... rsi(2) equals rsi(2) 200 day low and 200 day slope of the close above 0 and close above 0.01 and Average Volume(10) is above 300000 and volume above 300000 and date offset is 0 A 3 day offset reveals... Performance results for your filter covering the dates: Wednesday March 30, 2005 to Monday April 4, 2005 Change Offset 3 Results For Next... 1 Day +1.16% Overall Adv(%) 10 @ (+3.20%) 5 @ (-2.68%) 1 UNCH 2 Days +5.38% Overall Adv(%) 9 @ (+10.31%) 5 @ (-1.36%) 2 UNCH 3 Days +4.01% Overall Adv(%) 7 @ (+12.25%) 9 @ (-2.41%) 0 UNCH 16 matching stocks I used a 3 day offset because that seems to be it's best % yield recently. Just for fun seeing the sheer volume of posts to this thread showing huge interest, I wrote a new script tonight and used RSI(2) at a 1 month low with 7 lines of TA crap I use and got this... Performance results for your filter covering the dates: Wednesday March 30, 2005 to Monday April 4, 2005 Change Offset 3 Results For Next... 1 Day +2.70% Overall Adv(%) 12 @ (+7.93%) 6 @ (-7.29%) 1 UNCH 2 Days +5.68% Overall Adv(%) 11 @ (+11.96%) 6 @ (-3.96%) 2 UNCH 3 Days +8.06% Overall Adv(%) 12 @ (+14.95%) 6 @ (-4.39%) 1 UNCH 19 matching stocks I guess to be fair though one would need to use the same price range return. I used .20 - 6.38 in the later screen. Had I ran the RSI(2) screen with that limit the % return would be a (2) day best of 5.08%. There is a lot to trading the stocks correctly and I'm sure there is some better returns in the secret screen they use, but it appears to be fine in it's original write and can easily be improved to suit anyone's needs.
TheRumpledOne 6,529 posts msg #35530 - Ignore TheRumpledOne	4/4/2005 11:22:18 PM There is no "secret" RSI(2) filter... RSI(2) < 1 is at the core. Price, volume, or anything else is just up to the individual. Track the QQQQ with RSI(2) < 1 and you tell me, does it get you in at the bottom? MAY ALL YOUR FILLS BE COMPLETE.
corsino 259 posts msg #35565 - Ignore corsino	4/10/2005 7:32:45 PM ONE-WEEK RSI (2) FILTER Since I had accummulated over two dozen filters gathered from various sources,I needed to thin them out.So I ran a rather unscientific backtest for the last 3 months. Comparing the results for a one-week holding period, and getting a new sample every ten days, for a total of seven samples, up to 8 days ago.This is the filter that performed the best, having 4 up weeks, 2 down weeks,and 1 week with no stocks. Accummulated result was +57.42 %. No other of my filters came even close. Show stocks where RSI(2)<1 and average volume (10) is above 300000 and close is between 0.5 and 3 and close more than 10% below close 1 day ago Reducing the volume to "above 50000" resulted in more picks, but lower percentage gain. This was a purely mechanical comparison,using all the stocks from the scans.

StockFetcher Forums · Filter Exchange · RSI(2) - The Little Indicator That Could

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