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Park...at your suggestion I have been working on High Tight Flag scans. It sure appears that there are varying definitions as to what constitutes the pattern though.
I've come up with one that uses Bull's definition as a guide and also some others that use a shorter timeframe. But in backtesting, results have been horrible...as has my double bottom attempts.
Of course, if one actually waits for the correct buy point and never touches the ones that don't hit the buy point then it may be a different story.
I'll continue to plug away but I'll refrain from posting the tix unless I can get better results.
So far the Cups w/ Handles have proved out well...although, most of them don't breakout either...But I set up my watch so that I can see which ones are moving in realtime(I have not done that with the other scans). So far, I've made 27 trades from our CwH lists...made $$$ on 21 and lost on 5 w/ one open trade that I'm up nicely on (CBEY).
If I make a buy and trim, then sell the rest later, I count that as one trade using the avg. gain/loss. If I buy, then sell, then buy again I count that as 2 trades...This applies to CBEY as I re-bot on Friday's b/o.
If I buy, then add I count that as only one trade.
The majority of my buys have been in the handle phase as it turns up. Of course I am not a long term investor, but so far I have found this method much more relaxing and profitable than my standard "Shoot From The Hip" short term style.
However, the market has been good since I started posting the CwH's...The real test will come when the market corrects.
Best, Doug
I've come up with one that uses Bull's definition as a guide and also some others that use a shorter timeframe. But in backtesting, results have been horrible...as has my double bottom attempts.
Of course, if one actually waits for the correct buy point and never touches the ones that don't hit the buy point then it may be a different story.
I'll continue to plug away but I'll refrain from posting the tix unless I can get better results.
So far the Cups w/ Handles have proved out well...although, most of them don't breakout either...But I set up my watch so that I can see which ones are moving in realtime(I have not done that with the other scans). So far, I've made 27 trades from our CwH lists...made $$$ on 21 and lost on 5 w/ one open trade that I'm up nicely on (CBEY).
If I make a buy and trim, then sell the rest later, I count that as one trade using the avg. gain/loss. If I buy, then sell, then buy again I count that as 2 trades...This applies to CBEY as I re-bot on Friday's b/o.
If I buy, then add I count that as only one trade.
The majority of my buys have been in the handle phase as it turns up. Of course I am not a long term investor, but so far I have found this method much more relaxing and profitable than my standard "Shoot From The Hip" short term style.
However, the market has been good since I started posting the CwH's...The real test will come when the market corrects.
Best, Doug
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