Thanks NT
As is evident from the posts, once the system shortlists , you also use your own logic on which stocks to enter from the generated list.
If you could give your reasoning along with the entry, it would help newbies like me to better appreciate the logic. It need not be elaborate,just a couple of lines at your own convenience would do.
Regards.
Hi Jatinder. Most of that logic is derived from the system rules which I, unfortunately, cannot share as the system and the rules belong to the organization.
However, I will tell you this. I enter only those stocks whose charts I find attractive and satisfy almost all the criteria of the system (software + rules). Basically, I am entering only the choicest stocks and hence, getting good results. This is also why you might see me entering longs even when markets appear bearish or shorts when markets seem bullish or like today entering one short as well as one long
Basically, I am betting that my stock is so good that it will go in its intended direction even if the overall market goes in the opposite direction. It doesnt always happen but has happened enough times for me to have confidence in taking such trades.
Another big part of the reason I am able to identify these stocks is the amount of time spent backtesting the system. Backtesting your system is something I would very strongly recommend to any beginner. It not only saves you from costly mistakes but simulates live trading and makes you an expert in a fraction of the time it woudl take you otherwise. Just imagine. You can backtest 5 years worth of charts in probably as little as 2 weeks. While there is no substitute for live trading, there is no substitute fo backtesting either
Hope this has helped a bit.