Open price = low price = buy ? can someone help me out with this stratergy

[hedgefudge13]

Hey guys ,

I've been trading for almost a month now and I seem to have a modest/decent returns . I'm thinking of expanding my horizon and adding a few more strategies into my scalping/day trading routine .

I came across a strategy online where it says that if the open price and the low price of the stock are the same or nearly equal . we should buy it , as it generally goes up . I saw this strategy on many many sites and even read it somehwere on this forum and it seems to have a high % of accuracy .

It would be extremly helpful if the senior memebers who have used this stratergy can tell me more about it . cause i dont seem to be able to wrap my head around it .
cause when they say , open = low ... do they mean low in the first 30mins of the market or previous day or something else ?

if anyone had done any backtesting regarding it ,also would be extremely helpful .


Regards,

Hedgefudge

 

[casoni]

Hey guys ,

I've been trading for almost a month now and I seem to have a modest/decent returns . I'm thinking of expanding my horizon and adding a few more strategies into my scalping/day trading routine .

I came across a strategy online where it says that if the open price and the low price of the stock are the same or nearly equal . we should buy it , as it generally goes up . I saw this strategy on many many sites and even read it somehwere on this forum and it seems to have a high % of accuracy .

It would be extremly helpful if the senior memebers who have used this stratergy can tell me more about it . cause i dont seem to be able to wrap my head around it .
cause when they say , open = low ... do they mean low in the first 30mins of the market or previous day or something else ?

if anyone had done any backtesting regarding it ,also would be extremely helpful .


Regards,

Hedgefudge

Buy= open == low;

 

[hedgefudge13]

Buy= open == low;

can u kindly explain what does "==" mean ?

Looking for some insight ,

Hedgefudge

 

[sangram1705]

Hey guys ,

I've been trading for almost a month now and I seem to have a modest/decent returns . I'm thinking of expanding my horizon and adding a few more strategies into my scalping/day trading routine .

I came across a strategy online where it says that if the open price and the low price of the stock are the same or nearly equal . we should buy it , as it generally goes up . I saw this strategy on many many sites and even read it somehwere on this forum and it seems to have a high % of accuracy .

It would be extremly helpful if the senior memebers who have used this stratergy can tell me more about it . cause i dont seem to be able to wrap my head around it .
cause when they say , open = low ... do they mean low in the first 30mins of the market or previous day or something else ?

if anyone had done any backtesting regarding it ,also would be extremely helpful .


Regards,

Hedgefudge

dear bro,
1) now if u are making decent profits, why r u searching for new strategies?
2) to answer ur question objectively, I would say yes, there is a strategy.Previous LOD will act as some kind of support for a stock in uptrend.
BUT........................
The story doesn't end here(with this objective reply) as trading successfully is not buy here sell there.
3) Do google search "Decision Point trading" or search for Vjay sir's thread in this forum. You will understand.
again there is a but...............
4) to master it needs a lot of practice, patience & experience.
5) So if u r making decent profits with existing system/strategy it is not a good idea to hop from one system to another. (no harm in understanding other strategies & taking clues to modify your own)

Trading is simple but it is difficult to be simple. (time 2 remember Rajesh Khanna)

 

[hedgefudge13]

dear bro,
1) now if u are making decent profits, why r u searching for new strategies?
2) to answer ur question objectively, I would say yes, there is a strategy.Previous LOD will act as some kind of support for a stock in uptrend.
BUT........................
The story doesn't end here(with this objective reply) as trading successfully is not buy here sell there.
3) Do google search "Decision Point trading" or search for Vjay sir's thread in this forum. You will understand.
again there is a but...............
4) to master it needs a lot of practice, patience & experience.
5) So if u r making decent profits with existing system/strategy it is not a good idea to hop from one system to another. (no harm in understanding other strategies & taking clues to modify your own)

Trading is simple but it is difficult to be simple. (time 2 remember Rajesh Khanna)

To reply to ur 1st question :
I am making good profits . around 1.5-2% at avg per day . until now . but that doesnt mean i dont want to improve .

2ndly i am not looking for an indicator or a stratergy with 100% accuracy or anything . thats the reason i said " i am unable to wrap my head around it" and i am asking for backtesting results or people who have used this strategy to share their views .

3rdly true , i am not trying to change my stratergy . just adding a new one to the exsisting one . and i will be doing my research and backtesting (mannual ) myself .

Thanks alot for the direction will be goolging and searching a thread written by Vijay sir .

Thanking and regards,

HedgeFudge

 

[casoni]

can u kindly explain what does "==" mean ?

Looking for some insight ,

Hedgefudge

Symbol Meaning
< Less than
> Greater than
<= Less than or equal to
>= Greater than or equal to
== Equal to
!= Not equal to

Hope this helps
check Amibroker Tool bar > Help > Help files

 

[amitrandive]

Hey guys ,

I've been trading for almost a month now and I seem to have a modest/decent returns . I'm thinking of expanding my horizon and adding a few more strategies into my scalping/day trading routine .

I came across a strategy online where it says that if the open price and the low price of the stock are the same or nearly equal . we should buy it , as it generally goes up . I saw this strategy on many many sites and even read it somehwere on this forum and it seems to have a high % of accuracy .

It would be extremly helpful if the senior memebers who have used this stratergy can tell me more about it . cause i dont seem to be able to wrap my head around it .
cause when they say , open = low ... do they mean low in the first 30mins of the market or previous day or something else ?

if anyone had done any backtesting regarding it ,also would be extremely helpful .


Regards,

Hedgefudge

http://www.traderji.com/advanced-tr...ttern-no-charts-just-excel-13.html#post945532

 

[hedgefudge13]

http://www.traderji.com/advanced-tr...ttern-no-charts-just-excel-13.html#post945532

Thank you !!!! finally what i was asking .

Thanking ,
HedgeFudge