Pre-Sales VIP Questions

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Learnbot

Active member
I am not VIP member yet, however, thinking about subscribing to your discord and obtaining the "buy the dip" indicator. I just wanted to check something before I subscribe to VIP, would you be able to post an example of 1min chart for TSLA, Apple, ZM or whatever else stock you see fit (not penny stocks plz since I am not that educated to trade small caps yet). I wanted to see if Buy the Dip works for day trading as well as swing.

Edit: This thread has gotten very long. Added some info below for easier access to information.
Summary:
https://usethinkscript.com/threads/buy-the-dip-vip-indicator-question.3790/page-23#post-89427

Helpful links for anyone interested in seeing how VIP members are using the BTD indicator to trade:
Customer's reviews:
More reviews can be found here: https://usethinkscript.com/threads/buy-the-dip-indicator-for-thinkorswim.3553/post-34186
 
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BenTen said:
@barbaros Arrows are included but turned off by default. We do have two different versions of the BTD indicator. One is the standard version, and the other one is the Advanced version, which has additional parameters in place to filter out some signals. We recently rolled out the Conservative Model as well.

Here is /ES on the 10m chart.

bSCuQbB.png
Click to expand...
can you show me SPY on 15 min chart?
 
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germanburrito said:
yeah i don't use it because it doesn't really fit my trading strategy but the notes do seem to point towards Larry Williams trading strategies. however using it with some sort of levels and multi-time-frame analysis might be helpful. and that's interesting I haven't tried trading penny stocks in a while, not because I don't see the value, but because I don't know much about penny stocks, I know they are a world of their own, following and deciphering how to evaluate the technicals and fundamentals would take a lot of effort from my part, and it never made sense to me. I like to trade popular stocks that are being boring if that makes any sense, they seem to follow more "natural" movements.
Click to expand...
Well, buy the dip, just dipped again on SOL. Funny, because SOL stands Sh*t Out of Luck. The stock was at 19.67 when I bought the dip and it's dipped down to 17.00 levels as of today. I'm going to stop trading with it, because it loses pretty much every time. I'll try some paper trading with it to determine if there is any value in it for future use. There has to be a way to set stops and targets with it. What I've seen thus far is just throwing those out at random and hoping the target hits rather than the stop. Not really a good strategy unless you want to blow up your account. Luckily, I only took a small position, but that small position is already down more than $500, or about 13.5%. BTD is more like Blowup The Dollars, because using it could blow up your account if you go too deep using it.
 
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FreefallJM03 said:
Well, buy the dip, just dipped again on SOL. Funny, because SOL stands Sh*t Out of Luck. The stock was at 19.67 when I bought the dip and it's dipped down to 17.00 levels as of today. I'm going to stop trading with it, because it loses pretty much every time. I'll try some paper trading with it to determine if there is any value in it for future use. There has to be a way to set stops and targets with it. What I've seen thus far is just throwing those out at random and hoping the target hits rather than the stop. Not really a good strategy unless you want to blow up your account. Luckily, I only took a small position, but that small position is already down more than $500, or about 13.5%. BTD is more like Blowup The Dollars, because using it could blow up your account if you go too deep using it.
Click to expand...
I don’t think you are using this indicator correctly. From what I understand, you shouldn’t be using it on stocks that are not trending and that are not in uptrend. It’s purpose is to show you possible optimal entry points when there are pullbacks in an uptrend. What other indicators are you using to confirm before entering a trade?

For example, MACD on its own may give a lot of false signals, but if you use it with 200MA, it improves the performance greatly. Every indicator has its place, and from what I understand, this is not to be used in any market condition with any stock.
 
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@FreefallJM03 @barbaros is right. Your BTD strategy should never have included $SOL in the position it is in today. $SOL hasn't had a long-term uptrend since January, on top of which the whole market is down. The idea of buying a dip. It to buy an uptrending stock that has taken a momentary dip (not caused by bad news) then when the market is trending up, ride the wave.

NLU6YP6.png
 
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MerryDay said:
@FreefallJM03 @barbaros is right. Your BTD strategy should never have included SOL in the position it is in today. $SOL hasn't had a long-term uptrend since January, on top of which the whole market is down. The idea of buying a dip. It to buy an uptrending stock that has taken a momentary dip (not caused by bad news) then when the market is trending up, ride the wave.

NLU6YP6.png
Click to expand...
I think there has to be a method to the strategy just like any others that also will pick a stinker, but I get a LOT of stinkers in BTD, probably more stinkers than streakers (those that go up). It looks like it will close above my stop which I set 1% below 50 moving average, but that's a pretty steep loss if it closes that low. My losses are generally about a .25-.5% loss while my gains are generally 10% or above with my own strategy. BTD doesn't give that solid stock behavioral analysis I use. I am going to figure out how to use it, then right I post about it like I did with the Reversal Trend Indicator which wins 73-83% of the time during any given month. This is my first BTD buy and well, you can see it isn't going very well. I see hits on the scanner frequently, but have mainly stayed away from it until this one yesterday.
 
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@FreefallJM03 You are still not getting it. It is not whether you are using a reverse trend or BTD which is causing your losses. The whole point of a trending strategy is that the stock MUST BE TRENDING! It doesn't matter what indicator you use for your scan. You need to verify that it is a stock that is likely to go up.

Here are some type of uptrends:

NMlTk4a.png


I have had a few losses but the BTD has been 99.9999% successful because the stocks themselves were stocks that had a solid history of trending up.

oAjdczm.png
 
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barbaros said:
I don’t think you are using this indicator correctly. From what I understand, you shouldn’t be using it on stocks that are not trending and that are not in uptrend. It’s purpose is to show you possible optimal entry points when there are pullbacks in an uptrend. What other indicators are you using to confirm before entering a trade?

For example, MACD on its own may give a lot of false signals, but if you use it with 200MA, it improves the performance greatly. Every indicator has its place, and from what I understand, this is not to be used in any market condition with any stock.
Click to expand...
SOL was above 50 SMA and 200 SMA on entry. So, if you're saying using it with 200 SMA improves performance greatly, then explain how it being far above 200 SMA was a bad call.

Lesson learned, BTD is not the strategy for me. This will be the third loss for 2021 thus far out of 40 trades. I'll look at it for other trades, but I primarily do reversal trades on stocks that are bottomed out and likely to reverse to the upside. On most of the stocks I trade I see BTD, BTD, BTD, BTD long before I actually enter the trade. That's why I'd asked months ago if it was a scaling strategy, but didn't get an answer.

MerryDay said:
@FreefallJM03 You are still not getting it. It is not whether you are using a reverse trend or BTD which is causing your losses. The whole point of a trending strategy is that the stock MUST BE TRENDING! It doesn't matter what indicator you use for your scan. You need to verify that it is a stock that is likely to go up.

Here are some type of uptrends:

NMlTk4a.png


I have had a few losses but the BTD has been 99.9999% successful because the stocks themselves were stocks that had a solid history of trending up.

oAjdczm.png
Click to expand...
I looked up several of these stocks and not one shows a Buy the Dip bubble on it. I understand uptrends, sheesh, I have a 124.3% return over the past four months. If BTD detects this many false signals, then it doesn't work for me. I do reversal trades primarily such as with CODX which gained a 38% plus return, USX 28%. I just started to experiment with BTD. I'd inquired about it four months ago when I joined this site about it being repetitive and if it was an averaging down type strategy, which I wouldn't use, but never got an answer on it. When I looked at your example FLGT, there was no indication of a BTD signal on the chart for the daily which is what I am using it for since it said it was good for swing trades.
 
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@FreefallJM03 You are right... BTD is NOT the indicator for you because you can't wrap your head around it... That's why there are so many indicators out there... What works for me may not work for you and what works for you may not work for others... I, personally, don't use BTD because it doesn't fit into my trading system but I know it works of others... It's intended as a signal for potential uptrends but it only indicates to watch for potential entry, not guaranteed success... Write it off and move on... Something is bound to work - or not...
 
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rad14733 said:
@FreefallJM03 You are right... BTD is NOT the indicator for you because you can't wrap your head around it... That's why there are so many indicators out there... What works for me may not work for you and what works for you may not work for others... I, personally, don't use BTD because it doesn't fit into my trading system but I know it works of others... It's intended as a signal for potential uptrends but it only indicates to watch for potential entry, not guaranteed success... Write it off and move on... Something is bound to work - or not...
Click to expand...
Thanks, but you just contradicted two other people on its use. I'm going to tweak it for something I might be able to use it for and paper trade it while I do live trades with my other strategies. I'm always looking for other things to add to the toolbox. My day trade scanner works about 87% of the time, but I don't have to filter it or eyeball it like others have suggested for BTD. I think a 124.3% return over four months is pretty good. I don't know maybe you crush that in your trading and that's including the loss on SOL.
 
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@FreefallJM03, I watch the BTD over many charts. Currently, most of my signals are on the 2hr but I also trade 1hr and 4hr sometimes tick and daily charts. Because I only trade stocks that have strong uptrends, I would say that I get less than a dozen signals a day, sometimes much less than that.

Even when I finally get a BTD signal AND it is one of my strong uptrending stocks, I still wait for a signal to enter that is indicative that the downtrend has ended and it really is poised to shoot back up (the RSM indicator is good for this).

Sometimes it takes time for that turnaround. I bought JPM which dipped even though they just had a very good earnings report. It kept on dipping. But it is a strong uptrending stock and though it took over a week, it did bounce back.

If you only buy into stocks that have long-term uptrends, you can consistently have positive trades. Using Reverse Trend, Buy The Dip, Gap Up, or other strategies help identify which of those stocks will give you the best Return On Your Investment. Your focus is on finding the perfect indicator when your focus should be on building your corral of strong stocks.
 
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MerryDay said:
@FreefallJM03, I watch the BTD over many charts. Currently, most of my signals are on the 2hr but I also trade 1hr and 4hr sometimes tick and daily charts. Because I only trade stocks that have strong uptrends, I would say that I get less than a dozen signals a day, sometimes much less than that.

Even when I finally get a BTD signal AND it is one of my strong uptrending stocks, I still wait for a signal to enter that is indicative that the downtrend has ended and it really is poised to shoot back up (the RSM indicator is good for this).

Sometimes it takes time for that turnaround. I bought JPM which dipped even though they just had a very good earnings report. It kept on dipping. But it is a strong uptrending stock and though it took over a week, it did bounce back.

If you only buy into stocks that have long-term uptrends, you can consistently have positive trades. Using Reverse Trend, Buy The Dip, Gap Up, or other strategies help identify which of those stocks will give you the best Return On Your Investment. Your focus is on finding the perfect indicator when your focus should be on building your corral of strong stocks.
Click to expand...
I never see a stock on an uptrend on a daily chart using the BTD scanner. Every single one of them are in downtrends. In fact, when I look at what BTD shows on a daily/weekly chart for its results, both are in downtrends so I don't know how yours finds stocks in a strong uptrend with minor dips. Mine returns results of stocks in strong downtrends. The indicators says to use the 50/200 SMA as guides. I look at only stocks that are above both of those using the BTD scan. So, again, I don't need a lecture on what an uptrend is. I'm just trying to understand how you get stocks that are in a strong uptrend using the exact same scan and I get stocks in a strong downtrend with it.

Here are the results for BTD just now:
VXX
TLT
SNY
QDEL
BTI
OSUR
RBA
NVS
TMF
VGLT
BDV
TLH
RACE
UBT
ZROZ
TYD

I don't see any one of them in a strong uptrend as you suggest the scanner returns. Each time I've used it I get the same result stocks falling like bricks. It looks more like a shorting indicator than a long indicator from the results I get. It doesn't matter what time of day I run it either, market open, mid day, or near market close.
 
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FreefallJM03 said:
I never see a stock on an uptrend on a daily chart using the BTD scanner. Every single one of them are in downtrends. In fact, when I look at what BTD shows on a daily/weekly chart for its results, both are in downtrends so I don't know how yours finds stocks in a strong uptrend with minor dips. Mine returns results of stocks in strong downtrends. The indicators says to use the 50/200 SMA as guides. I look at only stocks that are above both of those using the BTD scan. So, again, I don't need a lecture on what an uptrend is. I'm just trying to understand how you get stocks that are in a strong uptrend using the exact same scan and I get stocks in a strong downtrend with it.

Here are the results for BTD just now:
VXX
TLT
SNY
QDEL
BTI
OSUR
RBA
NVS
TMF
VGLT
BDV
TLH
RACE
UBT
ZROZ
TYD

I don't see any one of them in a strong uptrend as you suggest the scanner returns. Each time I've used it I get the same result stocks falling like bricks. It looks more like a shorting indicator than a long indicator from the results I get. It doesn't matter what time of day I run it either, market open, mid day, or near market close.
Click to expand...
Spot checked a few and they are below 200MA. Did you add the SMA filters when you are scanning? or are you just scanning only the BTD?
 
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I am tired of looking at all the other indicators, gives me headache. They are slow in providing indications and are not accurate. I have decided to buy your VPI indicators but have questions:

1. Is there a video tutorial provided on how to use the indicators for swing trading and long term trading?
2. Are all these indicators available on watchlist, that way I don't have to keep looking through each symbol?
3. So far, what is the accuracy that you have achieved with these indicators? I understand it is not perfect, I don't think anything can be.
4. How easy it is to upgrade when you have new updates? Is it just downloading and replacing the scripts?
5. Can you provide some guidance on how to have trading setup for swing trading and long term trading?

Once I get the response, I will place my order. Thank you.
 
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barbaros said:
Spot checked a few and they are below 200MA. Did you add the SMA filters when you are scanning? or are you just scanning only the BTD?
Click to expand...
That particular scan I went with just the BTD as is. I have one that filters anything out that is below either 50 or 200 SMA. I've never had a scan from any version of BTD that returns a stock in an uptrend and I took it straight from Ben's link he provided me. So, I don't know why it returns stocks in a downtrend for me and not others since it comes from the same source and I made no changes to the BTD itself. Maybe there is something else that is supposed to be done with it after it is downloaded. I just know that since I started trying it everything is in a strong to moderate downtrend. In the settings for "condition" it says "BuytheDip(). "buythedip below "BuytheDip(). "Zeroline" I don't know what the actual code says. In the edit condition it is set at "crosses below" and the top box on the right says "BuytheDip" in it and the offset is 0. In the inputs for either side it has, "Day" "Simple" and "Close."
 
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